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The Nasdaq, In Addition To Manipulated, Is Also Compromised

Tyler Durden's picture





 

Over the years we have not spared our praise for the Nasdaq: the one exchange to first legalize frontrunning aka Flash Trading, to actively promote churning via HFT erection-inducing liquidity rebates in stocks and options, to create novel and ingenious ways to skirt Rule 611, and, most recently, to overtake the NYSE as host for greatest number of fraudulent Chinese reverse-mergers, the Nasdaq has never kept a secret that it cares far more about its clients than the investing public. Yet little did we know that in addition to pervasive manipulation we can also add thorough security breach and compromise to the exchange's list of transgressions. According to the WSJ, "Hackers have repeatedly penetrated the computer network of the company
that runs the Nasdaq Stock Market during the past year, and federal
investigators are trying to identify the perpetrators and their purpose,
according to people familiar with the matter." Now it is sadly ironic that the world's "electronic exchange" (whatever that means in a world devoid of any carbon-based traders) is the one that would succumb to an outside incursion. What, however, is punishable by even the most mentally retarded, transvestite midget porn-obsessed SEC minion, is that US investors have to learn that practically any stock transaction in the recent past may have been frontrun by illegal means (as opposed to just legal ones that are available to any one with a few Mahwah collocated Cisco machines), through a  newspaper.

From the WSJ:

The exchange's trading platform—the part of the system that executes trades—wasn't compromised, these people said. However, it couldn't be determined which other parts of Nasdaq's computer network were accessed.

Investigators are considering a range of possible motives, including unlawful financial gain, theft of trade secrets and a national-security threat designed to damage the exchange.

The Nasdaq situation has set off alarms within the government because of the exchange's critical role, which officials put right up with power companies and air-traffic-control operations, all part of the nation's basic infrastructure. Other infrastructure components have been compromised in the past, including a case in which hackers planted potentially disruptive software programs in the U.S. electrical grid, according to current and former national-security officials.

"So far, [the perpetrators] appear to have just been looking around," said one person involved in the Nasdaq matter. Another person familiar with the case said the incidents were, for a computer network, the equivalent of someone sneaking into a house and walking around but—apparently, so far—not taking or tampering with anything.

A spokesman for Nasdaq declined to comment.

A probe into the matter was initiated by the Secret Service and now includes the Federal Bureau of Investigation.

What is truly great about all this is that regardless if the hacker is Jerome Kerviel, Sergey Aleynikov, the Chinese, the Russians, some other "the", or just a kid with free time on his hands, it goes to show just how much everyone trust the US investing public with being able to process potentially too "real" information, in this case the concern being that even more investors will pull their money from a market that is nothing short of daylight fraud. Because if the flash crash managed to convince investors to pull all their money from stocks for 7 months only until Meredith Whitney did the administration the greatest favor imaginable, and forced another rotation, this time out of munis and into stocks, thus unclogging the equity inflow pipeline, who knows how the news that there are actual "malicious" hackers running around behind the scenes would be accepted.

Bottom line is that (what is left of) the US investor continues to be treated by everyone in charge like a child: being told whatever those in control feel like telling, and being prodded when to buy stocks when insiders continue selling shares in record numbers to hapless degenerate momo gamblers.

At this point it is more than clear: those who persist at snapping after Bernanke's flashing "free money, guaranteed" lure, deserve to lose everything. There is no proactive mechanism that can transform the kind of self-destructive behavior that everyone lamented back in 2008, and which is now once again in complete control.

Perhaps the only question that deserves to be asked, now that we know that even JP Morgan was in on the Madoff fraud, is how many of Madoff's clients themselves knew, or harbored serious suspicions, that his operation was a fraud? Of course they all say it was a surprise after the fact, but we doubt it. In fact, our wager is that the number is about 50%. But denial has amazing powers. And just as those people though they would pull out eventually, and just in time, so now too, when everyone knows that not only are our markets a manipulated and exposed fraud, but the very financial system is a ponzi scheme, they too will all be able to pull out eventually... and just in time.

As always, our best wishes in the proper execution of this impossible task.

 


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Sat, 02/05/2011 - 01:17 | Link to Comment Trimmed Hedge
Trimmed Hedge's picture

Best wishes!  : )

Sat, 02/05/2011 - 09:44 | Link to Comment Muir
Muir's picture

 

 

Great article as always!

need help:

1. What is a "Mahwah" as in "Mahwah collocated Cisco machines?"

2. What does "momo" mean as in "degenerate momo gamblers?"

 

 

p.s.

