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Fair point on the marketplace of marketplaces. Using taxpayer dollars and prisons to enforce a transparent and accountable market still rubs me the wrong way. O
by BeFlatXIII 5y ago
Fair point on the marketplace of marketplaces. Using taxpayer dollars and prisons to enforce a transparent and accountable market still rubs me the wrong way. Outright fraud (eg. a dishonest broker pocketing the $100 instead of purchasing the stock for his client), I have no problems prosecuting with the full force of the government. It’s the rules that provide an illusion of being something other than buyer beware that I chafe at the idea of government intervention.
- wpietri 5y agoFrom the US perspective, the markets run at a healthy profit; they surely generate far more in taxes than they require in regulatory expenditures. And the exchanges themselves do much of the policing of companies, so the actual costs are low. Public markets require the same sort of policing as public streets if they're to remain reasonably safe and effective for the public.