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Forums > General Investment Discussion > Topic: Worrying statistic, coincidence or just plain troubling? SEC Involvement in SL

Oct 5th 2007, 16:51 Amor Philbin	Worrying statistic, coincidence or just plain troubling? SEC Involvement in SL
	SLFinances.net is generating some decent traffic numbers as we come to the end of our 1st full month of operation. I keep a close eye on a traffic stats, one of the metrics we track are who visits our website. Recently, we've had a huge spike in visits from the US Securities & Exchange Commission (SEC) Here's the traffic report. http://tinyurl.com/3copp8 95 Unique visits from these folk over the last 3 days. Scary? Regards, Amor Philbin. http://slfinances.net
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Oct 5th 2007, 20:28 Andy Sao	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	Scary? I don't think so. With a little bit oversight from the SEC maybe many of the scammer would think twice when they may face stiff fines and or prison sentences in RL. I think SEC involvement is only scary for folks that don't want to follow the rules. I for one would welcome the SEC in SL!
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Oct 6th 2007, 02:51 Silverblade Dagger	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	As much as we direly need protection from fraud, I do not welcome the government into SL in any controlling way. Remember, the government can't track millions of illegal aliens into this country and are sitting down, yet UPS and FedEx can track millions of packages in realtime while they are on the move. The government considers it a success that more people are on welfare, when it should be a success when there are fewer people needing it. The government thinks that taxing people is the way to prosperity, yet no civilization in history has ever taxed itself into such a state. What may appear to be something with the idea of being helpful, in the end can add to, or create a problem of it's own. I apologize for bringing in my own political opinion up on this, but I can't see government involvement being an entirely good thing except for maybe prosecution for fraud. It seems to me that once the lid to this particular pandora's box is opened, many will regret that it isn't as easily closed. Honoris Causa... Silverblade Dagger
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Oct 6th 2007, 09:50 Guardian Market	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	I agree with Silverblade. While government intervention would seem to be good, I think many would regret it afterwards. It will bring HUGE expenses to the market. There's a reason you don't see 5 small exchanges in real life, but only hear of major ones handling millions, if not billions, of dollars per day. SL simply can't support it...yet...
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Oct 6th 2007, 16:50 Stroh Bing	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	There is a possibility that someone from the SEC is also a SecondLifer. Not that anyone here would sneak in from work..
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Oct 6th 2007, 18:02 Rexx4814 Beck	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	It is to be expected. What do you think will happen if this type of fraud and abuse continues? And no I don't think it is a "scary" thing. The same "government" that people like to complain about also has provided a Social Security system that although far from perfect has helped poor older people and those who have become disabled. A food stamp program that helps poor people get food. And yes a welfare system that helps those in difficult situations. It is also the same "government" that formed the FDIC so people could feel and be safe when putting money in a RL bank. I could go on but no matter how many good and decent programs there are to help the poor some will find fault with each because of some who abuse the system. Anyway the SEC will have its detractors but if the powers in SL do nothing to prevent more fraud you might as well roll out the red carpet for them.
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Oct 7th 2007, 21:17 IntLibber Brautigan	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	I'm not surprised either. People can either stand behind the SLEC and make its standards have meaning, or you can sit back and let the SEC come in and screw everything up. Your choice.
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Oct 8th 2007, 02:34 Isegrim Nikolaidis	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	Well how about the fact that we do not seem to be able, or simply not willing to regulate our self. Nobody will volunteer to follow a set of rules that puts them at disadvantage. although I see the nessecity of an institute like SLEC, I fear that it soon will resemble the ancient Roman senate and will consist of those whom have a big finger in the porridge. How does one separate the two duties without them becoming a conflict of interest. Noblesse oblige, Roughly translated it comes down to With great power comes great responsibillity.
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Oct 8th 2007, 04:03 Bogart Beck	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	GREAT Point Isegrim... conflicts of interest and cronyism doesn't really go far toward regulation now does it? Hmm...
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Oct 8th 2007, 05:02 James619 Bagley	Re: Worrying statistic, coincidence or just plain troubling? SEC Involvement in
	Just curious.....I'm new here, and not really sure where linden labs are located, but within theory, if they ever pull the plug on the grid, and shut it down, then could it be possible that it never really existed in the first place? And being a virtual world, doesn't SL exist in all countries which can connect to a internet? And if so, what country has claim of a ruling factor within the virtual one? And by who's laws do they lay rights of passage? And while I'm on a roll, which did come first, the chicken or the egg?
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