Geez guys,

No regulation? This is what you have now. The only people who have enforcements against them are the little, medium players who have never had or lost their "protection"(a la Madoff)! I got my Series 7 in 1984, when Glass/Steagall was in effect, there really was a firewall between banks and brokerage firms, when you could not short on an down tick,(geez what a novel idea, just the "rule" they reinstated for the TBTF banks when they were facing meltdown), when margins and leverage meant something. Now there are no rules, except when they want. How's that working? A few phone calls between insiders and everything gets sold off, run the bids and cover. Five margin increases in SI in 8 days!

Jesse Livermore traded in the day when you took positions and made a bet on something. And sure there were games played by insiders, everybody wants an edge,but this is central planning under the guise of "free markets" What a joke! How about JPM and GS trading for something like 300 consecutive days without a loss? Jesse lost money, he took risks, these a-holes at GS and others have so gamed and bought off the system that they never lose. We have all done as Livermore has here with ECU and have seen time and time again trading houses trade this good company like a ragdoll. Please describe to be what "no regulation" looks like if this isn't it. How would you clear trades? Where would you go for price discovery? To the trading house down by the river? I hate big government as much as the next person, but should we just go out in our cars and drive anywhere, left or right, ignore stop signs. How about airplanes? Should they just take off and fly any altitude and heading to their destination. Do you think no rules are better? I'm sorry, but it's not the rules that are the issue, it's getting the corruption exposed and placing responsible regulators in place to ENFORCE REASONABLE RULES! And yes, that means voting for real people. And here in the US that means getting some rules (yes!) about term limits and campaign finance.

Sorry, but when I hear the talk about no rules my blood boil.

C