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HomeWall Street’s Kangaroo Court Receiving Increased Focus
Posted by Larry Doyle on July 12th, 2013 7:29 AM |
When disputes on Wall Street are adjudicated through a system of arbitration, the stacked deck against which investors — and Wall Street employees as well — are forced to contest can only be properly compared to a kangaroo court.
I am very pleased to see that the kangaroos are receiving a lot more attention lately. Recall that the SEC’s own commissioner Luis Aguilar recently called for an end to mandatory arbitration. In the following 8 minute clip presented by Investment News, we witness a few industry lap dogs repeating the party line as to why arbitration should be maintained. Heath Abshure, the Arkansas securities commissioner and current President of the North American Securities Administrators Association, presents a strong counter argument. (more…)
