Yes, but has Wall Street worked right? Isn’t there something in the air that we all feel, like things are getting out of control?
Maybe the problem is partially structural. Wasn’t it 1907 when states passed a lot of the “bucket shop” laws? I submit there is a difference between investing and gambling.
Suppose you hire Bob as your investment guy. You put money into his account. He heads to Las Vegas and puts it all on “red”.
He wins, are you happy? Will you send him back to Vegas with more money? Maybe with your 401K? Do you think what he did should be legal?
parsy, who can’t answer this for anyone else
Okay, when Bob head to Vegas and gamble my money without my consent he has committed fraud. I don’t remember much about bucket shops but I believe there was fraud involved there as well. That is different then speculation.
Suppose I hire Bob to speculate with my money and he buys and sells stocks every hour then I believe what he is doing is legal.