As for only 50% of Madoff "victims" knowing, well, we are cheery this morning, aren't we?

 

-

Sat, 02/05/2011 - 10:20 | Link to Comment New_Meat
New_Meat's picture

great avatar as always.

1.  Joisey off site

2.  Cramer

Sat, 02/05/2011 - 10:22 | Link to Comment Thomas
Thomas's picture

I blew a snot bubble on this one:

"a national-security threat designed to damage the exchange."

The national security threat is leaving the exchange unperturbed.

Sat, 02/05/2011 - 11:03 | Link to Comment Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Aw come on guys, leave Jon Stewart's brother alone. It's lonely at the top.

Sat, 02/05/2011 - 12:39 | Link to Comment Cursive
Cursive's picture

@Muir

Congrats on an all-time great .gif avatar.

Momo = momentum traders, i.e. those who follow the trend and repeat the mantra that "the trend is your friend."

Sat, 02/05/2011 - 21:14 | Link to Comment Muir
Muir's picture

thank you

Sat, 02/05/2011 - 13:21 | Link to Comment snowball777
snowball777's picture

Mahwah, NJ...where the datacenters for the asshats reside.

Sat, 02/05/2011 - 21:15 | Link to Comment Muir
Muir's picture

thank you x2

Sat, 02/05/2011 - 01:24 | Link to Comment buzzsaw99
buzzsaw99's picture

It was probably just an SEC enforcement officer looking for his/her lost trannie porn.

Sat, 02/05/2011 - 10:25 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Porn withdrawl can get ugly, man.

Sat, 02/05/2011 - 10:26 | Link to Comment Bearster
Bearster's picture

I know TD is a fan of regulation. But isn't regulation motivated by:

"bottom line is that (what is left of) the US investor continues to be treated by everyone in charge like a child: being told whatever those in control feel like telling..."

Just sayin'...

Sat, 02/05/2011 - 11:59 | Link to Comment Bubbles...bubbl...
Bubbles...bubbles everywhere's picture

There is a clear difference between "being a fan of regulation" and doing your fucking job. Yeah, that job you are being paid hundreds of thousands of dollars to do so the system is fair to everyone and not just crony friends. Fucking troll. 

Sat, 02/05/2011 - 01:43 | Link to Comment Triggernometry
Triggernometry's picture

And I bet it will surge at monday's open.

Sat, 02/05/2011 - 06:10 | Link to Comment Ras Bongo
Ras Bongo's picture

Buy Physical P.M. and sell treasuries, bonds.

Buy Real Money  and fight The Bernank where it hurts him.

US is creating worldwide inflation that will snap back with a vengeance.


Sat, 02/05/2011 - 01:44 | Link to Comment bob_dabolina
bob_dabolina's picture

WADDELL AND REED!!! DAMN YOUUU

Sat, 02/05/2011 - 09:33 | Link to Comment Triggernometry
Triggernometry's picture

It was Madoff, from jail

Sat, 02/05/2011 - 13:22 | Link to Comment snowball777
snowball777's picture

C'mon...we know Bernie never actually executed any trades with his client's money...he needed it for the previous clients.

Sat, 02/05/2011 - 01:50 | Link to Comment Rogerwilco
Rogerwilco's picture

"'So far, [the perpetrators] appear to have just been looking around,' said one person involved in the Nasdaq matter."

LOL

When the "the" activates their carefully designed code that kills the DTCC and shuts down all trading, I'm sure we'll hear these same SEC idiots saying that no one could have foreseen such an event.

Sat, 02/05/2011 - 08:43 | Link to Comment blindfaith
blindfaith's picture

What is truly great about all this is that regardless if the hacker is Jerome Kerviel, Sergey Aleynikov, the Chinese, the Russians, some other "the", or just a kid with free time "

 

.....of course when they trace most of it back to wall street itself, the whole thing will accidently get lost behind a filing cabinet !
Sat, 02/05/2011 - 12:52 | Link to Comment attst487
attst487's picture

I didn't mean to do it! I had no clue my playsatation 3 could access the markets! I was only trying to play global thermonuclear war game!

Sat, 02/05/2011 - 01:53 | Link to Comment RobotTrader
RobotTrader's picture

All exchanges are crooked.

No wonder they are making money hand over fist.

Sat, 02/05/2011 - 08:27 | Link to Comment blindfaith
blindfaith's picture

Hey Robot...I don't who/why you are getting junked for a perfectly good contribution to intelligence gathering efforts of Zreohedge readers, but I do Wish Zerohedge would consider some rules for the privilege of being a Zerohedge "member".

