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<p>[QUOTE="fatima, post: 1295088, member: 22143"]It's not a question of the stocks themselves being worthless but the example brought up about MF Global you were referring to proves yet again, that proper regulation of the financial system has completely disappeared and the people running it have put themselves in front of their customers and everyone else. Suppose you had worked for 30 years, had a 401K that was being serviced by this company and that money is now gone and the CEO gets a $12M bonus when he walks away from this mess?</p><p><br /></p><p>This was a 200 year old firm, a primary dealer for the Federal Reserve (only 21 in the entire world) being run by the former governor of NJ. You don't get a better reputation than that, yet here we are. They are bankrupt and customer money is gone. This story keeps getting repeated time after time and these guys seem to have immunity to any prosecution. Where is Eric Holder? Where is the SEC? Where is anyone that is being paid tax money to police the system? So my question, is that given this, why would you turn your money over to these people? If you buy stocks in the USA, it goes through wall street, you have no choice. You have direct corruption such at the situation at MF Global, but you have it too in the way the monetary system has been gamed up for just one purpose and that is to take money from people to keep stocks artificially high.</p><p><br /></p><p>The stock market that I think you are thinking of, doesn't exist now. It's been proven time after time since 2008. Oh and interestingly, in the bankruptcy papers, MF Global was found to owe CNBC close to a million dollars. i.e. They were huge customers of NBC.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1295088, member: 22143"]It's not a question of the stocks themselves being worthless but the example brought up about MF Global you were referring to proves yet again, that proper regulation of the financial system has completely disappeared and the people running it have put themselves in front of their customers and everyone else. Suppose you had worked for 30 years, had a 401K that was being serviced by this company and that money is now gone and the CEO gets a $12M bonus when he walks away from this mess? This was a 200 year old firm, a primary dealer for the Federal Reserve (only 21 in the entire world) being run by the former governor of NJ. You don't get a better reputation than that, yet here we are. They are bankrupt and customer money is gone. This story keeps getting repeated time after time and these guys seem to have immunity to any prosecution. Where is Eric Holder? Where is the SEC? Where is anyone that is being paid tax money to police the system? So my question, is that given this, why would you turn your money over to these people? If you buy stocks in the USA, it goes through wall street, you have no choice. You have direct corruption such at the situation at MF Global, but you have it too in the way the monetary system has been gamed up for just one purpose and that is to take money from people to keep stocks artificially high. The stock market that I think you are thinking of, doesn't exist now. It's been proven time after time since 2008. Oh and interestingly, in the bankruptcy papers, MF Global was found to owe CNBC close to a million dollars. i.e. They were huge customers of NBC.[/QUOTE]
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