As Canada steps away from a national securities regulator, there’s a constant stream of criticism of America’s SEC. Perhaps there’s an argument for looser regulation?

When investors ignore the little voice that tells them “This is too good to be true,” they may deserve to lose their money, according to Wall Street securities lawyer and Forbes blogger Bill Singer.

He bases his argument on the recurring plague of cold callers pushing an unheard of micro-cap stock as “the next Apple” or as having a patent to cure to all mankind’s woes.