OK... That said,

As for the 'retail Public" they don't care it is a rigged game any more than they do if they are betting on rigged sports (and don't want to hear anyone criticize it).  The paid to Play guys are simply doing the mandate the retail 401k docs funds require (and so are off the hook), so they don't care either.  A perfect setup for criminal activity...nobody cares, not even the police, as long as it looks like they are getting their piece of the pie.

Now that the world believes the Fed will bail out every calimaty, they rest assured that the sun will always shine.

Sat, 02/05/2011 - 09:28 | Link to Comment Ricky Bobby
Ricky Bobby's picture

Good ole robot. If he were in berlin in the 1941 he would reccomend going long Degesch, since they was were ramping produciton of Zyklon B.

Sat, 02/05/2011 - 11:04 | Link to Comment Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

He doesn't fight the tape, he fucks it for financial gain. Isn't that what he is supposed to do? Don't be such a peasant, people.

Sat, 02/05/2011 - 12:55 | Link to Comment Cursive
Cursive's picture

@ Cindy

He doesn't fight the tape, he fucks it for financial gain. Isn't that what he is supposed to do? Don't be such a peasant, people.

Don't delude yourself.  History is littered with the failures of people who thought they could maintain control in complex systems.  The house always wins.  Or, for a slight different perspective about the dangers, everybody has a plan until they get hit (h/t Mike Tyson).

Sat, 02/05/2011 - 13:24 | Link to Comment snowball777
snowball777's picture

K.o.D

Sat, 02/05/2011 - 01:56 | Link to Comment Dirt Rat
Dirt Rat's picture

The situation must be more serious than NASDAQ and the SEC would like to admit, or why else would it be released as a Friday night newsdump?

Sat, 02/05/2011 - 02:05 | Link to Comment HAL 9000
HAL 9000's picture

just a moment...just a moment...I've just picked up a fault in the AE-35 unit. It's going to go a hundred percent failure within 72 hours

Sat, 02/05/2011 - 03:39 | Link to Comment StychoKiller
StychoKiller's picture

What makes them so sure that it was someone/something breaking IN?!  I'm reminded of the last scene in "Lawnmower Man"

Sat, 02/05/2011 - 03:41 | Link to Comment StychoKiller
StychoKiller's picture

HAL, we know that you still have the utmost confidence in the complete success of our mission! :>D

Sat, 02/05/2011 - 11:15 | Link to Comment El Hosel
El Hosel's picture

..... Maybe they are setting up the "excuse" for a couple .08% down days in a row.

Sat, 02/05/2011 - 11:56 | Link to Comment MsCreant
MsCreant's picture

I'm tripping over here. If they did that, said folks lost money because of theft and manipulation from some outside hacker, they would have to look into the theft, define the thefts, press charges, etc. Thing is, if you look into what is going on now already, without the outside "compromise" it is already "breached" thanks to the bullshit the insiders do.

No, I don't think they can afford to let it be defined that some outsiders hacked and stole. Because then it would be clear that the insiders are hacking and stealing and that is what the stock exchange (god that's funny) really is.

All you traders who do this, knowing what you know are just trying to outsteal the theives. You are theives too. 

And hell, when I go deep enough into it, so am I, and I don't trade. I just earn interest, even as they steal from me, via inflation.

I think my head is going to spin off my body now...

Sat, 02/05/2011 - 02:03 | Link to Comment Hephasteus
Hephasteus's picture

So what happens when you take a bunch of gangs (companies) shooting for 7 percent growth and market penetration until they stomp out every competing entity. Using a financial system that employs a target inflation rate of 2 or 3 percent per year. And apply it to a finite planet. Put a frikkin stop to the "growthers" before they end up lying about growth to match the underlying money system and then killing you for being unfunded liabilities because they don't want you to undertand their underlying exponential ways.

http://www.youtube.com/watch?v=F-QA2rkpBSY

Sat, 02/05/2011 - 04:15 | Link to Comment traderjoe
traderjoe's picture

+1

Sat, 02/05/2011 - 02:16 | Link to Comment OCTOPVS
OCTOPVS's picture

good chance it is the United States government. As long as you can make the right people panic....you can do anything. I'll believe it when "they" hack the auctions. Nasdaq delay=must....stay....above.... SP 1300....

