[quote=Roger Thornhill]

[quote=Put Trader] I have said that
The Securities Act of 1933 did not have a theory, that instead it had
objectives and purposes.[/quote]

So you're admitting that you do not know the answer.

[quote=Put Trader]Nah, the answer is that the Securities Act of 1933 had objectives and a purpose but no theory.  It is your ignorance of the language that makes you not understand my response.

If you disagree it is incumbant on you to justify your disagreement.
[/quote]

Let me REPEAT: So you're admitting that you do not know the answer.

Everyone on here knew that you didn't, which is why you waffled and attempted to construct a straw man, and lobbed a red herring or two (all batted away, without any effort).

Here's the answer:

The theory behind the '33 Act is known as "the sunlight theory of regulation."

This theory and the material that supports it is in any law course that covers securities regulation. *cough, cough* Hint, hint.

The '33 Act provides for full disclosure of all material facts. "The sunlight theory of regulation" is based on the presumption that if investors are given all of the necessary facts they will make wise investment decisions, or at least better ones that they would, absent all material facts. Lawyers and insiders that comment on such issues have characterized the '33 Act as follows:

"Congress did not take away from the investor his inalienable right to make a fool of himself. It simply attempted to prevent others from making a fool of him."

***What this means to you is that this law is to keep people like puttyndacrack from stealing from you, or your grandmother***

Has this theory proved effective? Most argue it has, because: Those who are forced to undress in public will presumably pay some attention to their figures, both literally and figuratively, no pun intended.

Game, set, match!

Now puttyndacrack can slither back into the hole from whence he came, knowing he's had his arse handed to him (do snakes have an arse? I guess not, so I'm writing figuratively).

[quote=Roger Thornhill]

The theory behind the '33 Act is known as “the sunlight theory of regulation.”

[quote=Put Trader] 



Find the textbook.



I have encylopedic knowlege of Wall Street, I write questions for the
tests, I lecture to rookies, I have written training manuals.  I
tend to structure things in a very orderly fashion–taking the reader
from point a to point b.



I am also older than you.  You are too stupid to string together
your thoughts–it’s not your fault, society wanted you to be dumb so
that you were not so much smarter than some of your fellow travellers.



I am wasting nobody’s time but my own.  My work load does not
suffer because I spend an hour or so a day playing around with the
Internet–so don’t worry.

[/quote]



Oh boy, oh boy, ol’ Put my boy…I wish I would of read this disclaimer
before I blew my horn and stomped my hoof at such a bear-like man.

[quote=Put Trader]

I believe that if you go back to my original discussion of the Act of 1933 you will find that I used the wording "The Act of Full Disclosure."

That you choose to express that as "the sunlight theory" is fine.

***Snipped Irrelevant Drivel***[/quote]

Points of note:

1. puttyndacrack said there's no theory behind the law.

2. I posted said theory, paraphrasing a text from a law class, proving puttyndacrack that he's completely and utterly wrong.

3. puttyndacrack tries to backpeddle, but we all know he's already drowning in the shallow end of the gene pool.

I've kicked your ass, puttyndacrack. Right now, you're flat on your back, covered in your own blood mixed with dirt from repeatedly being beat down to the ground, with my size 11 boot on your larynx, and you're sucking for air like the dying snake you are.

Do you want me to let you up so I can knock you down again?

[quote=Put Trader]

Now comes Visigoth claiming that he is a law school graduate–here in

cyberspace we can be anything we want to be.

[/quote]





Precisely the point about you, projecting your own situation…eh, genius.



[quote=Put Trader]



In any case, if he is a law school graduate he is too dumb to pass the bar

or he’d be practicing law–right?



[/quote]



Why?, I make more money than all but one of my law school classmates

And, unlike you, I freely admit money is one of my big motivators.

[quote=Visigoth]Precisely the point about you, projecting your own situation...eh, genius. [/quote]

I doubt he gets the irony. It's over his head. Like most things.

[quote=Visigoth]And, unlike you, I freely admit money is one of my big motivators.  [/quote]

Widdle ol' puttyndacrack won't admit that he's money motivated because he's never made any. That's a symptom of a failed planner. When they don't, ahem, measure up, using the common yardsticks like money and production, they invent their own.

[quote=Visigoth]


[quote=Put Trader]



In any case, if he is a law school graduate he is too dumb to pass the bar

or he’d be practicing law–right?



