rules are rules. regulators not applying the rules "because it is the pinks is wrong
No where in the regulations does it say "except the pinks" where rules do not apply and anybody can do anything and we look the other way.
Why do the selectively enforce the rules in the pinks to cause covering to occur when investors have made a mistake and MMs benefit?
Before you criticize a man, walk a mile in his shoes. That way, if he gets angry, he's a mile away and barefoot.