By Rob Booker - Posted On: Apr 15th 2014
If you are a 24 year old college graduate, and you get hired to work at the National Futures Association as a regulator, here is what you are supposed to do: Look through all the shitty marketing material that brokers and introducing brokers and commodity trading advisors put out, and then you are supposed to delete any phrases that appear to be “promissory in nature.” Your job is to regulate.
So what are you going to do all day long? You are going to get all up into the business of good men and women who work in the financial industry. You are going to inspect their marketing with a pair of rubber gloves, and it’s not going to be pretty. Are you doing this because you were born an asshole? No, you are doing this because it is your job. And you are 24 years old and it’s not like you have the power to change the regulations.
The people who work at the NFA are good, hardworking, honest people – and they want to protect American traders from shady, dirtbag money managers. They want to protect Americans from the guy who promises his church group he can make 4% per month, and all he really knows how to do is lie to his church group, and he ends up losing 27 million dollars that could have gone to buy food for orphans in Haiti. The NFA is worried about that guy. So stop just being generally mad at the NFA.
- Category: Forex
- Published: 15 April 2014
- Written by Editor