"all the rubbish that happens on the asx these days".Hey furn,...

"all the rubbish that happens on the asx these days".

Hey furn, what do we have to worry about eh, the ASX and ASIC reviews were released this week, press conferences and all, which I watched with great interest and amusement, since I wrote some very long and detailed and scientific submissions into these processes.

So ASIC says that all is good on the ASX, no problems with algorithmic trading, it is completely fair and above board, no problems with high frequency trading, in fact they said that all the negative public comments about it were naive and ill-informed, so all is good apparently.

I nearly fell off my chair, and was laughing so hard that the people around me thought I had gone crazy. I laughed so hard I nearly passed a kidney.

Did you see the blank faces and dumb expressions coming from the ASIC public servants who were delivering this drivel? They looked stupid, and they sounded stupid, just Labor public servants who collect a wage and frankly don't care, none of them has ever traded an online share in their lives, they just spewed back what the banks told them too. I think the cumulative IQ of the ASIC and government panel, judging by the frowns, was not much above neanderthal. How do these people get these jobs?

And why would you have a panel of so called experts reporting on this stuff, when it never including even one experienced retail mum and dad investor, or even a representative from the Australian Shareholders Association.

This whole process was a joke. And guess what, when the government changes, and some of these public servants on contracts are looking for new jobs, you know where they get employed, yep, the banks, the finance trading houses etc... It is a pay-off.

This was all just one big con job, a mate's game.

I noticed that all of my submissions were edited. Anything that remotely criticised the government, or the ASX, or ASIC was blacked out.

There is nothing fair about any process in a human society. Everything is corrupt, it is just that some corruption is less-illegal than others. The wealthy will always protect what they have, and the rest will always remain cannon fodder on the front lines.

As an example, we have the 2008 financial meltdown in the USA. So far, not one wealthy wall street banker has been prosecuted or jailed, and they all still managed to take their huge multi-million dollar bonuses. And anyway, the government panels knew that the bankers have most of their personal fortunes in the Caribbean banks so that it can not be touched anyway.

Gw