Forum Post: Securities Arbitration: Wall Street Not Concerned. Burned Investors Must Take Action. Advocate Sets 500,000 New Case Filings Goal for 2012.
Posted 5 years ago on Feb. 9, 2012, 3:11 p.m. EST by fraudfight
from Santa Monica, CA
This content is user submitted and not an official statement
The numbers bleak: Burned Main Street investors filed under 5,000 new securities arbitration cases in 2011. Millions of investors in America and yet just 5,000 new arbitration cases were filed against Wall Street regulated firms and brokers / other licensees. This pathetic and pitifully low filing count can and must be increased in 2012.
The goal: 500,000 new securities arbitration cases filed in 2012. 500,000 new securities arbitration cases will radically and fundamentally change Wall Street and help Main Streeters with real recovery (bucks) and resolution 2x (money, emotional resolution).
Our view, based on 24 years representing and advocating for burned Main Street investors across America, is that the worldwide friends of the Occupy Wall Street movement can provide much needed help to millions of Main Streeters ripped off by Wall Street over the last 6 years to fight back in real world terms and to win. To help burned Main Streeters recover their lives - it is that important!
All concerned people, using the unprecedented power of the Internet and social media, can reach out and join in the effort to make securities arbitration known as a strong, viable real-world dispute resolution resource for the virtually millions of burned investors to fight back if they have been burned by Wall Street. But Main Streeters cannot fight back if Wall Street is allowed to keep securities arbitration a secret. If people do not know about the rights and opportunities afforded by securities arbitration they simply cannot begin to fight back to recover money lost due to Wall Street misdeeds.
Burned investors will overcome the embarrassment and anger that combine to create inertia if they know that they are not alone and that, in spirit at least, they have the support of millions of other 99% Americans in pursuing valid claims against Wall Street so that those cheated by brokers and firms do not lose twice.
We believe that real Main Street people must overcome inertia. They must fight back against Wall Street. And, for many, historically this means that they have a good chance, even in a David and Goliath-seeming fight in binding arbitration, to win. What a concept! To win! To recover money lost due to Wall Street misdeeds. Not in class action suits or equally appalling government broad negotiation (witness the pathetic mortgage so-called settlement announced Feb. 9th) but in claims: family by family, case by case. And it works.
But securities arbitration cannot work if people do not use it. So, use it. If you or someone you know has been ripped off by Wall Street, fight back! Fight them in the forum where doing so can result in real victory: the conference rooms across the country in which securities arbitration cases are heard. From a back, windowless and hot second tier hotel conference room on the outskirts of Oklahoma City, to the highly comfortable rooms in Beverly Hills, to the FINRA conference rooms at their headquarters in New York - fight back. Strongly, with focus, with an undeterred attitude.
Our goal, my goal must be: To spread the word about the opportunities for burned investors to fight back and win in securities arbitration to kick up the new case filings in 2012 to reach the goal: 500,000 new securities arbitration case filings in 2012. It can be done.
500,000 new case filings in 2012 if people tell others about securities arbitration. Cheated investors. Real people. Real families. Risky investments that blew up that should not have been sold to most investors in the first instance and had they not been sold in the first place would not have harmed Main Street investors in the second place. Family businesses closed due to Wall Street greed. Retirement savings in ruins due to mismanagement and failure of Wall Street to "know the customer" (Sin #1). Young people who cannot go to college because their dad or mom got suckered by a good sales pitch and bad investment advice from a stockbroker who placed commissions before duty.
Being burned by Wall Street isn't new. It extends back many years before the 2008 recession/depression. Americans have been ripped off by Wall Street since the Buttonwood Agreement was signed at 68 Wall Street almost 220 years ago. (Look for more about Securities Arbitration Hotline (1-800-222-4724)(FraudFight@gmail.com) sponsored "Buttonwood Day" in NYC upcoming in this open forum soon).
Here and now, February, 2012, all of us who care about bringing equity and a level playing field for Main Street on Wall Street can resolve to tell everyone we know that if they have been burned by Wall Street that real recourse exists. And victims of Wall Street abuse are everywhere. All across America and abroad, too. From your cousin to your other relatives, from physicians to electrical engineers, from otherwise sophisticated people to the clerk at the pharmacy, from a lady working at a photocopying shop on High Street to her employer. All races, both genders, all income groups, all age groups are impacted when Wall Street loses sight of the responsibilities owed to do their right thing by their customers. Each day, each customer.
And people can be victims of Wall Street seemingly indirect but with direct and measurable results: When Wall Street victimizes union pension funds, small biz retirement accounts, money invested by colleges to fund aid and student tuition grants, local government and government agency accounts - the loss is felt by many in real terms.
It is so important for all Main Streeters, all supporters of OWS, all 99%ers to take this message forward to all corners of America and beyond: People can fight back and they can win if they have been abused by Wall Street. That the securities arbitration recourse isn't easy but it works.
Join us. Raise your voice. Help send Wall Street a message in a real-world, concrete, sustaining way that can mean something: Tell Wall Street that Main Street cannot and will not take it anymore. That we will not allow our friends, relatives, colleagues and our neighbors to continue to be ripped off by Wall Street. That burned investors will step out from the silent safety of victimhood and now will file claims against Wall Street in arbitration. Arbitration is the best-kept secret on Wall Street. It is something they do not advertise. And, from their view, for good reason: Large numbers of ripped off people (and family and biz trusts, retirement plans, etc.) will cost them money. Secondary costs, too. But money foremost.
To supporters of OWS and the 99%: Spread the word loud and long that burned investors on Main Street can fight back against Wall Street and that they can win. That embarrassment and anger at being victimized need not stand in their way and that they can be assured that they are not alone. Use all platforms and opportunities.
So, let's begin. Let people know that they can fight back against Wall Street and that they can win. Let securities arbitration be one avenue of positive change. Let all media in your realm and sphere of influence know about securities arbitration. And that embracing securities arbitration is good for both Main Street and Wall Street. And let's all do all we can to reach the 2012 goal of 500,000 new securities arbitration cases filed through FINRA, NYSE, and others.
500,000 new cases for 2012. The goal. The positive benefits: Incalculable in money and other ways. So let's do it!
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