Jump to content

Ripple Memorandum of Law in Opposition to the SEC Motion to Strike Ripple's Lack of Due Process and Fair Notice Affirmative Defense


Recommended Posts

  • Seoulite changed the title to Ripple Memorandum of Law in Opposition to the SEC Motion to Strike Ripple's Lack of Due Process and Fair Notice Affirmative Defense
Posted (edited)

If the Self Enriching Criminals win, then it will be open season on crypto, with them waving this potential win in front of every new judge and crypto they choose to loot. The SEC caused a 15 BILLION dollar loss to XRP INVESTORS and sent shudders through the crypto industry.

Taken from the SEC's own website:-

The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the public's trust

You know if the SEC was a company, and it caused this many problems for an industry, and it's investors then regulators would have shut it down or fined it massively... this has got to be seen for what it is, a bunch of highwaymen have pulled up to the crypto coach with guns pointing, saying hand it over. Of course this is legalized theft, the SEC are modern day Privateer's IMO.

The SEC's actions scream, we don't care about legalities, we don't care about investors, we don't care about developers and just like privateers of old, they think they have permission to do this from the powers that be. This is why these Self Enriching Criminals will have to be stopped at a higher level, or they will loot and plunder at will, based on nothing more than the whims of some backroom boys at the SEC and their cohorts in government and industry (JC and Henchmen proving my supposition).

John Deaton said it best - bunch this bully in the face.

 

 

 

 

Edited by HAL1000
Link to comment
Share on other sites

2 hours ago, RikkiTikki_is_Back said:

Check-Mate!! The further this goes the more the SEC looks like a gang of Ass Clowns under Clayton.  Gensler has to ask himself does he want to be seen as what Clayton molded him into??

It looks more and more ridiculous for SEC.

Ii is sad to thing all the damage these clowns inflicted on all of us.

Link to comment
Share on other sites

Posted (edited)

The executives who are put at the top of organisations like SEC, and brought this case are now multimillionaires because apparently their services are so sought after that they were worth that much on the open market.  They worked for years preparing this case in lavish offices with highly paid staff under them before it was brought before the courts?  In the end they do not even have the common sense of an everyday person in a menial job.  It illustrates to me that if you pay millions you are unlikely to get competence, you are more likely to get egotistical monkeys and corruption.   Jay Clayton now has another high profile job with high salary.   Are they paying him because they value his competence, or because they want his corruption on their Board of directors?

Gensler is paid a huge salary, but that does not mean he has the skills and common sense to do his job properly.  It will be a matter of luck whether he solves this case sensibly. 

Giving top execs huge salaries, huge numbers of shares, huge numbers of tokens is a bad way to run any business because it attracts the wrong sort of people, and the receivers lose focus on their purpose and develop entitlement  complexes

 

Edited by Julian_Williams
Link to comment
Share on other sites

Posted (edited)
15 hours ago, RikkiTikki_is_Back said:

Check-Mate!! The further this goes the more the SEC looks like a gang of Ass Clowns under Clayton.  Gensler has to ask himself does he want to be seen as what Clayton molded him into??

One of the good things about Gensler is that this is not his first rodeo in government, so he knows that if he keeps digging a hole, a whole lot of past corruption at SEC - prior to his watch - could come out - familiar faces, if a bit weathered and slightly decomposed.

If one sympathizes with him completely - and assumes he is actually the good guy / reformer which we would hope he is - he's still got to know from his time at CFTC that government is sometimes a dirty business and toxic waste may "surface," ergo, he's got to balance allegiance to his own staff (to keep their support) against allegiance to his actual boss, all of us.

I've often wondered whether Clayton dropped this on his last day out as sort of a parting "**** you" / "timebomb" for the new administration to have to defuse.  I'd imagine that some at the SEC, who don't know the pattern/practice of history, within that agency, regarding "how the sausage is made," might actually believe they're out there fighting the good fight - even though they're "just following orders" from a guy who is no longer there anymore and might've had a few million ulterior motives.

It might make GG a few enemies, internally, calling off the dogs and forcing people to actually do their real jobs - but it'd make him a hero with the public that he's supposed to be protecting, the nation he's supposed to be serving, and a new industry - which everybody knows isn't going away, but might go elsewhere - which might just wind up saving the USA, much the way that the internet/tech-boom kicked in at just the right moment to save everyone's bacon, in the late 90's / early 2000's...

Not a bad thing to put on one's resume or poster... the cocktail party invites do tend to arrive for good guys so attired...

But we'll see.

Edited by NightJanitor
Get The Balance Right
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.