September 1, 2011
The use of deriviatives has turned Wall Street into a casino. In addition, it seems they are betting the house everytime with the people's assets.
The use of deriviatives should be discontinued. If the common person can't have access to an investment vehicle then surely the large banks should not be allowed either. This concept would apply to naked short selling also, which the SEC allows for the big banks.
The goal of deriviatives it seems is to take money out of the hands of the middle class and put it into the hands of the bankers.
The SEC has been allowing this to happen behind the closed doors of hedge funds. The common person has no idea what is going on.
Please stop the madness. We need a market that is fair for all market participants and the SEC has been complicit in enabling the fruad to perpetuate.
Daniel Belcher