August 31, 2012
I, Jason Slavicek, lost 25% of a protected account at UBS. It was a worker's compensation settlement from employment in Wisconsin and ordered from Wisconsin Worker's Compensation to be in a structured account. I signed paperwork that was explained to me as a conservative protected account that would be paid to me in monthly installments. I believe there was the crash in 2008 that was explained to me as the loss. Wisconsin W.C. was not happy, but the fact is I signed paperwork I obviously did not understand, which allowed wealth to just disappear to who? UBS own portfolio I would imagine.
This is important as to why high-frequency trading is destructive to those that believe money managers have our best interests in mind. Understanding the need of markets, I do not agree computerized or computer controlled trades are a fair way to run a monetary system or a trading market.
Who controls the servers? Who controls the markets trades? If insider trading is illegal, why are governmental workers and system managers allowed to trade on privileged information?
I believe these are important questions to ask. I appreciate the amount of investigation and work the SEC does. Please keep up the good work and stop these criminals from destroying all of our pensions, retirement accounts, and home values and shelter. Please stop the trading of #$@% products sold to the unsuspecting workers and savers. Please remember that is what money managers sold the people as it is recorded in emails at Goldman Sachs. http://www.economist.com/node/16009137 and that the SEC is on to.
Thank you all for your determination to protect all Americans. Sincerely, Jason Slavicek