DislikedThese regulations are done behind closed doors with No public debate, No publication, No vote, and an even more corrupt process for changing them.
I predict there will be a revolt - Right after its to late!Ignored
No, not closed doors... right out in the open as the CFTC had a comment period in which they received over 9000 comments from the general population, not to mention broker dealers themselves. ( The most recieved comments ever on any rule implementation... comment periods are basically worthless and a waste of tax payer money IMHO after that demonstration.)
Overwhelmingly the comments were OPPOSED to what the CFTC was implementing. But when you take the stance of "Do as I say, not as I do" no one listens, they already are smarter than any of us.
There has been a revolt and it's on-going, but it unwinds temporarily when foreign brokers back down from the threats of the CFTC until a new reputable foreign broker is found to reset the clock.
All we can hope for is that the US Government who is undeniably over-whelmed by a mountain of debt ($14 Tril+) will cut funding to the CFTC to save a few bucks. It takes money to fund them, and if you and I don't make any... they will cease to rake it in. (Vicious cycle LOL)