FBI to investigate Wall Street's high frequency trading

Everyone knows the markets are rigged, but this is an example of why it's so important to have a federal task force dedicated solely to Wall Street:

http://www.thewire.com/business/201...latest-blemish-high-frequency-trading/359938/

Basically, the wealthiest traders are using super-fast computers to place trades before the majority, effectively driving up the prices for everyone else. This is how the rich get in first when something is 'hot' and get out first when something is dropping.

Anyone who has money in the markets should be furious... I know I am.

They enable thousands of crimes by taking money OUT of the economy that could have otherwise been put into social programs or created jobs or businesses... but instead is sitting in an account in some fucking tax haven somewhere, a status symbol. Or it's being spent on cocaine and hookers. This is a much bigger crime than someone breaking into your house out of desperation.

Either way, I'm hoping this will be the start of something major... if this issue can gain traction in the media, it's an encouraging sign that the government is finally cracking down on these fiends.


PS: I would be so so interested in hearing how libertarians would use the free market to deal with these kinds of issues.

 

Yes, its all over the media. With a new book out on the subject.

My read is that the big capitalists are shaving off margins on other big capitalists on large trades

But joe-sixpac with his Chuck Schwab is unaffected.

I am far more pissed at government malfeasance.

 

"Everyone knows the markets are rigged."


But, very few realize that our beloved Federal Government, is just as rigged, to help those Walstreet Criminals.


I bet the FBI does nothing to deter Walstreet crimes. If anything, they will make it easier for these criminals to go about their business.

You're making the huge mistake of trusting the government to right the wrongs, which they have created.

It wont happen- much like Obama "revamping" the NSA, he's forcing them to take even MORE information on Citizens now. The government wont correct itself. And Washington DC. is all corporate scumbags. The FBI has a lot of corruption imbedded in their ranks.

It is only the perception of checks and balances that Leftist support. In reality, we're only giving them greater amounts of control.

 

You're pulling this out of your ass, as usual.

 

Of course Joe Sixpack is affected... if you use money, you are affected by the markets. Just because you're a minuscule part of it doesn't mean it's not having an effect on you.

And I'm not sure how you're blaming the government for this... or are you just saying generally? Because if you are, please don't. Believe it or not, different issues are being dealt with in different ways.

 

<<I bet the FBI does nothing to deter Walstreet crimes. If anything, they will make it easier for these criminals to go about their business.>>

Oh...seen one of these parades before? Haha I don't know what will come of it, but I do know it's fifty/fifty coming out more or less like you're betting, but we'll see ~

 

I don't know why you people don't just leave the 1% & minions alone. They have a well oiled, well thought out wealth transference machine. Let's give credit where credit is due. Hey---look over there-----------and Buy more. Buy more now.





(Edited for mistake--all is well.)

 

He might have a point this time.

If it is so black and white, why hasn't the SEC put a stop to high-frequency trading?

It's worse than that. The SEC is not only not putting a stop to high-frequency trading, they are allowing it and promoting it. When Brad Katsuyama [one of the main characters in Lewis's book] took all the information he had to the SEC, their response was that the changes Katsuyama was proposing would hurt high-frequency traders. They were most concerned about that. And that's been my experience as well.

http://www.thewire.com/business/201...latest-blemish-high-frequency-trading/359938/

 

Yeah in the words of the gunggan king "dis all bom-bad" - a bunch of people just did or are just about to get real poor. Probably both.

 

How the NSA was truly "revamped" by Obama:
http://rt.com/usa/nsa-overhaul-telecom-metadata-425/

The FBI is known to be corrupt, this is why Libertarians want to get rid of these branches of government, that let their own people commit crimes and act above the law to "catch dangerous people." When really, they are entrapping mentally ill Muslims into saying they're gonna do something, and arresting them for it.

They're not affiliated with Al Qaeda or anything, we are literally creating enemies so we can foil their plots.


Out of 40 attempted "terrorist" attacks: 20 were foiled by civilians, and, the other 20 "foiled" by the government, was radicals that the government itself created.


