Hopefully Trump’s nomination for Securities & Exchange Commission chair won’t set us up for another 2007-2008 financial crash in a few years. “Wall Street traders, financiers and the crypto crowd spent the weeks following Election Day dreaming of a friendly Securities and Exchange Commission chair after a particularly fraught four years. Enter Paul Atkins. Wall Street watchdogs are warning that an Atkins-led SEC will stop all pending rulemaking, soften its enforcement approach and adjust its priorities — and not just around crypto. a Wall Street lobbyist whose main contribution during the last financial crisis was to protest fines against the giant corporations that defrauded investors.” https://www.politico.com/news/2024/12/05/trump-sec-paul-atkins-00192791
Market crash waiting to happen Drain the swamp..hardly. more like putting the fox in charge of the hen house
Kakistocracy. But hey, at least my elementary understand of inflation made me protest vote a [redacted] candidate who is happy to reward his billionaire buddies in a definitely not-Putin way.
Personally, I don’t feel that the goevernme t should play any role whatsoever WRT crypto. If people want to trade it, then let them. Just don’t whine whenever things go south.
Yes, it's definitely not the government's job to protect consumers (its citizens.) This includes environmental protection, food and drug quality, military protection, and most importantly....financial protection. None of those things should exist. People should be able to do things like.......run a scam charity that steals the money. Maybe a fake university or a fraudulent business that defrauds its investors. Perhaps it should be ok to advertise political goals, such as building a wall with Mexico.....but just pocketing the money. Trump's glorious America. Designed to help the little man allow criminals and con men to steal.
Nonsense. If you are legalizing theft and fraud, why have laws at all then? Why even have property rights or contracts if it’s nobody’s job to actually enforce what is offered? Ponzi schemes are just straight theft most of the time. The problem with financial institution regulations is sometimes “financial engineering” can obscure the theft and it isn’t always as obvious (Ponzi schemes themselves are sometimes only obvious in retrospect). But I’m quite sure of you held money at a bank or investment firm which absconded with your money, you’d be talking a very different game from “not the governments job” or “govt shouldn’t be in the business of regulating banks”. You’d be hoping for your money back and for people to go to jail. I don’t view crypto as particularly different, at least in terms of firms that actively advertise their services as if they are banks or financial services. The types of regulation should be quite similar. Not sure how the govt can regulate every iterative “coin”, that’s a different (albeit not disconnected) issue from the crypto firms that actively advertise themselves.
Always a good conversation….. Until you show up! Are you really going to equate things that affect all or most of the citizens like environment, defense, and food quality with something that only involves the greedy and the stupid??? Give me a break. I seriously doubt that you played football, or any sport that required skill. But if you did, you must not have worn a helmet.
Who’s legalizing anything? In case I missed something Ponzi schemes and fraud are already crimes. Putting money in the bank to earn interest or to facilitate commerce is not, nor should it be gambling. Crypto is basically gambling and like Rocky Balboa said; You wanna dance, you gotta pay the band. You wanna play, you gotta pay the man. I get that people be stupid. We see it all day, every day. It doesn’t take an intelligent person to know that crypto is a gamble.
You don't think the government has a role in regulating financial markets, and protecting investors? (Particularly from predatory actors who run fraudulent operations like charities, businesses or fund raisers.) I have no idea if you lived near busy streets that required awareness to stay safe, but if you did I bet you were struck by traffic and cognitively incapacitated.
Oh Jo,Jo,Jo. You poor little over emotional, under informed libbie. Crypto is not a financial asset. It has neither real tangible assets nor any government central bank or treasury, and not even a private debt obligation backing it. But feel free to load up if you want.
Oh Aging, Aging, Aging. You angry, angry emotional person whose impotence drives you to insult people on the internet : what are you even talking about? Why are you addressing me? You don't seem able to follow the issue. Spend some more time trying to figure this out, maybe. If you want, I don't care. But stop addressing me, please. KTHXBAI!
Well yeah a pull back is more than over due with the large run up we have seen over the last few years. Doubt it will be a 40% haircut like the dot com bubble however.
