CEO Blows Away Congressional Hearing: 'I Was Fined for Hiring Too Many People!' (VIDEO)

FoxNation.com ^ | Sept 20 | Staff

[JesseWatters]

"In my own business, securities regulations have prohibited me from hiring brokers for more than three years. I was even fined fifteen thousand dollar expressly for hiring too many brokers in 2008. In the process I incurred more than $500,000 in legal bills to mitigate a more severe regulatory outcome as a result of hiring too many workers. I have also been prohibited from opening up additional offices. I had a major expansion plan that would have resulted in my creating hundreds of additional jobs. Regulations have forced me to put those jobs on hold. In addition, the added cost of security regulations have forced me to create an offshore brokerage firm to handle foreign accounts that are now too expensive to handle from the United States. Revenue and jobs that would have been created in the U.S. are now being created abroad instead. In addition, I am moving several asset management jobs from Newport Beach, California to Singapore."

[freedumb2003]

>> Stock brokers are who I was impuning.

A worker is anyone who provides something of value. So, that includes the service economy.<<

I went back and reread and now see your post. But if Stock Brokers don’t add value why are they paid? They must be providing a service that demands a price, else they would not exist.

They do the same thing as Finance Brokers — putting together a seller and a buyer of a product or commodity (in this case, stocks and the like).

Knickers never even came close to “guy’s-old-favorite-underwear-that-still-has-one-string-of-elastic-so-you-better-NOT-throw-them-away-dangit!” level, much less twisted... :)

[Vince Ferrer]

Art imitates life. Or in this case life imitates art. Here is the hip hop version of the hearings:

Fight of the century