Three new stock exchanges to open next month

Here4money said:
Minority-Owned Small Businesses Were Supposed To Get Priority. They May Not Have
Lawmakers did set aside $30 billion for smaller lenders, in part with the aim of helping business owners of color — like Ugboajah.

But a new report from the Small Business Administration's inspector general found that businesses owned by people of color may not have received loans as intended under the Paycheck Protection Program. There was no evidence, the report said, that the SBA told lenders to prioritize business owners in "underserved" markets, including business owners of color — something the CARES Act had specifically instructed the SBA to do.

https://www.cnbc.com/2020/05/09/coronavirus-ppp-may-have-left-minority-business-owners-behind.html
SMALL BUSINESS
Paycheck Protection Program may have left minority business owners behind due to an implementation failure


KEY POINTS
  • The Inspector General found that the Small Business Administration did not instruct lenders to prioritize underserved communities as called for under the CARES Act.
  • As a result minority, women-owned and rural businesses may not have received loans as intended.
  • The watchdog also called into question requirements issued by the Small Business Administration for loan forgiveness.


  • Minority, women-owned and rural small businesses may not have received loans under the Paycheck Protection Program because the Small Business Administration did not instruct lenders to prioritize underserved communities as called for under the law, according to an inspector general report.

    The watchdog report also found the SBA did not include demographic information on loan applications and, as a result, will likely not be able to determine whether funds went to underserved communities as intended.

    “Because the SBA did not provide guidance to lenders about prioritizing borrowers in underserved and rural markets, these borrowers, including rural, minority and women-owned businesses may not have received the loans as intended,” the inspector general said.
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So you're in favor of racism and discrimination as I understand? Why would "people of color" or women be favored over everyone else? It makes no sense.
 
guru said:
Favoring blacks is a form of discrimination. Yale lost a lawsuit for favoring blacks and discriminating against whites and Asians:
https://www.wsj.com/articles/justic...-race-in-undergraduate-admissions-11597351675

https://www.washingtonpost.com/poli...st-asian-americans-whites-its-wrong-question/
“the DOJ accused the university of using race-based preferences in deciding which applicants to admit as students, hurting Asian American and White applicants and favoring African Americans.”
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It's probably stemming from this ignorant view that "black people can't be racist". From a distance it looks like America is always racist, whether it's for white people or black people -- from one racist policy to another.
 
guru said:
Favoring blacks is a form of discrimination. Yale lost a lawsuit for favoring blacks and discriminating against whites and Asians:
https://www.wsj.com/articles/justic...-race-in-undergraduate-admissions-11597351675

https://www.washingtonpost.com/poli...st-asian-americans-whites-its-wrong-question/
“the DOJ accused the university of using race-based preferences in deciding which applicants to admit as students, hurting Asian American and White applicants and favoring African Americans.”
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Yes, I am aware of William Barr using the DOJ as a political tool to dismantle affirmative action and that they'll get laughed out of court just as the Harvard plaintiffs were if they bring on a lawsuit.
https://www.insidehighered.com/admi...harvards-policies-do-not-discriminate-against
https://en.wikipedia.org/wiki/Students_for_Fair_Admissions
https://en.wikipedia.org/wiki/Edward_Blum_(litigant)

d08 said:
So you're in favor of racism and discrimination as I understand? Why would "people of color" or women be favored over everyone else? It makes no sense.
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It doesn't matter what I'm in favor of, i'm just presenting the facts.
 
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Maybe this can lead into some longer extended market hours instead of a 6.5 hour trading day. Its 2020 not 1968. If money never sleeps why does wallstreet. Let's get rid of extended pre market and after market hours and open the exchanges to a minimum of 12 hrs a day.
 
S2007S said:
Maybe this can lead into some longer extended market hours instead of a 6.5 hour trading day. Its 2020 not 1968. If money never sleeps why does wallstreet. Let's get rid of extended pre market and after market hours and open the exchanges to a minimum of 12 hrs a day.
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From 6.5 hours to 12 huh?
Great idea.
We can get the the Dow to 37K by Xmas instead of 32.5.
 
S2007S said:
Maybe this can lead into some longer extended market hours instead of a 6.5 hour trading day. Its 2020 not 1968. If money never sleeps why does wallstreet. Let's get rid of extended pre market and after market hours and open the exchanges to a minimum of 12 hrs a day.
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Supply and demand. Exchanges did studies on this and there was no demand for longer hours. You can also look at the volume pre-market and after hours to get an idea of the demand. No exchange will refuse to grow when there will be demand, but it isn’t there.
 
guru said:
Supply and demand. Exchanges did studies on this and there was no demand for longer hours. You can also look at the volume pre-market and after hours to get an idea of the demand. No exchange will refuse to grow when there will be demand, but it isn’t there.
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Studies??? The only absolute study would be to keep exchanges open past the closing time to actually see where volume goes. I can guarantee you if after market hours became actual trading hours you would see volume just as you would throughout the day. Aside from that the reason why volumes drop off after hours is because after hours trading is worthless, the spreads are wide premarket and aftermarket. and because the only thing its good for is trading earnings.

What study suggested that an exact 6.5 hour trading day was best for volume demand? With electronic trading and absolutely no need for humans to run the floors its time to go longer hours.
 
S2007S said:
Studies??? The only absolute study would be to keep exchanges open past the closing time to actually see where volume goes. I can guarantee you if after market hours became actual trading hours you would see volume just as you would throughout the day. Aside from that the reason why volumes drop off after hours is because after hours trading is worthless, the spreads are wide premarket and aftermarket. and because the only thing its good for is trading earnings.

What study suggested that an exact 6.5 hour trading day was best for volume demand? With electronic trading and absolutely no need for humans to run the floors its time to go longer hours.
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They simply asked their customers, institutional traders and market makers if they’d be interested.
Also, part of the problem is how to handle news events and when to release earnings. It’s not like anyone wants to do earnings calls after midnight.
Options trading hours would also need to be aligned. And options could be arbitraged or gamed during news events anyway.
It’s easy to create a mess but not so easy to undo it.
 
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