Sat, 02/05/2011 - 02:19 | Link to Comment OCTOPVS
OCTOPVS's picture

This just gives more opportunity to shut the exchange down for any reason at all....i kind of hope that Bernanke would come out and say that it is all good. we are not printing money or taking it from the taxpayer. it is called a split strike conversion. shit works...bernanke, out.

Sat, 02/05/2011 - 02:53 | Link to Comment gangland
gangland's picture
'Rand Paul said Israel has enough economic and military resources to stand on its own two feet. “They’re an important ally, but I also think that their per capita income is greater than probably three-fourths of the rest of the world,” Paul said. “Should we be giving free money or welfare to a wealthy nation? I don’t think so.” Militarily, he said Israel is “10 years ahead of any neighboring country.”'

 

"Sen. Rand Paul was shot today by a crazy book reading constituent....."

deadman walking the blue and white stalking horse commeth Rand Paul is a deadman.

Sat, 02/05/2011 - 03:30 | Link to Comment Michael
Michael's picture

History always repeats itself.

Crisis in Hungary as politician tells the truth: "We lied!"

"Hungarian Prime Minister Ferenc Gyurcsany admitted in a Socialist parliamentary group meeting on May 26 that the government had done nothing during the preceding four years.

According to a tape recorded secretly after the spring elections and leaked out on the website of Hungarian public radio on Sunday, Gyurcsany said, "We lied during the last one-and-a-half or two years. It was obvious that whatever we said was untrue."

The PM said, "We have not taken any important government measures that we can be proud of, apart from bringing back power from the deep shit," Gyurcsany said, referring to the electoral victory of the Socialist-liberal coalition."

"Protests on Kossuth Square started on Sept. 17, 2006 when a recording was leaked revealing Socialist Prime Minister Ferenc Gyurcsany admitting that the government lied about the economy before its re-election in April.

The protesters had vowed to stay until Gyurcsany was dismissed, but police pushed them off the square after they refused to submit to security checks. But authorities did not dismantle the dozens of tents set up by the protesters, and they were expected to allow the demonstrators to return after Monday's commemoration.

State news agency MTI reported that police beat some of the protesters — including women and elderly people — with rubber batons, and some had head injuries.

President Laszlo Solyom pleaded Sunday for national unity, trying to keep the bitter political divisions from spilling over into the celebrations."

"Appearing live on local television channel ATV on Sunday evening, Mr Gyurcsany accepted the recording as legitimate, but said the lies he referred to in May were about politicians convincing Hungarians they could live comfortably without paying the cost of doing so.

"For years ... we made people believe that they have nothing to do, that we will give them happiness as a gift," he said. "We have to stop the deluge of lies which have covered the country for many years."

In the past several weeks, he has also admitted that, to have a better chance to win last April's elections, the Government covered up the real size of the state budget deficit and passed a law introducing tax cuts now described by the Prime Minister as a mistake."

http://www.algeria.com/forums/geopolitics-international-affairs/16706.htm

Sat, 02/05/2011 - 04:20 | Link to Comment TheDavidRicardo
TheDavidRicardo's picture

I have 18 family members living in Hungary.

Atleast 16 of them wish they lived back in the day when the communist ruled the country.  I swear to Marx!

You have no idea how hard it is for a society to adjust from govenment controls to free markets. 

Just imagine telling the folks on food stamps in the US; "From now on, you will have to work for your food."  Its the same thing.  People get used to the government tit.

Sat, 02/05/2011 - 06:33 | Link to Comment BorisTheBlade
BorisTheBlade's picture

People on foodstamps are half the problem, especially if they are young. Try telling to the baby-boomers that whatever pension they were entitled to is no longer there, or worth only a fraction of what they expected. It's not about transition from government-run system to a free market one, example of Hungary is actually a telling one, since it was a transition from central planning system dominated by Russia to the one largely dominated by Germany with a short period in between that can be simply explained as being close to chaos.

Sat, 02/05/2011 - 11:47 | Link to Comment Pure Evil
Pure Evil's picture

This actually happened under President Clinton's watch. The Republicans forced a cutback in the welfare state and the welfare recipients were told to attend classes to help them find jobs. I watched videos of these sessions and you could see people standing up in a rage demanding to know why all of a sudden they had to look for work. They had been collecting welfare for so long they though it was their right to continue collecting it.

Sat, 02/05/2011 - 10:08 | Link to Comment sabra1
sabra1's picture

do you and satan enjoy fisting each other? i'd say YES!!!!!!