[/quote]



Why?, I make more money than all but one of my law school classmates

And, unlike you, I freely admit money is one of my big motivators.

[/quote]



Right, everybody goes through the law school process, moot court,
reading and writing till the wee hours as a way of becoming an
insurance salesman.



Do these fools think that the rest of us live in a vacuum of personal experience?

 [quote=Visigoth]




Why?, I make more money than all but one of my law school classmates

And, unlike you, I freely admit money is one of my big motivators.

[/quote]



The boys and girls are asked to consider this.  Does it sound
credible that an insurance salesman who claims to be a lawyer too would
know how much his law school classmates are pulling down?



I was unaware that our income is part of the public record.



But it sure sounds official–or is it officious–to say, "I make more money than all of my classmates except one."



Which is why we all know that parents are so embarassed when they have
to say, “My son is a lawyer…I certainly wish he was an
insurance salesman.”

[quote=Put Trader] Do these fools think that the rest of us live in a vacuum of personal experience? [/quote]

No, we just think that about you.

[quote=Put Trader] [quote=Visigoth]



Why?, I make more money than all but one of my law school classmates

And, unlike you, I freely admit money is one of my big motivators.

[/quote]



The boys and girls are asked to consider this. Does it sound

credible that an insurance salesman who claims to be a lawyer too would

know how much his law school classmates are pulling down?



I was unaware that our income is part of the public record.



But it sure sounds official–or is it officious–to say, "I make more money

than all of my classmates except one."



Which is why we all know that parents are so embarassed when they have

to say, “My son is a lawyer…I certainly wish he was an

insurance salesman.”

[/quote]





Hey, genius, my father IS an insurance salesman. MDRT, and over 40

years in the BIZ, he managed to make an above average living while

putting three daughters and a son through college and grad school. I

happen to be very proud and thankfull for all his work and support.



Also, I’m not an insurance salesman (though I do hold the license and sell

life insurance in some estate planning cases), I’m not even going to

bother explaining my life or career to you as it truly is none of your

business.



Now, my financial and professional status have, at least, as much

credibility as your claims of genius, experience, and professional

standing.



Finally, your statement:



[quote=Put Trader]



I was ignoring the question because laws don’t have theories, they have

objectives and purposes.



[/quote]



Is pure B.S., keep on talking investments, you seem to have some

knowledge of the field, leave the law (and insurance talk, while I’m at it)

to professionals.



P.S. Unlike others in the forum, I do enjoy your rants, ocassionally you

have made some good points, however your unchecked ego has robbed

you of quite a bit of credibility.

"I do enjoy your rant, ocasionally you have made some good points,
however your unchecked ego has robbed you of quite a bit of
credibility."



Actually I agree with you.  But add to that also that I find his bigotry and sexism to be mighty offensive sometimes too.

Could the 1933 reg be viewed in multiple ways? I mean when two guys talk to the same girl for 30 minutes it is possible they would view her differently.

I think everything the government ever did was based on the objective statement. I know the Air Force has used that since 1950 and suspect everything else established by the governement utilizes this theory. :) Or something like that.

I think during these posts some people dont spend much time writing or reviewing what they write. I am one of those people so often one could view my posts as in depth or just a quick bs statement.

It is late and I hope some of this makes sense?

[quote=joedabrkr]"I do enjoy your rant, ocasionally you have made some good points,
however your unchecked ego has robbed you of quite a bit of
credibility."



Actually I agree with you.  But add to that also that I find his bigotry and sexism to be mighty offensive sometimes too.

[/quote]



Bigotry?  I readily agree that I am biggoted, so are you and every other man and woman you will see on a city street.



The difference is I am not all gobbled up with sensitivity.  As
Limbaugh is fond of saying, "I say what you are too timid to say
yourself."



Only a moron would not wonder if there might not be nothing more, or
less, than genetic differences to explain why Negroes score lower on
any measure of intellect REGARDLESS of where such measures are taken.



I know, I know–they’re not Negroes, they’re African Americans. That,
of course, is nonsense.  A Negro in Germany is not an African
German, or an African American German–he’s a Negro.  I’m a
Caucasian, and the woman four doors down the hall from me is an Asian.



These are perfectly acceptable terms, known as the world’s races.



