There was a delightful movie that reunited Robert Redford and Paul Newman called the Sting in the 1970s. The Premise was a couple of con artists were going to use the oldest trick in the book to scam a gangster out of his money, and that was the delayed wire. Information on a horse race across the country was going to be delayed so a last minute bet could be made that would take advantage of the victim's ignorance to make a killing.
The stock market reporters announced today the the University of Michigan and Thomsen Reuters have been running this scam on the stock market, except they claim not secretly. It is up on their website. (When did it get up there?)
It is a version of front running, and this is not news to the traders on the floor, but note the reporters swear they never knew. Interesting that. A half dozen financial reporters claiming they never knew. Think about that for a minute. Reporters claim they never knew about how markets work.
Stock ownership is at its lowest level in 40 years (but then how come the market is so high? Bubble.) How come? Because people know. What is next. The Government will step in and handle the accounts, your pension, from now on. Watch.
O, speaking of the sting, the NSA has a new theme song:
Feel free to forward this by email to three of your friends.
The stock market reporters announced today the the University of Michigan and Thomsen Reuters have been running this scam on the stock market, except they claim not secretly. It is up on their website. (When did it get up there?)
It is a version of front running, and this is not news to the traders on the floor, but note the reporters swear they never knew. Interesting that. A half dozen financial reporters claiming they never knew. Think about that for a minute. Reporters claim they never knew about how markets work.
Stock ownership is at its lowest level in 40 years (but then how come the market is so high? Bubble.) How come? Because people know. What is next. The Government will step in and handle the accounts, your pension, from now on. Watch.
O, speaking of the sting, the NSA has a new theme song:
Feel free to forward this by email to three of your friends.
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