market manipulation, page-2

Good to hear another well known pundit speaking out about the lack of decent regulation and fairness in our market, especially the increased risks caused by high frequency traders.

"Today our market regulation is in far worse shape than 1960 and 1987 with regulators in the US and Australia allowing large market rigging pipes to be connected to ‘trading floors’, forcing institutions to avoid the rigged stock exchange trading to move into what are called “dark pools” to avoid the rigging.

In Australia we are not as bad as the US but our sleepy regulators still connected the pipes as they did in the US. Dangerous derivatives operate on a scale not dreamed of in 1987.
!!!!!!!!!!!!!!!!!!!!!!!!!
All the ingredients are there for a crash but we will need a trigger."


From an American article further support that the system is crooked,

"And at that Senate Banking Committee hearing on September 20, you know, the one where a former HFT guy named David Lauer came to testify that the game is rigged in “their” favor, and how he was pissed because he didn’t have enough money behind him to buy enough new technology and pay off enough exchanges to get the faster access and cooler algos so he could make the millions he wanted, which is why he got into the business in the first place, yeah, that guy – even he said the game is rigged.

Lauer didn’t say it was illegal. Of course, he wouldn’t incriminate himself. And the Senators, they all nodded that the game did look rigged, but because it wasn’t illegal, they’d have to think about what they heard and see who would now donate what to their campaign finance algorithms."

Seems that they have begun to self destruct. Maybe the whole Ponzi scheme will collapse taking the whole system down. Our politicians will have a hard time trying to explain to the people where their superannuation went.

www.wallstreetinsightsandindictments.com/2012/10/why-high-frequency-trading-is-a-scam/