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Looks like you got a shout out from Zero Hedge. Good luck man, hope it turns out well for you.

No doubt about it. Our entire regulatory system is a farce. None of us should have any illusions about it anymore. We are all on our own now.

And what exactly was "the right amount of work" in this case? Please expound in detail.

And again I ask, exactly what "due diligence" can someone do to know that the CEO of the brokerage has been falsifying bank statements and lying to regulators, and the regulators have been asleep at the switch? How does being a CTA or advisor give someone any greater ability to know that this...

I agree with that. What I don't agree with was your original premise that this was somehow a normal risk of doing business in the U.S. markets, or that somehow he didn't do his own "due diligence". Again, there is no due diligence an individual investor could have done that could have...

Stop being an ignoramus. Far more American investors have gotten hurt in this than foreign ones. Should we Americans stop trading American markets as well? This has nothing to do with "due diligence", this isn't how "the business works". This was FRAUD that the regulatory entities were...

Sorry to hear about your troubles. But I suspect this wasn't about being "dumb" or "lazy". The problem here is the entire financial system is corrupt to the core, and that includes the regulators. Cronyism is rampant, and the foxes are guarding the henhouse. And yes, trust me when I tell...

There is no oversight anymore, at least none that can be trusted. We're now in an era where financial statements, earnings reports and statements of financial condition can be and are falsified and the regulators are either incompetent or in collusion with those they are meant to regulate...

What does having trading experience have to do with analyzing the financial and fiscal data of various business entities? :confused: I'm a very experienced trader, yet I couldn't tell you jack about the inner workings of a given FCM. And it should be pointed out that Atlas had rated...

Zero Hedge has the Atlas ratings of the various FCM's. Check where yours ranks and see how close it is to being the next casualty. http://www.zerohedge.com/news/first-mfglobal-now-pfg-who-next

As a (former) regular Facebook user, I can say that from a "boots on the ground" perspective, I wouldn't touch FB stock on the long side with a 10 foot pole. I just actually deleted my Facebook account, and I know a bunch of other folks who have done the same, because in reality it's just a...

Sorry if this is a silly question, but my head is spinning right now (and my accountant already filed my 2011 taxes without form 8949). If I have trader tax status with the IRS (which I do), was I still required to use form 8949? My accountant told me that since I have trader status it was...

If this isn't the epitome of class warfare and police statism, then I don't know what is. Unbelievable.

Well, so much for innocent until proven guilty. Schumer isn't even fit to be elected dog catcher, much less a senator.

Holy crap. Just when I think politicians can't get any dumber, they manage to lower the bar down into the hot magma core of the earth. So not only does the U.S. remain the only developed nation in the world besides North Korea which taxes its citizens who live abroad, now these two idiots...

Always remember this quote: "It is impossible to defeat an ignorant man in argument." --William J. McAdoo

The principle remains the same regardless. He could have easily been a foreign student at Harvard and met Zuckerberg all the same. The point is, if he wouldn't have owed the U.S. anything further for use of our "system" if he had been a foreign exchange student, then neither does he owe...

BOOM. Another fantastic point. End of story.

Yes, it's usually pretty easy to spot folks who haven't travelled the rest of the world much.

Umm, no. He owes no further debt to any country in particular. He paid taxes like every other citizen while he was a citizen living here. Period. End of story. If I'm drowning and you pull me out of the water, does that make me your indentured servant for the rest of my life? Nope.