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Re: A deleted message

Wednesday, 01/04/2017 4:11:38 PM

Wednesday, January 04, 2017 4:11:38 PM

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Shub, hard to say if Jay Clayton would help drain the swamp. It's always hard to tell about lawyers because they are trained to fight their client's fight, whether they believe in it or not. I'd rather have a guy, like Clayton, who has already "made his nut" and who clearly knows the terrain of the swamp and where the alligators are as SEC Chairman than someone who can smell gold in them thar hills as a result of the assignment.

Don't get me wrong, Wall Street has a HUGE amount of muscle of all sorts (direct and, more importantly, indirect) that they're willing to use such that truly disrupting their ability to manipulate markets is a Herculean task. Donald himself might be willing to take it on, but the hundreds/ thousands of others who would need to support him 110% (Congressmen, Senators, regulators, States Attorneys, etc.) are difficult to get all pointed in the same direction with the same tenacious aggression needed to succeed.

But, hell, I'd be satisfied with a short sale uptick rule and required transparency on short positions (personally, I think short selling should be outlawed, period... academic studies showing its benefits are not all that persuasive because they don't take into account its shadow costs).
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