Quote from 2yearNewbie:
Ok , you guys are right. 33% of what is owed to me me nothing. I am not about to tell you how much it is but anything over $15,000 is alot; to me and to alot of people in America. AND dont tell me the old BS line " That A good trader would forget about it and go make the money. That was and is my money !Yeah they returned 66% of the money, after making people sweat it out)
Quote from I Missed Boat:
Actually, he never said anything about traders being given chances to violate rules, but rather that the firm violated rules. How are you supposing Worldco traders broke rules??? Of course, I don't know how zdreg was suggesting that ownership co-mingling funds helped traders, but then zdreg is an idiot.
Quote from nysegi:
I applaud the NASD, although the fines were light.
Quote from zdreg:
nasd release refered to comingling of operations.
result might have been an increase in the capital of worldco thereby allowing prop. traders greater exposure to market.
Quote from zdreg:
you sweat pretty easy.
maybe $15,000 is alot to you . Your words says alot about your ability to move on.
$15,000 = 1/3 of $45,000. very few traders had 45,000 with worldco.
were you leveraged very highly 6 to1 or more on overnite positions so you left it in? greed? possible violation of margin rules? never! did you forget to take it out?
Quote from VitoAndolini:
Their Christmas party at Studio 54 in December 2001 cost that much.Walter and John Miller gave that idiotic speech before the party began about how Worldco was going to get stronger and stronger.
Where was Al Guido in all this?We used to call him the Shakedown Artist.Who was Al going to shakedown for money this week?
Quote from I Missed Boat:
Or maybe he just didn't know to challenge the contract he'd likely signed that required a $50,000 capital account before receiving full pay-out. Or maybe he simply traded a lot of size. What kind of an asshole are you (obviously probably a member or rep of ownership asshole) to talk down $15,000 for someone and to make absurd assumptions on why he might have had $45,000 in his cap account (especially when Worldco pushed contracts requiring more). [/QUOTE
worldco pushed those contracts but no one forced anyone to sign a golden chain contract. worldco had competitors which might have offered a better deal.
Quote from SIZEUP:
What did Worldco do that was illegal? The failure to separate the hedge fund and prop- what does that mean?
Quote from VitoAndolini:
Their Christmas party at Studio 54 in December 2001 cost that much.Walter and John Miller gave that idiotic speech before the party began about how Worldco was going to get stronger and stronger.
Where was Al Guido in all this?We used to call him the Shakedown Artist.Who was Al going to shakedown for money this week?