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Filed: Timeline
Posted
You guys are socialist scum.

someone's sounding very rethuglicanish ;)

You guys are socialist scum.

need i remind you of a few comments you made that were similar in scope about realtors?

** realtors. they don't do me any good :lol:

Fuque you too :lol:

Filed: Country: United Kingdom
Timeline
Posted
Interesting and depressing at the same time.

What's so depressing about it? :unsure:

Because this is a story of how money is made without any value being added.

which is how we got ito this mess, in the first place.

Exactly. Not sure why this sort of thing is even allowed.

Why is what allowed? Trading? :wacko:

biden_pinhead.jpgspace.gifrolling-stones-american-flag-tongue.jpgspace.gifinside-geico.jpg
Filed: Timeline
Posted
Interesting and depressing at the same time.

What's so depressing about it? :unsure:

Because this is a story of how money is made without any value being added.

which is how we got ito this mess, in the first place.

Exactly. Not sure why this sort of thing is even allowed.

Why is what allowed? Trading? :wacko:

Again, I think this comes awefully close to insider trading - i.e. trading on information not yet available to the market at large. Insider trading ain't allowed, is it?

Filed: Country: United Kingdom
Timeline
Posted
Again, I think this comes awefully close to insider trading - i.e. trading on information not yet available to the market at large. Insider trading ain't allowed, is it?

It doesn't come close to insider trading. It's like saying that Mom & Pop trading at home through

eTrade don't have access to the same technology that Goldman Sachs does... well duh.

If Mom & Pop want to compete with GS, they have to subscribe to the same market feeds.

biden_pinhead.jpgspace.gifrolling-stones-american-flag-tongue.jpgspace.gifinside-geico.jpg
Posted
Again, I think this comes awefully close to insider trading - i.e. trading on information not yet available to the market at large. Insider trading ain't allowed, is it?

It doesn't come close to insider trading. It's like saying that Mom & Pop trading at home through

eTrade don't have access to the same technology that Goldman Sachs does... well duh.

If Mom & Pop want to compete with GS, they have to subscribe to the same market feeds.

But apparently mom and pop can't because they are not insiders like Goldman Sachs... Sorry, gotta believe this is something that should be illegal, but isn't because reform is nearly impossible when insiders are able to hold so much influence over regulating decision making as they do. Another insider perk...

B and J K-1 story

  • April 2004 met online
  • July 16, 2006 Met in person on her birthday in United Arab Emirates
  • August 4, 2006 sent certified mail I-129F packet Neb SC
  • August 9, 2006 NOA1
  • August 21, 2006 received NOA1 in mail
  • October 4, 5, 7, 13 & 17 2006 Touches! 50 day address change... Yes Judith is beautiful, quit staring at her passport photo and approve us!!! Shaming works! LOL
  • October 13, 2006 NOA2! November 2, 2006 NOA2? Huh? NVC already processed and sent us on to Abu Dhabi Consulate!
  • February 12, 2007 Abu Dhabi Interview SUCCESS!!! February 14 Visa in hand!
  • March 6, 2007 she is here!
  • MARCH 14, 2007 WE ARE MARRIED!!!
  • May 5, 2007 Sent AOS/EAD packet
  • May 11, 2007 NOA1 AOS/EAD
  • June 7, 2007 Biometrics appointment
  • June 8, 2007 first post biometrics touch, June 11, next touch...
  • August 1, 2007 AOS Interview! APPROVED!! EAD APPROVED TOO...
  • August 6, 2007 EAD card and Welcome Letter received!
  • August 13, 2007 GREEN CARD received!!! 375 days since mailing the I-129F!

    Remove Conditions:

  • May 1, 2009 first day to file
  • May 9, 2009 mailed I-751 to USCIS CS
Filed: Country: United Kingdom
Timeline
Posted
Again, I think this comes awefully close to insider trading - i.e. trading on information not yet available to the market at large. Insider trading ain't allowed, is it?

It doesn't come close to insider trading. It's like saying that Mom & Pop trading at home through

eTrade don't have access to the same technology that Goldman Sachs does... well duh.

If Mom & Pop want to compete with GS, they have to subscribe to the same market feeds.

But apparently mom and pop can't because they are not insiders like Goldman Sachs... Sorry, gotta believe this is something that should be illegal, but isn't because reform is nearly impossible when insiders are able to hold so much influence over regulating decision making as they do. Another insider perk...

I have access to the same market feeds as Goldman Sachs and I'm not an "insider".

Mom & Pop can too - just need to cough up the $$$.

biden_pinhead.jpgspace.gifrolling-stones-american-flag-tongue.jpgspace.gifinside-geico.jpg
Posted
Again, I think this comes awefully close to insider trading - i.e. trading on information not yet available to the market at large. Insider trading ain't allowed, is it?

It doesn't come close to insider trading. It's like saying that Mom & Pop trading at home through

eTrade don't have access to the same technology that Goldman Sachs does... well duh.

If Mom & Pop want to compete with GS, they have to subscribe to the same market feeds.

But apparently mom and pop can't because they are not insiders like Goldman Sachs... Sorry, gotta believe this is something that should be illegal, but isn't because reform is nearly impossible when insiders are able to hold so much influence over regulating decision making as they do. Another insider perk...

I have access to the same market feeds as Goldman Sachs and I'm not an "insider".

Mom & Pop can too - just need to cough up the $$.

