SEC to Congress: Nonsense, the markets are not rigged.

Grandluxe · Apr 29, 2014

US SEC chair to Congress: 'The markets are not rigged'
By Sarah N. Lynch
Tue, Apr 29, 2014, 1:26pm EDT
WASHINGTON, April 29 (Reuters) - U.S. Securities and Exchange Commission Chair Mary Jo White on Tuesday responded directly to allegations in Michael Lewis' new book about high-frequency trading markets.

"The markets are not rigged," she told a U.S. House of Representatives panel. "The U.S. markets are the strongest and most reliable in the world."

White's comments come nearly a month after Lewis' "Flash Boys: A Wall Street Revolt," was published. The book has re-ignited a fierce debate over the role of high-speed trading, and whether it may leave some investors at an unfair disadvantage.

White on Tuesday tried to soothe some concerns about whether firms are wrongfully trading ahead of others.

She said it "is not unlawful insider-trading."
http://finance.yahoo.com/news/us-sec-chair-congress-markets-152320290.html

looks like the SEC will not do anything about HFT. Time to adapt.

Tsing Tao · Apr 29, 2014

Well, if the SEC said it, it must be true. I mean why would the SEC lie about....er...wait.

Oh well.

ammo · Apr 29, 2014

they need to prove hft traders are racist, this would be enough oust them

drownpruf · Apr 29, 2014

Tsing Tao said:
Well, if the SEC said it, it must be true. I mean why would the SEC lie about....er...wait.

Oh well.

Worst SEC-Chmn imaginable... other than putting John Mack in there.

Bob111 · Apr 29, 2014

there you have it. as i said-if they have even tiny little bit of intention to do anything about it-they would do a couple things here and there to demonstrate that. instead-they did demonstrate the usual-they don't give a f** about it. they don't give a f** about you and me. it's a big club and you and i ain't in it.

https://www.youtube.com/watch?v=acLW1vFO-2Q

StarDust9182 · Apr 29, 2014

Bob111 said:
there you have it. as i said-if they have even tiny little bit of intention to do anything about it-they would do a couple things here and there to demonstrate that. instead-they did demonstrate the usual-they don't give a f** about it. they don't give a f** about you and me. it's a big club and you and i ain't in it.

https://www.youtube.com/watch?v=acLW1vFO-2Q

LOL. +1

Well I know I feel better now. Of course, the obvious question, had they turned out to be rigged, would have been: why was the SEC MIA for so long? Lucky they don't have to answer that question any more.

Grandluxe · Apr 29, 2014

Bob111 said:
there you have it. as i said-if they have even tiny little bit of intention to do anything about it-they would do a couple things here and there to demonstrate that. instead-they did demonstrate the usual-they don't give a f** about it. they don't give a f** about you and me. it's a big club and you and i ain't in it.

https://www.youtube.com/watch?v=acLW1vFO-2Q

They are not even trying to do anything, in fact they are telling you, the little trader, to shut up, shut your mouth and stop talking.

Bob111 · Apr 29, 2014

Grandluxe said:
They are not even trying to do anything, in fact they are telling you, the little trader, to shut up, shut your mouth and stop talking.

yep. it's a spit in our(the public) face. with one very straight message-f** off
meanwhile. when SEC is trying to convince congress that markets are fine,solid and secure-

http://www.elitetrader.com/vb/showthread.php?t=283734

and i'm still waiting for an answer from SEC-wtf went wrong during a flash crash?
and who pocket the money? out of what a** they come up with 60% away rule to bust those trades in flash crash? my question list is very long,but ok..i get it..fu** off,right?

mastacoli71 · Apr 29, 2014

Grandluxe said:
US SEC chair to Congress: 'The markets are not rigged'
By Sarah N. Lynch
Tue, Apr 29, 2014, 1:26pm EDT
WASHINGTON, April 29 (Reuters) - U.S. Securities and Exchange Commission Chair Mary Jo White on Tuesday responded directly to allegations in Michael Lewis' new book about high-frequency trading markets.

"The markets are not rigged," she told a U.S. House of Representatives panel. "The U.S. markets are the strongest and most reliable in the world."

White's comments come nearly a month after Lewis' "Flash Boys: A Wall Street Revolt," was published. The book has re-ignited a fierce debate over the role of high-speed trading, and whether it may leave some investors at an unfair disadvantage.

White on Tuesday tried to soothe some concerns about whether firms are wrongfully trading ahead of others.

She said it "is not unlawful insider-trading."
http://finance.yahoo.com/news/us-sec-chair-congress-markets-152320290.html

looks like the SEC will not do anything about HFT. Time to adapt.

so if she said a bear does not shit in the woods it means it is true? or the Pope is not Catholic? give me a break. one testimony does not make it go away.

if someone sees orders ahead of everyone else it is insider trading...not sure what the hell she is talking about. obviously she has no clue or is not well informed.

Satan's Helper · Apr 29, 2014

StarDust9182 said:
LOL. +1

Well I know I feel better now. Of course, the obvious question, had they turned out to be rigged, would have been: why was the SEC MIA for so long? Lucky they don't have to answer that question any more.

+1

At least I feel like I am not the only who who gets it.

They are the adults and we are the children. Children do what they are told and the adults decide what is right for us. Like it or not that is the way it is. The world is a Fucking crocked place.