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btw, what's the difference between a market maker and prop trading? goldman still has it's billions of dollar market making biz but shed it's "prop". people are rewriting the dictionary.

that's the current politically correct excuse to give. they all say that. "we provide value to the markets".

again, i never said a market maker should be a cashier at mcdonalds. however, stock prices should be based on true supply and demand. not fragmented liquidity across 80 darkpools whenever the MM programs feel like providing liquidity.

centralized auction system was different. and far superior vs. this quasi otc fragmentation imho.

never said MM's should be obliged to be waiters or eat up a collapse. but yes, they will provide liquidity as long as they can make money.

87, 29 is a poor analogy to flash crash. 87 didn't recover all it's losses in 2 days.

yes, but specialists weren't pulling bids and waiting to buy the low of the day. Research how many MM's bot the bottom that day in may for a trade. profit first, liquidity second. and research how many MM's were bidding subpennies above the bid at the low.

LIQUIDITY BUBBLE Large players were leveraging bigger and bigger in ALL market past few years because they believe that their algos will get them out and assume liquidity on the other side. Since the summer, volume is WAYYYY down cos this isn't true.

Currencies, bonds, futures, stocks. ALL THE SAME THING in the master global spreadsheet. This is the flaw of electronic markets where intercorrelations are arbitraged by obscene leverage. When there is systemic risk, currency HFT market makers also turn off. May was make money/don't...

REad above, I added an edit. Flash crashes happen when HFT market makers don't wanna participate, cos their risk management programs tell them to shut off.

Ultimately, regulation is determined to what benefits the average investor and well avg joe can't spend that kind of money to co-locate. When there is no public, there is no real market. It's just sharks and killer whales now. The flash crash had all to do with the fact that these "market...

China has a big advantage over the US since it has a >1 billion working class willing to work for <$1/hour. Problem with the US is the sense of entitlement it's citizens have. Those are symptoms of empire decay. ie Rome.

poignant. Great a daytrader got his word in.

Those who charge usury are in the same position as those controlled by the devil's influence You're all slaves.

when you walk into your interview, start your negotiation at 5000:1 and figure they'll meet you in the middle.

There are 35 million legal citizens with Mexican ancestry in the USA. By 2050, coupled with illegals, they will have the majority rule.

They're just borrowing time to convert all their assets into gold, stein.

Trefoil has a point. illegal mexicans don't pick up welfare. It must be the blacks then.

The problem with America is that there isn't a perceived class system. All poor people think they aren't, and corporate America sells that thinking to them. Used to be if someone of that stature walked into a mercedes dealership, salesmen wouldn't even talk to them. Now it's creative...

the 20's boom period which was the peak of the industrial age was created out of cheap labor much of it illegal, nearly 1 of 4 workers were children, 1/2 were illegal aliens, god knows what kinds of diseased genetics they brought to the states. the master ate, the slave worked.. it all came...