Why I do what I do
Posted by: Bruce Lefavi in investment on
May 6, 2009
It's time the big brokerage firms did what they were formed to do: reach out and help people, not hurt them. It's the individuals that matter, not these big companies. We need them to change and start serving the people that they've been taking advantage of for years.
I'm Bruce Lefavi, your financial advocate. I'm not soliciting you're business; however, if you want to do business with me, I would be more than happy to have you as a client. There are a lot of good people throughout the industry that have integrity and a conscience, sometimes hard to come across on Wall Street. A little side note: as much as I bad mouth the top management of the big Wall Street firms, there are good people there and I would be proud to know many of them; however, there are also a lot I wouldn't want to know, don't care to know and hope I never have to meet.
The problem is the firms. They've gotten too big and they think they can get away with anything and have gotten away with it so far. We've got to stop them, throw them in jail, throw away the key and take every cent they ever earned or stolen.

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I have written the SEC a couple of times about Naked Shorts. They have always replied that they are against the law and they are investigating. At the same time there are websites that rand the naked shorts per stock updated on a daily basis. Without any laws I feel this is a printing press open to people including enemies. It is tempting. With this I believe that Hedge funds can control the supply and demand(depressing people and triggering people to sell).
Why doesn't the market itself require this to protect its brand? McDonalds does far more to protect its good name that does NASDAQ and New York Stock exchange. Why are these controls so hard to implement? Why are people resisting?
I would love to know your thoughts.
Mark