Re:Naked shorting: The curious incident of the shares that d...
by arcticbull on Monday February 01, 2021 @12:39PM
(#25990961)
> It's a fraud because they can do it but I can't do it.
That's not what fraud means.
"In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right."
The reason some things are illegal and others aren't is because for the system to function, certain powers and responsibilities are delegated to certain entities. You can't own nuclear warheads, you can't kidnap people, and you can't print money. The act of doing those things isn't illegal. What makes that act illegal is the context. If those who were delegated that power are doing it, it's not crime, it's your responsibility. If you decide to build a reactor in your back yard, that's crime.
Just because someone else can do something you can't doesn't mean it's fraud.
That's not what fraud means.
"In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right."
The reason some things are illegal and others aren't is because for the system to function, certain powers and responsibilities are delegated to certain entities. You can't own nuclear warheads, you can't kidnap people, and you can't print money. The act of doing those things isn't illegal. What makes that act illegal is the context. If those who were delegated that power are doing it, it's not crime, it's your responsibility. If you decide to build a reactor in your back yard, that's crime.
Just because someone else can do something you can't doesn't mean it's fraud.