SEC needs to shut down WSB and indict the instigators
- Thread starter longshort
- Start date
I am assuming you are a regulator yourself to make such calls
Tell me how they will get in trouble. By making a tiktok and letting their followers know what is going on in their life and talking about which stocks they like? That isnt a crime
How is reddit getting in trouble? By standing around a water cooler and saying what stocks they are picking and like? That isnt a crime. Especially when everyone and their mother says "this isnt financial advice"
That is nowhere near Belfort. Belfort was using OPM, tiktok and reddit are using their own and if you want to be dumb and jump in too, then that is on you. There needs to be some personal accountability from people. Ignorance of the law doesnt protect you from it, and neither should ignorance of markets and finance punish other people.
Its not what you know, its what you can prove and a good lawyer can spin this like no tomorrow. Belfort was easily provable for lots of reasons. This isnt.
LOL, then why isn’t every Short strategy hedge fund manager in jail right now? By your logic, Bill Ackman should be on trial for March 2020. They’ve been doing this since the early 1980’s.
Bill Ackman appears on CNBC on March 17, 2020 raging about the end of times - and by March 23rd pockets $2.6 Billion on his hype.
Bill Ackman appears on CNBC on March 17, 2020 raging about the end of times - and by March 23rd pockets $2.6 Billion on his hype.
you need to get yourself familiar with SEC regulations, and you will find out that the definition of "investment advice" and "market manipulations" is quite broad, and that "unregistered" investment advisors can be "regular" people "selling" their ideas on a public medium. To make things worse, the lack of disclosure is making them liable to direct interventions by regulators.
You can't simply go online and scream about your stocks and how much money you made. Period. Even if you don't know the law around such behaviors.
You can't simply go online and scream about your stocks and how much money you made. Period. Even if you don't know the law around such behaviors.
yes you can, its called freedom of speech. LMAO, clown.
LOL, try that with the SEC and you will end up in jail. Don't think it was never used before. I actually know someone who used that line in his SEC trial, and he got the "max" penalty
now, who is the clown :lol:
LOL, try that with the SEC and you will end up in jail. Don't think if it was never used before. I actually know someone who used that line in his SEC trial, and he got the "max" penalty
Sure you did. Refer to the @bone post about Ackerman. Until he, or even Cramer for that matter, goes to jail for "getting on TV and talking about their stocks" then miss me with your "knowledge."
