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In the case of newsletter writers, it appears to me that the activity being
regulated is publishing, not personal advice, and publishing is cleared
protected by the First Amendment. I would however require registration and
audits for all newsletters, software, etc. which make any trading claims
based on anything other than real-time trades published in a newsletter.
I find it ironic that the government generally seems to place higher
priority on new methods of curtailing liberties than on enforcing the laws
already on the books. The effort expended on such activities seems to be
inversely related to the percentage of bureaucrats which have had to pay
for those liberties with blood, sweat, and tears. When it comes to trading,
imagine if the CFTC made a real effort to see that the trading floors were
brought into the 21st century, that full and complete audit trails existed
every step of the way from customer to floor and back, and that exchange and
broker electronic order systems had the degree of reliability which is taken
for granted in every other major industry. In short, if the CFTC were doing
its job, it wouldn't have time to monitor every individual with an opinion
on the markets.
Earl
----- Original Message -----
From: Roger D. Rines <rdrines@xxxxxxxxxxx>
To: Omega-List@xxxxxxx Com <omega-list@xxxxxxxxxx>; RealTraders Discussion
Group <realtraders@xxxxxxxxxxxxxx>
Sent: Friday, May 07, 1999 6:33 PM
Subject: CFTC Case Update
> The Institute for Justice represented us in this case and they have
> put the case and trial log up on their web site for review. Their
> address is: http://www.ij.org/cftc/
>
> They worked for years on this and they didn't charge us. It is hard
> not to feel good about them. They took ten of us under their wing
> when we were floundering and helped us get the governments attention
> and if we are lucky, will force the CFTC to stop.
>
> I wonder how many people even knew this was going on?
>
> Roger...
> mailto:rdrines@xxxxxxxxxxx
>
>
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