His RBI badge was a reference to his love of baseball as a college player who did very well,
Rick Santelli on Rush Limbaugh's Show
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His RBI badge was a reference to his love of baseball as a college player who did very well,
Quote from Angrycat:
Yep, I have. Den of thieves. Never been in the S&P pit as I've always been in New York, but my very best guess is that's also a den of thieves - particularly the years you mention.
Let's face it, most floor trading is all about ripping off customers either by getting regulators to encode economic rents for the people on the floor or by limiting competition either through regulatory restrictions or fighting electronic trading (eh, same thing, right?). The NYMEX oil pit just happened to be really good at all those things and when a trade came to the floor, getting a piece of it was impossible for anyone new. While all pits collude to some extent, the oil futures pit mastered it better than most.
One example: the old timers like Bollinger know all the brokers and trained them to come to them with orders. So, instead of a broker bringing an order to the pit and announcing it so that traders can compete for the order, the broker whispers it into Bollinger's ear and Bollinger does as much of the order at a price he wants and only then does the remaining order (if any) gets thrown out to the rest of the pit. Yes, it's illegal and it happens all the time - particularly at the NYMEX. The fact that they put on a spread doesn't change the fact they are thieves. Did you actually try to trade oil futures or were you just visiting the NYMEX floor?
I have no special information that Bollinger is any more guilty of participating than anyone else in that pit. I'm not singling him out, but he doesn't strike me as particularly bright (although, he's a genius compared to most of the commenters on TV).
BTW....I'm not a dude
Wow.
So Bolling and the other veteran traders at the NYMEX have all of the brokers trained to come to them?
That's FUNNY.
Meanwhile, you say that you aren't singling out Eric Bolling, but then you go right ahead and make him your "Exhibit A" example. How convenient. And how convenient that you misspell Bolling's name as you libel and slander the guy. Amazing. Simply amazing.
(Must be easy to hide behind an anonymous screen name on a message board on the Internet and make such claims).
And no, I never "visited" the NYMEX.
I was the COMEX broker for Paul Tudor Jones at Tudor Investment Corp. in 1986; and from 1987 on I traded as a local for the next 7 years on the NYBOT.
I think that I have a pretty good understanding of how the NYMEX works, and who Eric Bolling is. You are so far off base, it isn't even worth me continuing to respond to your ridiculous claims.
Good Day.
Awe, now don't get all upset, Landis. I didn't mean it as a personal insult to you or anything. Sorry...."Bollinger" is an inside joke I won't bore you explaining. That was a slip. I'm sorry if our opinion of Bolling differs. That's just going to happen sometimes. You shouldn't take everything so seriously. It's a message board, after all. I'm sure the guys in the S&P pit take issue with what you said about them too. C'est la vie.
Hey, in a twist of fate, I happen to know Paul. Now, HE's smart.
If you are arguing that Santelli is wrong, then you are arguing that Leisman is right. I don't need to read your drivel to know that you are a LIB syncophant who has bought this ramrod hook line and sinker. the difference between you and me is that your waiting in line to share the vasoline with the rest of those who bend over and take it.
C'mon. You're going to parse words. Trained, paid, good ole' boy network. what's the difference?
Oh come ON. What is he? Your lover? Geez it's just another dude on the floor. How about we replace every "Bolling" in my example with "Mook #1". The example still works. And I'm talking specifically about the oil futures pit, BTW. Perhaps not ALL of the NYMEX. There. Can we be friends again?
Once again, where does it show me arguing against Santelli's point of view in regards to the Housing bail-out?
I simply said that Santelli is over-rated . . . and that is pretty easy to see when ( as I posted on another thread in this Forum ) he's on MSNBC, which is full of elitists.
And once again, you show everyone here on ET how horrible your Reading Comprehension is.
Congratulations!
