Cuomo To Merrill (MER): Settle Today, Or I’m Suing Your Ass Off.
Cuomo: WELL, I THINK THERE IS A BALANCE, AND I THINK THE REGULATORS ACTUALLY HELP THE MARKETPLACE. I THINK I CAN HELP THE MARKETPLACE. BECAUSE THE MARKETPLACE LEFT UNCHECKED CAN GET OVERAGGRESSIVE AND HYPERACTIVE, AND ONE COMPANY’S DOING THIS, SO YOU START TO DO THIS. THE REGULATORS DRAW THE LINES ON THE FIELD, AND THEY CALL FOULS.
AND I THINK THAT ACTUALLY HELPS THE MARKETPLACE LONG-TERM. I KNOW WHAT HELPS INVESTOR CONFIDENCE. YOU HAVE HUNDREDS OF THOUSANDS OF PEOPLE WHO BOUGHT THESE AUCTION RATE SECURITIES AND ARE NOW LOCKED IN, AND THEY BELIEVE THEY WERE DEFRAUDED, AND THIS IS AN INVESTOR‘S WORST NIGHTMARE. I BUY A SECURITY, I WAS DEFRAUDED.
WHO’S GOING TO HELP ME? AND HAVING THE ATTORNEY GENERAL’S OFFICE, THE OTHER REGULATORS SAY THE SYSTEM WORKS ULTIMATELY, IF YOU WERE DEFRAUDED, WE’LL STEP IN, THAT HELPS INVESTOR CONFIDENCE. INVESTOR CONFIDENCE ULTIMATELY HELPS THE ENTIRE MARKETPLACE.
Originally posted link: click
Tags: helps, investor, marketplace, think

