Quote from OldTrader:
I think the posts of Rearden, TraderNik, Reaver, and NYOBScalper should tell us at least a couple of things. First, they tell us the sorry state of affairs that people have reached this degree of cynicism that they can accuse without fact, and two, they tell us something about these guys own morality and ethics that WITHOUT any facts they can state that a firm would in essence steal from their customers, without bothering to wonder what they steal from IB in the process of their non-factual attack.
I'm even being attacked for being a defender of a company against a nonfactual attack. I mean how turned around and twisted can the psychology of some of these young guys be. Maybe you guys should stop watching TV and start doing some reading about philosophy and morality. You might learn something about the doctrine of fairness, and the concept of innocent until proven guilty. And Rearden, back to the Ayn Rand books, you missed all the important lessons.
Wow, this last outburst is so full of inaccuracies that it's beginning to seem like you actually do have some sort of agendum, as opposed to just being someone who, like me, feels compelled to speak up when you feel IB is being unfairly maligned.
It feels a bit strange saying it for the 4th time in this thread, but once again, I have never said that IB would steal anything from their customers. I have said that if you screw up badly enough that IB has the legal right to take control of your accounts, you can expect them to make as much money off you as they legally can.
Your suggestion that cynicism equates to immorality is pretty bizarre. I'll just have to assume it indicates confusion, and leave it alone. If you're cynical it probably means that you're more moral than most people, not less.
The fact that you are just sticking your fingers in your ears and shouting about accusations of theft as opposed to dealing with the facts regarding my statements here (which have been very specific, dealing only with those situations where IB can legally take control of your account) is a bit of a letdown, after your high-on-the-horse pronouncements in this and other threads. Once again, I point out the difference between illegal and unethical. In this case your repeated imputations regarding my comments are clearly unethical, but not illegal.
Lastly, I wasn't going to say this, but it was interesting that one of the most respected ET members chimed in confirming that IB has engaged in sharp business practice in the past. That basically shut the thread down, since most of you guys respect RM enough to keep quiet once he speaks.