You mean the SEC missed frontrunning and mom and pop investor rip-off for twenty years? In spite of the clear evidence? Our regulators are slow? Behind the curve? Stupid? Unconcerned? Clueless?
Yes, to the point what was going on a young trader was able to make a killing fighting what the thieves were doing. The actions of the bank of Canada lad prove we need no regulators. He simply saw what was wrong and fixed it.
Now that it has been exposed, the SEC officials all tear themselves away from their pornography viewing to get in front of cameras and harrumph. "Harrumph, I say" they say.
When you are proven so contemptible to the regulated that they know they can do what they like as long as they like, at some point the rest of us have to say enough. Fire all the regulators. We need not waste tax money on "regulating" industries that can regulate themselves.
Feel free to forward this by email to three of your friends.
A City trader who did not want to be named said when people in the US were creating the new architecture of electronic trading they should have thought harder about the loopholes in it.He noted how quickly the HFT sector had grown and started 'co-locating' in stock exchanges and how slowly the regulators were to react.'Regulators were behind the curve and not for the first time. The book has made them look stupid - unconcerned or completely clueless.'He said the flash crash and the Knight incident - which saw the company effectively destroyed in 45 minutes - were clues that were missed by regulators in the US.
Yes, to the point what was going on a young trader was able to make a killing fighting what the thieves were doing. The actions of the bank of Canada lad prove we need no regulators. He simply saw what was wrong and fixed it.
Now that it has been exposed, the SEC officials all tear themselves away from their pornography viewing to get in front of cameras and harrumph. "Harrumph, I say" they say.
When you are proven so contemptible to the regulated that they know they can do what they like as long as they like, at some point the rest of us have to say enough. Fire all the regulators. We need not waste tax money on "regulating" industries that can regulate themselves.
Feel free to forward this by email to three of your friends.
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