MY FAVORITE
My favorite part of that NSCC rule filing is that they are insulating themselves from liability for WILLFUL MISCONDUCT. LMFAO
Hi, my name is the NSCC and I'm a subsidiary of the DTC. I know that we pretty much coordinate all transactions for the entire financial markets but if we at some point intentionally try to screw everyone in the market, or even select groups of people, and we do it with malice aforethought and greedy, selfish motives that have no care or concern for the financial welfare of others, we get a "Free Get Out of Jail Card". Riiiiiiiiiiiight. Toooooooooo funny.
Are you kidding me? Limiting liability on willful misconduct? And violations of Federal Securities laws? Who's writing this crap? These guys are a MONOPOLY on the financial markets. There are no other players. And they are trying to write themselves out of liability for WILLFUL MISCONDUCT and FEDERAL SECURITIES LAWS????? Negligence and gross negligence imo are at least always debatable (and certainly always ARE debated by plaintiff attorneys) but willful misconduct? And actual violations of Federal Securities laws?
I must be missing something because it looks like the SEC basically sanctioned the DTC to continue screwing as many people as they would like with only limited liability. The DTC is a complete farce and needs to be toppled asap. Fax in your holdings to Frizzell. The police seem to be as crooked or more crooked than the crooks themselves.
Z
As always, these are my personal opinions.
Hopefully nobody in here is investing anything but "fun" money that they can afford to gamble with.