You always say I look at the world in black-and-white, but, I feel like Democratic-Liberals are taking the government at face value, when it goes far, far deeper than anything the Mainstream Media will come out and tell you.


Liberals beloved Media heads like Bill Maher, work for the elite just as much as Bill O Rielly, or any other Fox Pundent. They control our media, to control our mind, and they control our government, so that any "investigations" or "corrections" such as these, never hurt, and always help the worse of them, while making it harder for small-business competitors to survive.

 

This has absolutely nothing to do with high frequency trading.
Take it to another thread.

 

Says you, I think it has everything to do with it. The FBI and greater Federal Government, is corrupt industry.

Like any other industry, they do things that make them money- the difference is, they can change the laws to do it. IE the drugs laws etc.


this is also like Obama's NSA "overhaul-" another excuse for liberals to forget about something by putting it in governments hands. Until there is a problem with it, and, their solution is always to add more government. It doesn't work that way.

 

You need to know what you're talking about before you can make a point. Stp is just spouting his usual BS... even if he's right, it's probably not because of the reasons he thinks.

They protected them in the past, but this has changed as of 4 days ago... probably because of the book and the fact that the issue has been raised.

I can't say why they 'protected' them exactly-- you can speculate that it's all a conspiracy against the lower/middle class but that doesn't make it so.

Perhaps they thought that eventually the technology will become so widespread that nobody has an advantage, or that it's the way all trades will be made in the future, or maybe they simply wanted the law of the jungle to take over. I'm not saying this is true, just that it's something to consider... especially when it comes to things that only people who really understand the markets know about.

And I wouldn't say that objecting to the publication of a book constitutes 'protecting' high frequency trading... they could have been concerned that the book wasn't being honest, or that like so many others it was sensationalizing an issue in order to sell more copies.

BUT even if the SEC is part of a diabolical conspiracy to widen the gap between the classes, it doesn't negate the fact that the FBI IS paying attention, and that it also serves as one of many examples of why a free unregulated market isn't inherently fair.

I have never argued that the US government hasn't swallowed the same neoliberal Kool-Aid that the libertarians/Republicans/some Democrats have... but I do think that the effort to turn this around is coming from the left while the right is pushing it deeper into insanity.

 

Yeah this is really happening. Hedge funds do it all day. I don't see the big issue with it, its called shorting. Buy low, create a fire storm to make the stock hot, get a bunch of dumb assholes to buy the hell out of it and then drop it all on them. Of course it sucks for the benefactors but this is completely legal.

I actually managed project that brought a T3 to our street, to our building and up to our suite. Then brokered piggy backs with other tenants in our building to lessen the cost because its very expensive. Hehe we did this just to get faster software to trade with.

 

This is not a thread about the NSA. This is not a thread about Obama. This is not a thread about liberals. This is not a thread about drug laws.

Stop writing about these topics on threads that have nothing to do with them.
Everyone on this forum already knows what you think.
The more you write about it, the less anybody cares.

 

^ Fraggle; Just because you're ignorant and closed-minded, doesn't mean everyone else on the forum has to be.


The reason "PEOPLE" (Leftists like you,) don't like me, is because you're too wrapped up in ignorance to look at the truth.


Everything I mentioned has to do with this forum, including Obama, who's a Walstreet puppet, and would NEVER "punish" the rich who funded his campaign.


You Liberals crack me up. In their eyes, Government is the ONLY solution. If you idiots keep supporting these same crooks, you deserve EVERYTHING you have coming.

(btw, since you didn't get banned for personal insults, let's see if the Liberal mods let mine go... I doubt it)


Liberals like you, are hypocrites.You all just assume the government is going to end corruption on their own. Corruption that Governmental powers gave them in the first place.

The reason why Liberalism comes into play, is because sensible people realize it's useless to trust a government as corrupt as ours.

But Liberals ONLY trust government, and not citizens or private organizations, to fix anything. When, the government OBVIOUSLY cares more about money, than it's citizens.

