I believe that people should have the right to make mistakes, no matter how stupid. I don't believe any government should interfere with that right, absent fraud. As long as the information is readily available to make informed investment decisions, it's the individual's right to make decisions. People who buy these products are typically more sophisticated than those buying lottery tickets. The Lottery is more heinous than buying complex investment products because it is so regressive and hurts the most vulnerable. In the end, the government should not be paying for people's mistakes, it's the individual's responsibility. I'm all for transparency and reasonable regulation, but I'm not for nanny state intervention with respect to my assets. Your intentions are good. Leave investors alone. It's my money to lose. I made it. Thanks for trying to help.
Mark Fogel Comment On Regulatory Notice 22-08
I believe that people should have the right to make mistakes, no matter how stupid. I don't believe any government should interfere with that right, absent fraud. As long as the information is readily available to make informed investment decisions, it's the individual's right to make decisions. People who buy these products are typically more sophisticated than those buying lottery tickets. The Lottery is more heinous than buying complex investment products because it is so regressive and hurts the most vulnerable. In the end, the government should not be paying for people's mistakes, it's the individual's responsibility. I'm all for transparency and reasonable regulation, but I'm not for nanny state intervention with respect to my assets. Your intentions are good. Leave investors alone. It's my money to lose. I made it. Thanks for trying to help.