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RE: Texas state securities Cease & Desist order against Bitconnect is an effort to limit access to only the Elite
If the Securities act of 1933 was intended to establish laws against misrepresentation and fraudulent activities in the securities market, I wonder how this justifies endless number of government bailouts for financial banking and investment institutions when they royally screw up. The poor lost everything and the financial institutions continue to get money poured in so that they can conduct business as usual. Let’s not forget the CEO’s that receive multi-million dollar golden parachute payouts for making their company go down the drain.
Let's not forget Bernie Madoff. Where was the SEC then? Doesn't seem like the SEC is effective at all at protecting the people. The real goal of the SEC is to protect the financial growth of millionaires. I hope this blog opens everyone's eyes on this reality.
Less than 5% of Madoff’s 50 Billion Ponzi scheme is in the process of being recovered. For those sentenced to jail time after committing financial crimes, they enjoy tennis benefits in the white collar section of jail.