Btw- what will you say when the FBI does nothing? Or makes it worse? You will defend them/ignore it, just like, when I tell you Obama is taking our Rights away. You just want government control; that's all your beliefs, boil out to represent!!!

 

The reason people don't like you, is because you're the internet equivalent of the crazy guy on the bus that loudly involves himself in other people's conversations, and just repeats the same things over and over without actually listening to what anyone else is saying.

 

Both your post and that article dont make any sense.

From the article:

(The FBI are looking) " at brokers who buy and sell orders on behalf of clients, such as mutual funds and pension plans"

So the FBI are looking at brokers that use super dooper fast trading....to strengthen everyone elses pension plan???

1. The FBI is so not the agency to investigate.....well cant even really pin down in the article what precisely they are accusing brokers of

2. How would a super computer on the client end get in orders earlier, you are still limited by the speed of the network, their servers, the lock and queue when the trade is processed by the holding system.

3. There are some many complex derivatives available nowadays all working against each other and on top of the share price its impossible to predict how much a stock will go up, if at all and by how much. This and the explosion of day trading kind of made insider trading knowledge redundant. For what you say to be true, one of those evil minions who bets a whole bunch of money actually buying the shares with no leverage would somehow collude with another evil minion that invests only 10% of the same money, but leveraged at 90% on a bet with call options that the price will go up a certain amount who also colludes with another evil minion who his money on a bunch of put options (that the price would go down) because he thought once the price spiked, everybody would get suss and panic and the price would dive again

4. Lastly and most importantly, if you look into who it is that actually owns most of this shit, Banks and other institutions, other companies, super funds, capital funds etc - a whole lot of evil minions that are really working on your behalf, all with long term strategies, with whole departments of guys with better knowledge, a far bigger advantage that the 1/10 of a second a supercomputer may have over an iphone, but you dont really see them. The odd nutjob that ends up in jail for insider trading whose face you do see on the news, a drop in the ocean compared to whats really going on

 

I wouldn't have to repeat myself, if 1 of you Liberals would respond logically to the many issues and hypocrisies I've brought up. I didn't say "no one" likes me, but it seems like there is an overwhelming Liberal majority here.

And secondly, I'm not "involving myself in other peoples conversations," as far as I'm concerned, this is an open thread. The very same type of open thread Fraggle came unto of mine, and insulted me.

Liberals don't like me, because I'm showing people how imperfect the government really is, and that doesn't fit Obama/Liberals agenda, so they feel the need to shut me up.

I've been threatened banishment for using the word "Liberal," but Fraggle made a really low personal attack, and he wasn't punished at all- Liberal hypocrisy face-to-face!

I'm waiting to be banned for calling him an idiot, but, to me, it's much better than what he said to me, so let's see what Meagain and Balbus do about that. They clearly stated what he said is fine cause I'm "difficult to argue with." I call that biased, because Fraggle is just as difficult to argue with- he calls me a Nazi, Cultist etc. And you ignorant liberals take it as a legitimate argument!


The truth is, Leftist views are Nazism, and I've explained how many times, and you Liberals can't hide from the truth. THAT'S why you Liberals don't like me.

Americans who understand the value of the Constitution, understand me. But idc about you leftists anymore, because ignorant people (like you and fraggle,) are never going to look into the corruption of government, even when you see glimpses of it on the news- you're too captivated by the idea that government force/control is ideal to maintain a "peaceful" society.

Totally ignoring the fact that everytime the government gathers communistic powers, it leads to tyranny by oligarch. It'd only be government that would be rich, and everyone else would end up poor or middle class, and their work ethic would go mostly to government, then, government spends it in our name. It makes much more sense to me, to let people keep 90% of their paychecks, and that would stimulate local economies much better.


I believe Democratic-Liberals, Obama Supporters and, government sympathizers like you and Fraggle, don't want to hear about the truth, you only want the rhetoric that "things are getting better."

Where is the proof?? The government is a monopoly on force, and as long as you rely on them, nothing is going to change for the better.

 

Using the terms 'liberal' and 'leftist' interchangeably is not helping you to come across as intelligent.