I was pulling away from Rufus’ favorite morning mooch spot (Tim’s) when NPR was reporting a story about the SEC suspending trading on 35 companies that had their stock touted in a bunch of spam. That part did not bother me.
What bothered me was the SEC spokesman gets quoted as saying that they are “determining whether any of the buyers had been harmed..” or something like that.
Harmed? Buying stock off a spam-tip? OF COURSE they were harmed. But those wounds were self-inflicted! Buying stock from a spam tip is like driving a bulldozer without training and then blaming the manufacturer for your lack of skill!!
If you buy ANYTHING from a spam tip, be it stock, mortgages, software, enhancement products and you get “harmed” it really is your own damn fault for being such a dumb-ass.
Now, the more I think about this mis-use of my tax dollars protecting the stupid from themselves, the more steamed I get. Embrace Darwin and let the stupid die out and enrich the gene pool for the rest of us. Let’s start calling things what they are and quit protecting people who don’t and can’t learn basic skills before doing something. Perhaps if they get burned too many times, they will pick up a book and learn how to trade before trying to.