Make trading great again.

[Sig]

Sig, are you Barney Frank?

Not by a long shot. In many respects I think he's crazy! But I would like to know instances of anyone actually being harmed by this, as opposed to "my tribe says I have to hate this so I hate it without actually having a clue why".

 

[speedo]

Not by a long shot. In many respects I think he's crazy! But I would like to know instances of anyone actually being harmed by this, as opposed to "my tribe says I have to hate this so I hate it without actually having a clue why".

I don't have a "tribe" but I do have a general distrust of government and will take the liberty of drawing an opinion of the thing on the basis of it's having to incorporate twenty two thousand pages of legalese to define the thing.

 

[Sig]

I don't have a "tribe" but I do have a general distrust of government and will take the liberty of drawing an opinion of the thing on the basis of it's having to incorporate twenty two thousand pages of legalese to define the thing.

If something is complex it must be bad? Again, just looking for a specific impact it's had on someone, not general "I don't like it because its gub'mnt"

 

[sss12]

The thing is, what specific impact has Dodd Frank had on you (not you specifically but anyone here who is sure it's killing us all)? So GS has to hire a couple extra compliance lawyers, cry me a river. The commissions we all pay have steadily gone down, and I pay less for trading now with better execution that in 2008, so none of the supposedly crushing burden of Dodd Frank has been passed down to traders like us. Seems the banks are still uber profitable as well, so obviously not hurting their bottom line. Who is being harmed by Dodd Frank again, and very specifically how?
BTW, I agree that the small financial institutions being subject to big bank rules is bad policy, fine with repealing that. Repealing a requirement that retirement planners act in the best interest of their clients is just absurd though.

@Sig I get your overall theme, but your last line is the forest and trees I mentioned. A very high percentage of retirement accounts are in some type of a managed structure. These accounts already have the advisor as an fiducuriary. It is the smaller accounts that are not, the burden of the regulation is heaped on these accounts. The de facto result will no one for the small investor to talk to right before they sell that basket is stocks, right at the bottom of any given correction.

 

[Sig]

@Sig I get your overall theme, but your last line is the forest and trees I mentioned. A very high percentage of retirement accounts are in some type of a managed structure. These accounts already have the advisor as an fiducuriary. It is the smaller accounts that are not, the burden of the regulation is heaped on these accounts. The de facto result will no one for the small investor to talk to right before they sell that basket is stocks, right at the bottom of any given correction.

What specifically do they have to do that's so burdensome? Is there a form they have to fill out, if so which one? Is there a filing they have to make, if so do you have an example? I think the responses to my query so far are illuminating, a bunch of "this is crushing" generalities but when asked to point out a very specific example of a regular person just trying to make an honest buck being impacted.......it's just a bunch more generalities.

 

[sss12]

What specifically do they have to do that's so burdensome? Is there a form they have to fill out, if so which one? Is there a filing they have to make, if so do you have an example? I think the responses to my query so far are illuminating, a bunch of "this is crushing" generalities but when asked to point out a very specific example of a regular person just trying to make an honest buck being impacted.......it's just a bunch more generalities.

I'm not going to give specifics but , At the branch and regional levels at broker dealers there has been waves of mandatory compliance training and documenting regarding dol.

But, my main pt stands, the small investor is not being helped at the end of the day.

All my comments have been in ref to DOL not DF.

 

[speedo]

You want specifics Sig...here ya go file:///C:/Users/user/Downloads/DODD-FRANK-PANEL.pdf

 

[Sig]

You want specifics Sig...here ya go file:///C:/Users/user/Downloads/DODD-FRANK-PANEL.pdf

Sorry, don't have access to your C drive!

 

[speedo]

Google Ernst Young DF compliance, hopefully that will keep you out of my C drive.

 

[Rationalize]

Last I checked the markets were at all time highs and almost everyone in the financial industry is doing very well. I'd hardly call that "strangulating". There are people who need help, those of us in the financial industry aren't among them.

For sales "trading" I agree, but for actual trading no so much. Currently -smiling and dialing- is compliant. Better to be the phones than the brains - perversely.