SEC Charges Eleven in Stock Manipulation Ring

[gotmilk]

re: "Don't hate the player, hate the game."

Imagine if there was no stock market.

Imagine if banks only collected money for safe keeping, where you pay them a fee for the storage.

If you want to buy a car or a house, you can without having the full cash, all you need do is sign a contract that states that you will pay a certain amount each month for a number of years directly to the person or company that created it. Eventually this will become a full-circle flow of productive work where raw materials are obtained by workers getting a paycheck, workers making a paycheck putting the raw material into a usuable form, workers working in parallel to support these workers, like in food survices.

Everyone needs to produce and create a value that others need for themselves to do the same.

Its a circle where the flow of producing a value is exchanged between everyone.

work - paycheck - buy from a place that pays workers to produce what you buy so the these workers can buy from what that initial worker worked for a paycheck

Companies don't need today's stock market, all they need are investors that invest into a company that will hopefully grow and make a profit and give them back their seed money with a portion of profits added, this with the understanding that they don't get todays shares for the buy/hold/sell cycle, but as a transfer of their cash for a return on the company being successful.

Missing from this model is what everyone on this board does, that being no production of a value, only a transfer of money between investors, as in everyone wants to obtain the money of others. Every time you make a profit, its a lost of another(s). No value is created for society, only a transfer of one person's money to another person.

Question to those saying Matt is a bad person because he "hurts" others.

Do you acknowledge the hurt you caused when you make a profit, taking money from people less able to trade as well as you do.

You say you are a good trader, having an advantage over most others.

Thats not fair.

Forget the laws of the land as moral support since we know the system is corrupted.

Or will you say that your moral stand is o.k. since taking advantage of another is legal by laws made by the system that by all accounts is criminal or simply incorrect.

fung_derf
"... logic that it's alright to rip people off because they should know better is outrageous."

But its o.k. for you to take a profit knowing that person(s) taking the lost to transfer their money to you don't know better. But somehow you don't think you ripped them off since you followed the laws that allowed you to legally remove their money from them in a manner not unfront and truthful.

fung_derf
Few are saying what a "terrible" person Matt is. What they are saying is he should be prosecuted and punished for admitting to a crime. You think he should be rewarded for a clever strategy.

No, he acknowleges that Matt got caught doing something outside the boundaries where by law its o.k. to rip people off these ways, but not those ways.

The Original dpb5!
Matt didn't go to a casino to win his money. Had he done that and won the money, he'd be innocent because his "gambling" didn't affect other people!

o my, o my, o my, so each profit taken doesn't affect the other person that got a lost, o my :)

"The best laid plans of mice men and Matt gang aft agley."

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Doug