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They say it would exploit investors and threaten retirement savings.
That was at the apex of the dot-com boom, when money-bleeding start-ups like Webvan and Pets.com sought to exploit investors' insatiable appetite for technology stocks.
"The commission has permitted a recidivist hedge fund manager, well-known for his former company's willingness to evade and ignore federal law, to once again profit from – and potentially exploit – investors," Warren wrote in her letter on Thursday.
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Stock lending and short-selling are symptomatic of a more general malaise where City practitioners exploit investor fear and greed, largely for their own ends.
This makes options a failure of governance, but not one that fits the common view that top managers were exploiting investors.
Mr. Mattera and his associates "exploited investors' desire to get an inside track on a wave of hyped future I.P.O.s," George S. Canellos, the S.E.C.'s New York regional director, said in a statement.
Why should stocks that have been rising keep going up? Surely this is widely avaialble information that will be quicky exploited by investors, if the market is remotely efficient?
They were exploited by investors such as John Henry, best known outside the financial world for owning a baseball team, the Boston Red Sox, and a football club, Liverpool (which is on a downward trend of its own).
Stop Too Big to Fail urges lawmakers to refrain from exploiting everyday investors by dismantling the leveraged and interconnected institutions.
Cheap trading, particularly online, has let investors exploit technical strategies far more easily.
But as businesses race to exploit those benefits, investors and policy makers are finding that pinpointing the potential environmental and health impacts of nanotechnology could take years.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com