No Country For Old Men

[dandxg]

No I really want some golden slacks. I realized as much as those guys piss me off because they have every unfair advantage in the book I am jealous. And yes No Country for Old Men was good. Zero hedge is a great site too.

 

[number22]

Quote from nitro:

The reference to "No Country For Old Men" comes from just this one line.

The criminals have become so daring in this industry that I think nothing can stop the deterioration of the US Financial system. The law does nothing about it. How can one not feel overmatched by the audacity of these people to do as they please?

The core problem is the enforcement of existing laws.

 

[Bob111]

here is some food for SEC-

 

[stock777]

You Lie!

None of this alleged criminality is going on.

It's just a plot by the LEFT against decent Americans.

Traitors will not be tolerated.

 

[new$]

Quote from nitro:

The reference to "No Country For Old Men" comes from just this one line.

The criminals have become so daring in this industry that I think nothing can stop the deterioration of the US Financial system. The law does nothing about it. How can one not feel overmatched by the audacity of these people to do as they please?

------------------
+1 :eek:

 

[dcraig]

Quote from nitro:

"Study Confirms Bank Prop Desks Sell Ahead Of Own Research Analyst Downgrades, Finds Recurring Rule 2110-4 Violations"

http://www.zerohedge.com/article/st...esearch-analyst-downgrades-finds-recurring-ru

The thing that should really raise eye brows is that it should be perfectly possible to develop semi-automated systems to monitor this sort of behavior.

All this is hardly new.

Why then, is such monitoring not done on a routine basis?

 

[Mvic]

Mark these words well.

As soon as the playing field is leveled it will soon thereafter be shut to all but the biggest players (multi billion $ players).

 

[nitro]

Quote from dcraig:

The thing that should really raise eye brows is that it should be perfectly possible to develop semi-automated systems to monitor this sort of behavior.

All this is hardly new.

Why then, is such monitoring not done on a routine basis?

It's worse than you may know. Options volume and particular strategy traded often tip inside information. It is trivial to write scanners that flag these sorts of trades for later investigation by any governing body that cares.

How many arrests are made from this? I think that Galleon is the first one I have seen in what feels like decades, back to Ivan Boesky before there was even electronic survailance with the sophistication of current off-the-shelf data mining technology. For example, as soon as a takeover is announced, these engines should go to work and look at every single trade for two months in the given equity and option chains. Trivial on a modern based GPU scanning terabytes of data.

The data stored by the NYSE and NASDAQ and other exchanges I believe are stamped so that governing bodies can look at the trades postmortem and can be backtracked to the entities involved.

All you need is a few hires by the SEC.

Shameful.

 

[athlonmank8]

The SEC doesn't have enough brains in their cubicles to do this. Anyone smart enough to catch it, won't be working for the SEC or FINRA.

It all comes down to money. Who the hell wants a 5 figure income from the SEC.


Is anyone else worried about the end of the options market due to this garbage? I mean this is a serious issue.

 

[11Blade]

Quote from nitro:


The data stored by the NYSE and NASDAQ and other exchanges I believe are stamped so that governing bodies can look at the trades postmortem and can be backtracked to the entities involved.

All you need is a few hires by the SEC.

Shameful.

I bet you can hire some very smart MIT/Carnegie Mellon idealist youngsters to do some forensic analysis and give them a cut of the penalties. Make them the bounty hunters!

turn a boring 5 figure income desk-tool into a gun-toting vigilante bounty-hunter!