“It was the generally accepted way for brokerage firms under regulatory heat to stay one step ahead — essentially, closing down and reopening under a different name, thereby starting the process of making money and fighting the regulators all over again. It was like stepping on a cockroach and squashing it, only to find ten new ones scurrying in all directions.”
On cockroaches and Capital Alternatives
On cockroaches and Capital Alternatives
On cockroaches and Capital Alternatives
“It was the generally accepted way for brokerage firms under regulatory heat to stay one step ahead — essentially, closing down and reopening under a different name, thereby starting the process of making money and fighting the regulators all over again. It was like stepping on a cockroach and squashing it, only to find ten new ones scurrying in all directions.”