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I PERSONALLY THINK that there must come a time when a person
must stand on their own 2 feet, and be responsible for THEIR own actions
and stop blaming other people, for their own stupidity,
sorry to hear about your friend
TED
----- Original Message -----
From: comdytrd <comdytrd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: mercredi, 11. août 1999 22:47
Subject: Re: FUT: Demise of Soes Trading Bucket Shops
> SLK for one just pulled the plug on the practice of daytrading firms
> loaning margin call money to traders (they did so by introducing and
setting
> up loan arrangements with investors...know as "guidos" ).
>
> The end of the this arrangement (apparently illegal all along but never
> enforced until the recent publicity) will stop these bucket shops from
> extracting the net worths of undercapitalized "newbies".... Unfortunately
> I've seen dozens of examples. One friend with a net worth of $5000 was
> allowed to trade $500,000 worth of stock, generating massive commissions.
> He is now debit and facing bankruptcy.
>
> Many of you seem to abhor government regulation, but the lack of
enforcement
> of restrictions already on the books led in large part to the abuses we
have
> witness in the SOES/daytrading "industry" in my opinion.
>
> Best,
>
> Michael
>
>
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