trade through rules will apply to nasdaq for the 1st time. these new rules resulted at the behest of nyse and the specialist under the guise of creating a level playing field.
You were the one who made the statement about "the tidal wave of corporate crime has been growing and engulfing our nation and our economy for decades". I asked you to back that statement up with facts. Your reply was to call me an "ignoramus". This has been a very consistent style of your method of argument - obfuscate the issue at hand with pointless diatribes and if all else fails, insult the other person. I have exposed your real personality in the Observations of the NYSE Specialist thread - a know-it-all blowhard who likes to talk to impress but is just full of hot, stinking air. Since I am also a nice guy, I would like to suggest that you keep your posts here on ET to a minimum so as not to make too much of a fool of yourself.
If it is so prevalent, why not read about it all the time? And if the response of the government is so ineffective, there are enough Bush Bashers out there who would be happy enough to spoon feed it. Anyway, it is a question of economics. Think about the speeding BMWs on I 95, and Elliot Spitzer as being the speed camera. The road needs constant maintenance, if you bulldoze all the BMWs for speeding, you may have a short term spike in revenue to repair the road, but in the long run, where will the maintenance/sustenance come from?
In the first paragraph you say "this doesn't justify the system's continued existence." i.e. you imply it should be extinguished. In the second paragraph you say "contradicts what I really did say." So you imply that the spec should stay as the inference is only --some--.
It's called capitalism. Let those who want to be unfair carry on being so, for the following: 1. It keeps Elliot Spitzer in a job. 2. It keeps the system maintained (as in the I 95 analogy). 3. It keeps the politicians politicking. 4. It keeps you complaining. 5. It keeps the people dissatisfied pointing fingers at the politicians, so both are kept in a job. 6. So we have a functioning capitalist democracy, and the Republicans can say that they have been an economic success.
My point is that the NYSE isn't the one and only. There are many successful Exchanges around the globe. So the fact that you call it a "silly challenge" just exemplifies your short comings.
To now jimrockford hasn't got an answer. Jimho, jimrockford seems to be exhibiting arrogant communism, or communistic arrogance.
zdreq, I believe that the NYSE was vehemently opposed to the new rule change. It sounds to me like you are a bit confused about the trade thru rule. The old trade thru rule gave NYSE very strong, but very unfair, competitive advantages which it did not deserve. The old trade thru rule was one of the various government protections which helped make possible the ongoing NYSE racket. The new trade thru rule essentially eliminates the unfair advantage to NYSE. The new trade thru rule allows electronic markets to trade thru non-electronically executable NYSE quotes. The new trade thru rule is a step forward.
No, req, you exposed nothing about me. Your conduct in that other thread was primitive, abusive, childish, dishonest, and devoid of content. Anyone can verify this by reading it.
No, you do not understand. NYSE does not victimize every customer on every trade. It does, on balance, victimize customers. The good executions are outweighed by the bad. This is completely consistent with my belief that the specialist system should be eliminated.