I, for one, would prefer less government regulation as a general rule. I don't need big brother telling me how and when to spend my money. Uncle Sam simply wants his hands in your pockets when you're making money. I've seen the list of stocks that you won't be able to buy anymore. It's a long list, to be sure. But I've never heard of any of them. They're pathetic shell companies. There will remain a ton of junk out there that won't be affected, and that's fine with me. Heck, if you can make money on a scam, why should the government prevent you from doing so? If you lose money on a scam, that's your problem. Once they start regulating, they don't stop. All the government wants is your money. Don't kid yourself. The SEC isn't doing you any favors. I saw Ritchie Torres (D-NY) on Maxine Waters's Financial Services Committee ask the following question: "Do you know that there are investors out there that have lost over 90% on their investments?" He actually asked the question because he thinks people shouldn't be responsible for their decisions. If the Dems have their way, they will ban retail traders (that's the little guy) from investing in the OTC market. They already want to raise capital gains to 43%. Soon it will be over 50%.
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