In this country inner city Negroes score lower on IQ tests than any of
the other inner city races, suburban Negroes score lower than any of
the other suburban race, Negro students at colleges and universties
score lower than students of any other race at those same colleges and
universities…the list is endless.



Why do you suppose that is Joe?  It cannot be environmental 
because the tests are run among people who are from the same
environment.  Diet is the same, homes are the same, parents are
married, parents are educated, parents work at the same
factories–those running the tests go out of their way to standardize
the standardized tests.



It’s also not just in the USA, it’s universal–across the world.  German Caucasians score higher than German Negroes.



I know, I know–the differences are small.  When put on a Bell
Curve all races fall within a range that is not that far apart. 
The problem is that under the bell curve the high range of the Negro
scores is in the same area with the low range of the Asian scores and
the below average range of the Caucasian scores.



Year after year, study after study, in country after country.



Only a fool would not conclude that it’s genetic.  It is possible
to “fix” it with genetic science but in order to embark on the studies
to determine how to go about fixing it one has to come to grips with
the reality that the “cure” is found in the DNA helix.



Science was moving that way in the 1930s, then the world went to war
and there was the discovery of the hideous experiments in the Nazi
camps and the world made a collective agreement to stop any research
that used humans as subjects.



There are some, even to this day.  Things like “Twins raised
apart” studies use humans–but the scientists are not Nazis and the
environment is not a prison camp so it’s acceptable.



Ever looked into the results of Negro twins raised apart?  Yep, as
you would expect the one raised in the inner city was bright as a
stone…and so was their sibling raised in the suburbs.



There is nothing wrong with acknowledging awareness of things around
you.  In fact failure to do so would have to be the sign of a
moron.

[quote=Visigoth]



P.S. Unlike others in the forum, I do enjoy your rants, ocassionally you

have made some good points, however your unchecked ego has robbed

you of quite a bit of credibility.



[/quote]



When somebody has succeeded at everything they ever did–all the way
back to grade school–just telling regular stories comes across as
bragging to those of you who are unaccustomed to success.



When I went to grade school (1-6) it was a big deal to be on the school
patrol.  School patrol boys and girls got to wear a white belt
thing over one shoulder and around the waist-it had a badge and when
the duties were over the belt was rolled up in a special way that was a
secret to the other kids.



It was an honor that was bestowed on fifth and sixth graders based on
your grades and that nebulous thing known as "leadership ability."



Am I ego driven because I tell people that I was chosen as one of the
very few fifth graders?  How about if I layer on that I was the
Captain as a sixth grader?



National Honor Socity?  All district football and baseball? 
President of my fraternity?  Graduated from College?  Top 25%
at OCS?  Made it home alive and in once piece?  Woo’d and wed
a debutant?  Got a Masters?  Both sons have college
degrees?  Chosen to develop regional marketing effort for options
at age 33?  Exceptionally well travelled?  Lucky enough to be
able to afford a great lifestyle in a world class city?  Lower
upper level management with a premier Wall Street firm–hobbled by a
lack of pedigree and degrees from the "right schools."



If somebody has done something, accomplished something, been somewhere
is it wrong to mention that experience out of respect to the listener
who has very little experience?



If somebody says, “I sure wish I could see Red Square” I will respond
"I’ve seen it is–twice in fact, before and after the fall of
Communisim.  I think that the before experience was better–it
might be because the whole place had a spooky image…"



I guess if I were more sensitive I’d simply say, “Me too.”   No doubt that is what a sensitive type like you would do.



As Babe Ruth said, “It ain’t bragging if you do it.”

puttyndacrack is high on crack today.

Anything you say is not true, not credible, according to puttyndacrack, but what he says is true and credible -- as long as you're on crack.

Remember that theory that you didn't know, puttyndacrack? Mr. I_Know_Everything_About_Securities?     

[quote=Put Trader]Lower
upper level management with a premier Wall Street firm–hobbled by a
lack of pedigree and degrees from the “right schools.”[/quote]



Here’s a quick lesson in sales:



Every decision this client makes in his lifetime will be weighted by this short-term sentiment when measuring true motivations.



 This client desires products and services outside his reach- the
brand sensitive nature of this person is most effected by upfront costs
and in retrospect may be haunted by analysis of Life Cycle Costs.
Postioning solutions for this client would demand illustrations that
include calculating the costs associated with cost nodes and the Cost
Breakdown Structure at each time point in a time sequence.



