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Letters: Wall Street's casinos

May 25, 2012

Re "Facebook IPO flop drawing increased scrutiny," May 23

The best that can be said for the U.S. Securities and Exchange Commission's continuing attack on "insider trading" is that it makes the market safer for the professional gamblers. The worst that can be said is that it deludes a public investor into believing that he or she has a chance to win. In reality, a public stock owner will always be the last to know and can only invest long after all the speculative gains have been taken by the guys who spend all day watching the computer screens and making flash trades.

Gambling is more fun in Las Vegas, and occasionally you get a free drink.

Arthur Armstrong

Manhattan Beach


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