High Frequency Trading

SilverSanchez · May 15, 2013

[youtube]http://www.youtube.com/watch?v=aNoNdN66Q5E[/youtube]

old news for some

southerncross · May 15, 2013

The article referred to at the end of the interview, some truly sickening stuff.

Is the SEC Covering Up Wall Street Crimes?

By Matt Taibbi
August 17, 2011 8:00 AM ET
SEC whistleblower shredder paper
Pete Gardner/Getty

Imagine a world in which a man who is repeatedly investigated for a string of serious crimes, but never prosecuted, has his slate wiped clean every time the cops fail to make a case. No more Lifetime channel specials where the murderer is unveiled after police stumble upon past intrigues in some old file "Hey, chief, didja know this guy had two wives die falling down the stairs?" No more burglary sprees cracked when some sharp cop sees the same name pop up in one too many witness statements. This is a different world, one far friendlier to lawbreakers, where even the suspicion of wrongdoing gets wiped from the record.

That, it now appears, is exactly how the Securities and Exchange Commission has been treating the Wall Street criminals who cratered the global economy a few years back. For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed. By whitewashing the files of some of the nation's worst financial criminals, the SEC has kept an entire generation of federal investigators in the dark about past inquiries into insider trading, fraud and market manipulation against companies like Goldman Sachs, Deutsche Bank and AIG. With a few strokes of the keyboard, the evidence gathered during thousands of investigations "18,000 ... including Madoff," as one high-ranking SEC official put it during a panicked meeting about the destruction has apparently disappeared forever into the wormhole of history.

SNIP
Click to expand...

Read more: http://www.rollingstone.com/politic...-up-wall-street-crimes-20110817#ixzz2TN3ClHIg
Follow us: @rollingstone on Twitter | RollingStone on Facebook

JulieW · May 15, 2013

Occasionally the rules of the game are shown in stark relief.

Donations, lobbying by high-speed traders on the rise: report
By Sarah N. Lynch
WASHINGTON | Mon May 13, 2013 1:02pm EDT

(Reuters) High-frequency trading firms increased their campaign contributions to federal lawmakers by 673 percent from the 2008 to the 2012 election cycle, according to a report that sheds light on their political connections in Washington and efforts to impact policymaking.

The report by the Washington-based nonprofit watchdog Citizens for Responsibility and Ethics in Washington (CREW) comes as U.S. financial market regulators mull whether new rules should be adopted to rein in high-speed traders, whom some critics accuse of harming smaller investors.

It compiles the campaign and lobbying records for 48 different firms like Citadel Investments, Getco, Knight Capital (KCG.N), Virtu Financial LLC and Tradeworx which engage in high-speed trading, a strategy that uses lightning-fast computers to search for ways to take advantage of tiny price moves in the marketplace.

It also identifies lawmakers who raked in the most campaign dollars over the course of three election cycles from high-frequency traders, with some of the biggest recipients from New York and Illinois, home to the country's two largest financial hubs.

The increases in campaign and lobbying spending marks a shift from just a few short years ago, when high-speed traders still were not well-known to the public and did not have much of a presence on Capitol Hill
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http://www.reuters.com/article/2013/05/13/us-campaign-highspeedtrading-idUSBRE94C0RG20130513

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High Frequency Trading

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