Lawsuit Mutual funds vs. NYSE/Specialist

Discussion in 'Order Execution' started by bmwstox, May 9, 2003.

  1. bmwstox


    I think the only way to stop the Specialist system and it's the NYSE monopoly is for the mutual fund families and pension funds to sue the NYSE on grounds of fraud, insider trading and the NYSE being a monopoly. I noticed CNBC did not carry the specialist being taken off in cuffs, I wonder why.

    If there are any mutual fund managers or pension fund managers etc. or even lawyers reading this, if I were you guys I would sue the NYSE for punitive damages. And this time rather than have the money go to Spitzer & co. have it go back to the ones who were raped. Turn the NYSE into a musuem, it should go the way of the ticker tape.

    If the board at the NYSE is paying Grasso $10 million per year, what do you expect him to say? "Oh, customer's come first, we run a fair and orderly market, we are great." And to John Wheeler at American Century, I feel your pain!

    We all need to get together and shut down the monopoly at the NYSE, however it's gonna take the institutions to grab their nuts and take a stand.

    - BMW

  2. The mutual funds and institutional investors have an incredible amount of power if they would use it, but for some reason they do not. They could put a stop to obscene CEO pay, options orgies, IPO games, the underwrting/analyst incest, plus the unfair trading practices at the NYSE. All they have to do is refuse to participate. Refuse to vote proxies in favor of management. Refuse to deal with unethical banks. Refuse to buy stocks on exchanges where they get hosed.

    The first person to take a stand will be lonely and the crooks will try to take him out. Too bad some rich loudmouth like Warren Buffett doesn't have the balls to lead the way. Instead, he'd rather take potshots at the president.
  3. Get rid of the NYSE like they got rid of TEENIES. Think first my son.

  4. That's soooo funnnnnyy

    I forgot there's no crooks in the NASDAQ or the ECNs's LMAO..
    that's why 2/3 rd of the NAZ 100 from three years ago trades at 5.00 or less....and he ECN's are often times nothing then imaginary volume that creates the misconception fo volume and activity.....ask MKXT about this....BTW. I hate to break this to you but you cannot close the NYSE or it's monopoly for one simple reason......Its' no different then s a private club believe it or not....some of their activities may be regulated by the SEC but they are a exclusive and private club..They are elf regulated and although they may say they are there to serve the public , they are there to make money just like all of us.
  5. Swipe


    I dont think anyone of importance reads this site.:p
  6. Does self-importance count?

  7. NO...only self indulgence....BTW...Since when have Mutual funds become the pasty white saviors??? They were raping investors all through the 80-90's with 8.5% sales fee, 2% annuals and missappropriations as well
  8. wow, TM. you actually said something i agree with.

    the nasdaq is a piece of shit compared to the NYSE -- trade it for a couple weeks and get back to us - - i'd love to hear how crossing, locking, and all the other bullshit is so much fairer than the NYSE

    ever see a size market short on the nasdaq?? talk about a rip...

    both markets are fine with me, and having both is in the best interests of the trader, investor, and piker.

    it's like God and Satan. neither one is really any better or worse than the other, but the fact that each exist gives the other one a good reason for being there.

  9. I beleive the NAZ is over as we knew it....they got greedy and turned it into a freaking free for all and helped usher in this f#ing decimalization...I mean, there was no sanity at one point with these clowns and every tom, dick and Schweitzer could make a market....
  10. Buffet has recently been taking pot shots at ceo pay.
    Has been urging shareholders to revolt against this as
    well as some other things. Caught it on the news.
    Also said he wasn't getting back into equities for a loooong time.



    #10     May 9, 2003