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Forum Post: FINRA Stats Stink. Time for Realistic Occupation of FINRA.

Posted 6 years ago on Jan. 3, 2012, 4:43 p.m. EST by fraudfight (2) from Santa Monica, CA
This content is user submitted and not an official statement

In 2009 6,601 securities arbitration cases were filed by aggrieved (burned; ripped off) investors with/through FINRA, the major self-regulatory organization of Wall Street (where most Main Street investor cases are heard). In 2010, just 5,242 cases filed. Wait, it gets worse! Through 11/2011, just 4,359 cases filed. A 17% decline from '10. And this during the year of OWS!? People burned by Wall Street must fight back. And hard. And well. And the number of cases filed in 2012 should rightly hit 400,000 + legit claims filed by/for Main Street burned investors against Wall Street firms. No placards. No lobby or elevator blocking. No hunger strikes. Good TV but how much money do demonstrations put back into the pockets of ripped off Wall Street investors? But new securities arbitration cases can! Lots of legitimate claims for money back lost due to the misdeeds of Wall Street. What else, if not money, does Wall Street understand? Bucks! So why not use the systems in place to help real people recover money via securities arbitration and mediation? Reform Wall Street by helping real people. Can it be done? We want both. To reform Wall Street and to help real 99%ers who've been hurt badly. As a sec arb rep now for 24 years, my view is that whether we can truly reform Wall Street is very much an open question. But it is my firm and unwavering view based on history that through securities arbitration a lot of people can win a lot of money through the system winning lots of cases. If nothing else, a lot of people can be helped through securities arbitration and that would be a great accomplishment. The goal for 2012 is 400,000 new, legitimate, workable cases from the 50 states. Using their system with viable, legit claims may not only help real people (victims) but may just lead the way to Main Street friendly WS reforms. It can be done. Join the challenge.



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[-] 1 points by opensociety4us (914) from Norwalk, CT 6 years ago

very interesting