Friday, July 24, 2009

More "Rigging" Of The System By Wall Street?

I believe it's important to continue to highlight the fact that Wall Street does not win in the market place. They do not win based on merit. They impact markets in which they want to play by gaining an informational or legislative advantage. Advantages gained by paying money. They seek to remove transparency and gain an advantage via lobbying or other measures.

Anyone could hire a large group of smart people and rig a market if they can get a monopoly on information or get legislation passed that allows them to execute a strategy of manipulation.

The point is without transparency and a level playing field, all these firms are doing is taking money from society as easily as I could take candy from a baby. Substantial and serious reform must take place. To date, there has been no effort at doing so because Wall Street lobbyist money is more important to our government than are the people of this country. It's just that simple.

So how did Wall Street bounce back so quickly with "trading" profits? Inquiring minds want to know. Apparently, so does the SEC.
posted by TimingLogic at 11:13 AM