The NASD/SEC is all about legal largesse and scoring points... Firstly...they need cases on their resume to advance to the big corporate legal firms where the real money is.... There is blatant cronyism in terms of the legal fee business that drives much of their day to day operations.. Legal fees alone wipe out individuals and their families... There are so many double standards in the system...too big to fail...being connected is becoming more and more important.... The point is...nobody is policing the police... In America...its best to get as independent as you can....being a trader is close to this possibility if you can do it...
Should we apply this to murder and molestation. Since OJ was able to buy his way out of a murder conviction, and Jackson was able to buy his way out several times from molestation charges (at least till now), does that mean we should no longer prosecute any murders and molestation? I remember getting creamed in a stock in a matter of about 15 seconds (i'm talking about 2 points out of nowhere), and then finding out later that the AB Watley gang was shorting it hard ahead of a "squawk box" announcement. That is not fair. Yes, EVERY violator should be prosecuted, but in the meantime, i'll take what i can get. The more scumbags taken out, the better my chances are.
You're right. Remember COCO? The Nasdaq took from the little guys because of institutional "trader error".
Whoa whoa, not the same thing, not even close. OJ was prosecuted and did get creamed in civil court. Yeah he got away with murder, but he also lost almost all his money in the process. That and his reputation is stained and his prospects for future work have decreased. The rich may be able to get away with murder in this country but they certainly pay for it through the litigation process. Nothing in the US law states that you cannot get off scott free when you commit murder. It's all about the litigation process. Meanwhile when it comes to insider trading, we have an exchange where everyone front runs market moving orders and is rampant with insider information yet the only time anything is done is when they need some PR. Come on now. Oh ok, so when the floor traders or Steve Cohen's fund is doing it, it's ok but when some firm levels the playing field, it's not ok. That makes some sense, in a hypocritical sort of way.
If you pay attention this happens quite a lot. It must only be a coincidence when the stock movement precedes the news. Yeah right.
Please explain how I am being a hypocrite when I say that the more crooks taken off, the better, until the system is improved to get them all? And please explain your own hypocritical statement, which is that a small minority of daytraders illegally screwing many other honest ones is a "level playing field." If it were level, then we'd ALL have the information.
I agree with you generally, but on this rare occasion I have to agree with Hydroblunt that once in awhile, especially up until a couple years ago, there have been exceptional moves and circumstances. Nonetheless, the crookedness is worse on the NAZ, both between the MMs and such incidents as that in COCO last year (which someone just mentioned).
This is not levelling the playing field. This is illegally getting an advantage by paying employees of another company to feed you privileged information.