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This makes options a failure of governance, but not one that fits the common view that top managers were exploiting investors.
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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.
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.
"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.
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.
Stop Too Big to Fail urges lawmakers to refrain from exploiting everyday investors by dismantling the leveraged and interconnected institutions.
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).
Among them was Rule 34, brought in to prevent investors exploiting football clubs as business opportunities.
The tinkerers and hackers exploring this technology have never been more enthusiastic, yet some of the financiers and investors exploiting the technology for profit are starting to lose interest and enter the valley of despair.
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