I would lace the geek numbers with a healthy dosing of “his english”,
by wording a peer example of what most like-persons do (don’t kid
yourself…I’d position him in Paul Getty’s shoes) -and why his gene
pool provides enough degrees of seperation to make the best selection.
He would, of course, want the name recognition of the  “Burberry
overcoat” off the rack, the “upfront” economies of scale, but would
quietly scoff at paying a premium for chosing select fabrics and the
premium cost of tailoring associated with handmade garments. Now what
can be certainly proven to the wise investor of overcoats is this --any
Brooks or Burberry factory made garment will yield lower upfront costs
and less transparency then the itemized costs of a premier fitted
product. The large bandwidth of semi-affluent clients drives this “off
the rack” segment of the garment market. The perception of hand
designed runway ready to wear knockoffs keep the retail registers
ringing (187 stores?). There’s the hard to ignore fact that there are
more Puts’ then there are Rockerfeller’s. The Puts’ simply want a chalk
line here and a chalk line there to receive the instant gratification
of a tailored fit. The handmade garment allows for many more
Thanksgiving and Christmas growth adjustments, consequently a lower
lifetime cost or return on investment.



The retail product fails to perform during the future fittings, not
because it lacked the right fabric (pedigree) – it fails because it
lacks sufficient excess fabric. Cost efficiencies wouldn’t allow it in
the retailers paradigm.

[quote=Put Trader]

[quote=Visigoth]



P.S. Unlike others in the forum, I do enjoy your rants, ocassionally you

have made some good points, however your unchecked ego has robbed

you of quite a bit of credibility.



[/quote]



When somebody has succeeded at everything they ever did–all the way
back to grade school–just telling regular stories comes across as
bragging to those of you who are unaccustomed to success.



When I went to grade school (1-6) it was a big deal to be on the school
patrol.  School patrol boys and girls got to wear a white belt
thing over one shoulder and around the waist-it had a badge and when

the duties were over the belt was rolled up in a special way that was a
secret to the other kids.



It was an honor that was bestowed on fifth and sixth graders based on
your grades and that nebulous thing known as "leadership ability."



Am I ego driven because I tell people that I was chosen as one of the
very few fifth graders?  How about if I layer on that I was the
Captain as a sixth grader?



National Honor Socity?  All district football and baseball? 
President of my fraternity?  Graduated from College?  Top 25%
at OCS?  Made it home alive and in once piece?  Woo’d and wed
a debutant?  Got a Masters?  Both sons have college
degrees?  Chosen to develop regional marketing effort for options
at age 33?  Exceptionally well travelled?  Lucky enough to be
able to afford a great lifestyle in a world class city?  Lower
upper level management with a premier Wall Street firm–hobbled by a
lack of pedigree and degrees from the "right schools."



If somebody has done something, accomplished something, been somewhere
is it wrong to mention that experience out of respect to the listener
who has very little experience?



If somebody says, “I sure wish I could see Red Square” I will respond
"I’ve seen it is–twice in fact, before and after the fall of
Communisim.  I think that the before experience was better–it
might be because the whole place had a spooky image…"



I guess if I were more sensitive I’d simply say, “Me too.”   No doubt that is what a sensitive type like you would do.



As Babe Ruth said, “It ain’t bragging if you do it.”

[/quote]



::yawn::

[quote=joedabrkr] ::yawn:: [/quote]

Want some caf to wake you up? Annuity Guy already owes me a Coke.

Put wrote: "Lower upper level management with a premier Wall Street firm--hobbled by a lack of pedigree and degrees from the "right schools.""

This is very telling info on why Put is always calling names, brags ad nauseum, is a bigot, etc.  He's apparently one of those insecure people who blames his personal failures on other than himself.  Poor Put blames his lack of bloodline or right school for hindering his ability to rise higher.  (He even tried to artifically overcome this by marrying a debutant!) He just can't stomach it that maybe his limitations of ability and performance didn't stack up with the many who passed him by, or attained what he did more easily. 

Here's a guy who says he scores so high on his tests, is a Mensa dude, etc., and he just can't "get it" that that doesn't necessarily translate into success.  He hates it that many on these boards are very successful as reps, but were happy to only score in the low 70's on the 7. 

Thanks for sharing, Put.  Very enlightening.  Many others have already commented on your insecurities, but now we have a better idea about how deep they are.