I would have no difficulty believing you know more about this than I do from a technical standpoint. But the article points out better than I can, with my mere gut feeling this is wrong, and gives a tangible solution, I would be curious of your opinion on the specific problem and suggested solution:

Therefore, whether or not Goldman's lawyers have figured out how it can engage in High Frequency Trading and stay within the law, there is a strong case that this entire brand of financial engineering should be prohibited. The whole game should be slowed down. Bona fide investors should get in line under the rule of first come, first served. Anything else should be considered illegal market manipulation. No dummy transactions.
There is absolutely no gain to economic efficiency from having prices of securities change in milliseconds, and much gain to the opportunities for manipulation.

The need to restrain traders from exploiting their privileged knowledge is an old fight. During the New Deal, for example, many reformers proposed that floor specialists for investment bankers and brokerage houses simply be prohibited from trading for their own accounts. They should be there simply to execute buy and sell orders for customers. Otherwise, the conflict of interest would be overwhelming--and this was before computers. These reformers were overruled, but insider trading was explicitly prohibited (and good luck catching it.)

Now, as then, it is a mark of Wall Street's stranglehold on politics that the most sensible of remedies seem impossibly radical.
One very good way to damp down the dictatorship of the traders, and raise some needed revenue along the way, would be through a punitively high transactions tax on very short term trades. Genuine investors should get favored fax treatment.
Pure traders should be taxed, and very short term manipulation taxed into oblivion.

If the financial crisis has proven anything,
it is that capital markets have become an insiders' game in which trading profits crowd out the legitimate business of investment. The whole business-models of the most lucrative firms on Wall Street are a menace to the rest of the economy.
Until the Obama administration recognizes this most basic abuse and shuts it down, it will be more enabler than reformer.

B and J K-1 story

  • April 2004 met online
  • July 16, 2006 Met in person on her birthday in United Arab Emirates
  • August 4, 2006 sent certified mail I-129F packet Neb SC
  • August 9, 2006 NOA1
  • August 21, 2006 received NOA1 in mail
  • October 4, 5, 7, 13 & 17 2006 Touches! 50 day address change... Yes Judith is beautiful, quit staring at her passport photo and approve us!!! Shaming works! LOL
  • October 13, 2006 NOA2! November 2, 2006 NOA2? Huh? NVC already processed and sent us on to Abu Dhabi Consulate!
  • February 12, 2007 Abu Dhabi Interview SUCCESS!!! February 14 Visa in hand!
  • March 6, 2007 she is here!
  • MARCH 14, 2007 WE ARE MARRIED!!!
  • May 5, 2007 Sent AOS/EAD packet
  • May 11, 2007 NOA1 AOS/EAD
  • June 7, 2007 Biometrics appointment
  • June 8, 2007 first post biometrics touch, June 11, next touch...
  • August 1, 2007 AOS Interview! APPROVED!! EAD APPROVED TOO...
  • August 6, 2007 EAD card and Welcome Letter received!
  • August 13, 2007 GREEN CARD received!!! 375 days since mailing the I-129F!

    Remove Conditions:

  • May 1, 2009 first day to file
  • May 9, 2009 mailed I-751 to USCIS CS
Filed: Timeline
Posted
Again, I think this comes awefully close to insider trading - i.e. trading on information not yet available to the market at large. Insider trading ain't allowed, is it?

It doesn't come close to insider trading. It's like saying that Mom & Pop trading at home through

eTrade don't have access to the same technology that Goldman Sachs does... well duh. If Mom & Pop want to compete with GS, they have to subscribe to the same market feeds.

We all know that most investors will never have the same capabilities as the big dogs. The cost of both the most advanced market feeds as well as the cost of the systems processing them is prohibitive for mom and pop - and way beyond that - and always will be. I have to ask again, what value does high frequency trading add? We know it allows the big dogs to milk billions of dollars from the lesser investors. That's not really a value add. So what makes this desirable and why shouldn't it be outlawed?

Filed: Country: United Kingdom
Timeline
Posted
We all know that most investors will never have the same capabilities as the big dogs. The cost of both the most advanced market feeds as well as the cost of the systems processing them is prohibitive for mom and pop - and way beyond that - and always will be. I have to ask again, what value does high frequency trading add? We know it allows the big dogs to milk billions of dollars from the lesser investors. That's not really a value add. So what makes this desirable and why shouldn't it be outlawed?

High-frequency trading doesn't add or remove value any more than any other type of trading.

Every trade has a loser and a winner. What are you going to do, introduce a minumum latency

for all transactions? Require that programmers put "sleep" statements in their code to make it

fair to the Moms and Pops of the world?

biden_pinhead.jpgspace.gifrolling-stones-american-flag-tongue.jpgspace.gifinside-geico.jpg
Filed: Country: United Kingdom
Timeline
Posted
Bona fide investors should get in line under the rule of first come, first served. Anything else should be considered illegal market manipulation. No dummy transactions.

What's illegal about it? If a high-speed transaction goes through, there's a willing buyer and a willing seller.

For a human trader, a 50ms delay is insignificant - it only becomes significant for programmatic trading

where a computer algorithm decides when to buy and when to sell. One computer can buy or sell things

to another computer and the best computer will win, but computers can't "manipulate" the market any

more than people can. You still need a buyer to sell something and a seller to buy something. It is still

illegal to hit your own bid (i.e. become the highest bidder and sell to yourself) or take your own offer.

biden_pinhead.jpgspace.gifrolling-stones-american-flag-tongue.jpgspace.gifinside-geico.jpg
 

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