One way to fool the buyer is by price manipulation. A speculator arranges for some shares of a stock to be bought for him, paying prices higher than necessary. Each new stock fraud brings new demands that the buyer be given more protection. Why isn’t it possible, the public wants to know, to wipe out stock frauds entirely?
One easy method would be to abolish all stocks. A third, tinder which complete effectiveness could not be guaranteed, would be to have every stock sale supervised by a government official.
No member of the public has lost money through the insolvency of a member of the New York Stock Exchange since 1934. Other exchanges boast similar records.
The National Association of Securities Dealers also mediates between the members and the buyer. If you are looking for a guaranteed return on your investment, the stock market might not be for you.
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