This is why I don't have anything to do with the securities market anymore. The big guys can lie and cheat and all they get is a misery fine. A fine which they'll probably write off as the expense of doing "business."
Someone I know told me she was close to her broker & found out how they did things. If someone wanted to buy or sell say XYZ they would buy or sell it for them at some point that day. The broker, of course, made trades for themselves too. At the end of the day they allocate which trades went to who and the broker always took the better deals for themselves. (You know the lowest buys & the highest sales.) Ever wonder why you always seem to trade at the worst price of the day?
Oh, you mean like the Mormons and their failure to disclose many, many shell companies for hiding money? Lawyers and fines mitigated by such are cheaper by far :/
No need to worry anyone. If the brokers go belly up and their bank can’t eat the loss, our government will bail the banks out. I don’t know a lot about the stock market but things could get spicy from the sounds of the CAT system going up. Light may get shown on the high risk investments huge hedge funds have been involved in and could trigger margin calls. Could be a storm for short squeezes that trigger more margin calls. Suicide weekend sounds plausible for a scenario like that.
Goldman Sachs has its claws into the person sitting in the White House Presidents chair. SEC is a joke they went after Martha Stewart (2004) Look at us we caught a criminal. But 4 years later 2008 “Goldman Sachs has relentlessly tried to rewrite the history of the 2008 crash, pretending that it was never at risk of failure. That is simply false. As proved by an email from ten years ago (reproduced below), Goldman Sachs was ‘toast’ and would have gone bankrupt but for being bailed out by the United States government and taxpayers. Those bailouts saved the bank and the jobs, status and wealth of all the Goldman bankers. For example, the astronomical wealth of CEO Lloyd Blankfein, former President Gary Cohn and all the other Goldman partners only exists today because they were bailed out. Just like the shareholders in bankrupt Lehman Brothers, their stock and options would have been worthless, including the recently reported $3 billion ‘Goldman partners’ haul on crisis-era options.
Not $163 Million worth of transactions, 163 Million transactions, which could total multiple trillions of dollars.
This is why I don't have anything to do with the securities market anymore. The big guys can lie and cheat and all they get is a misery fine. A fine which they'll probably write off as the expense of doing "business."
This system is doomed to fail. Thank God!
Someone I know told me she was close to her broker & found out how they did things. If someone wanted to buy or sell say XYZ they would buy or sell it for them at some point that day. The broker, of course, made trades for themselves too. At the end of the day they allocate which trades went to who and the broker always took the better deals for themselves. (You know the lowest buys & the highest sales.) Ever wonder why you always seem to trade at the worst price of the day?
Oh, you mean like the Mormons and their failure to disclose many, many shell companies for hiding money? Lawyers and fines mitigated by such are cheaper by far :/
Game On Anon
No need to worry anyone. If the brokers go belly up and their bank can’t eat the loss, our government will bail the banks out. I don’t know a lot about the stock market but things could get spicy from the sounds of the CAT system going up. Light may get shown on the high risk investments huge hedge funds have been involved in and could trigger margin calls. Could be a storm for short squeezes that trigger more margin calls. Suicide weekend sounds plausible for a scenario like that.
If the crash of '29 is any reminder, smart anons will make a mental note to not walk under any tall buildings.
Goldman Sachs has its claws into the person sitting in the White House Presidents chair. SEC is a joke they went after Martha Stewart (2004) Look at us we caught a criminal. But 4 years later 2008 “Goldman Sachs has relentlessly tried to rewrite the history of the 2008 crash, pretending that it was never at risk of failure. That is simply false. As proved by an email from ten years ago (reproduced below), Goldman Sachs was ‘toast’ and would have gone bankrupt but for being bailed out by the United States government and taxpayers. Those bailouts saved the bank and the jobs, status and wealth of all the Goldman bankers. For example, the astronomical wealth of CEO Lloyd Blankfein, former President Gary Cohn and all the other Goldman partners only exists today because they were bailed out. Just like the shareholders in bankrupt Lehman Brothers, their stock and options would have been worthless, including the recently reported $3 billion ‘Goldman partners’ haul on crisis-era options.
Crime is just a fee