Hey, mister the pragmatist, how come you never informed the readers of your (otherwise, very smart) blog that CFTC-regulated HedgeStreet bellied after 3 years, burning in vain $24.9 million?

Wouldn&#8217-t that hard fact (the $24.9 million that disappeared in flames) be worthy of being cited, for the sake of &#8220-pragmatism&#8221-, on a blog written up by a &#8220-pragmatist&#8221-?

So, my good doctor, when is it that you&#8217-re going to tell the truth to your readers?

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UPDATE: See his comment, just below&#8230-

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Ask anybody who suffered the recent bloodletting at HedgeStreet: CFTC regulation can impose crushing burdens. It has nearly driven that innovative business into the ground.
What to think of HedgeStreets comment to the CFTC
In its upcoming proceedings, therefore, the CFTC should exempt prediction markets from regulations that would prevent them from flourishing, like requiring that such shares be traded on designated commodity exchanges.

2 thoughts on “Hey, mister the pragmatist, how come you never informed the readers of your (otherwise, very smart) blog that CFTC-regulated HedgeStreet bellied after 3 years, burning in vain $24.9 million?”

I don’t think the demise of HedgeStreet can be entirely blamed on the CFTC, though I’m sure that played a role. HedgeStreet also suffered from a buggy, cludgy website that was perhaps (pure speculation follows) a reflection of further problems behind the scenes.

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@David Pennock: Yes, HedgeStreet had (has?) the wrong trading model (based on IEM). And their website was redesigned 3 times, to no avail.

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2 thoughts on “Hey, mister the pragmatist, how come you never informed the readers of your (otherwise, very smart) blog that CFTC-regulated HedgeStreet bellied after 3 years, burning in vain $24.9 million?”

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