Did anyone happen to catch the piece about the specialists being able to trade prop for their own account or something? I only caught like the last 10 seconds. They said something about a new rule change the sec would have to approve. Did anybody catch it? -Guru
Here is a link to the piece about saving the specialists and making the floor smaller: http://www.cnbc.com/id/15840232?video=295565579 -Guru
NYSE specialists have been able to establish tax-segregated omnibus accounts since 1949 (with amends to Federal Reserve Reg's T and U after 15 years of lobbying). THAT'S where "the money" is.