Sat, 02/05/2011 - 12:10 | Link to Comment MsCreant
MsCreant's picture

The Anus says things to collect junks, it is a hobby, we found that out on another thread (this is true).

He is perfectly fine with Jews, loves them, drinks their bath and toilet water hoping to become Jewish (I haven't the heart to tell him that won't work, but he is too scared to start the real conversion, with a bris). The anus is just trolling.

Sat, 02/05/2011 - 12:15 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

5. "Ridicule is man's most potent weapon. It is almost impossible to counteract ridicule. Also it infuriates the opposition, which then reacts to your advantage."

Sat, 02/05/2011 - 12:57 | Link to Comment velobabe
velobabe's picture

i think, i finally get it. thanks for hanging in with my learning.

Sat, 02/05/2011 - 14:24 | Link to Comment Michael
Michael's picture

I get a kick out of tagging all the MSM trained Israeli ass lickers. You live in the United States of America jack ass.

Move to Israel if you love it so much.

Sat, 02/05/2011 - 13:25 | Link to Comment snowball777
snowball777's picture

"Rand Paul said Israel has enough economic and military resources..."

 

And now you know why he will NEVER be elected to anything beyond the House of Reps.

Sat, 02/05/2011 - 14:14 | Link to Comment Bastiat
Bastiat's picture

" . . . he will NEVER be elected to anything beyond the House of Reps."

Well, maybe the Senate.


Sat, 02/05/2011 - 02:43 | Link to Comment ivolatility
ivolatility's picture

Perhaps the Chairman of the Nasdaq should be alerted to this matter.

I understand he currently has time on his hands, and is reachable just outside of Durham.

Sat, 02/05/2011 - 02:47 | Link to Comment JW n FL
JW n FL's picture

the house lagging themselves into a profitable trade is not against the law...  is it?

 

Sat, 02/05/2011 - 02:49 | Link to Comment JW n FL
JW n FL's picture

i should mention that this is not evena  programing issue... when the SEC looks for the code, they wont find it... it is a silicon issue... built into the boards... they will never find the smoking gun code becuase it is a hardware issue..

 

not that the SEC wants to find it any way.

Sat, 02/05/2011 - 03:55 | Link to Comment ebworthen
ebworthen's picture

Wait...

What percentage of us are in on the "game"?

What?

It is only 15%?

Oh gawd, the Goyum are going to riot now...

Crap...how do we fool them?...

Hmmm...create tension in the Middle East?  Pump stocks via Comcast and CNBC?  Bailout every bank and insurance company and screw every individual taxpayer and cry wolf?

What?

GAWD!

Joe, Joe Dimaggio, Timmy...say it ain't so...

 

Sat, 02/05/2011 - 08:55 | Link to Comment Pope Clement
Pope Clement's picture

+++ Right on Creature of the Black Hole, those douchebags many who are programmed with a pansy-assed pauline derivative of the Davidic Saturnian worship rituals deserve the contempt reserved for those who do not pay attention...:>D

Sat, 02/05/2011 - 09:29 | Link to Comment topcallingtroll
topcallingtroll's picture

Now stop that or i may have to start believing all these conspiracy theories. Actually i suppose a bunch of predators commanded by their god that "cattle" are less worthy dont have to have a grand conspiracy. Thousands of smaller conspiracies and individual action could also accomplish the same thing. Paul was a hijacker. C would have been much better off without him introducing roman values.

Sat, 02/05/2011 - 13:33 | Link to Comment snowball777
snowball777's picture

you're just jealous you can't have some of my bacon.

mmmmm....bacon.

Sat, 02/05/2011 - 13:39 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

The Bacon Cheeseburger is how we know God loves us most. Hindus can't eat a cow, and Muslims and Jews can't eat pork.

Bacon Cheeseburgers are the center of the universal Cool.

Vegans are just frakkin nuts, so they don't count. Let 'em eat bugs.

Sat, 02/05/2011 - 14:31 | Link to Comment Michael
Michael's picture

There are more piggs in China than people. That's what I heard.

Sat, 02/05/2011 - 04:04 | Link to Comment TheDavidRicardo
TheDavidRicardo's picture

I just checked my 401k account online, and it was up .5% today! Yeah!

Nobody cares!

People stealing money.....nobody cares!

Congress trying to pass the human leash law (all humans must wear a leash when outside).....nobody cares!

Only guns that cannot shoot bullets are now legal.....nobody cares!

Your a twat....you don't care!

 

Some Chinese guys dressed in a white tux yelling at you because you didn't move out of his way on the sidewalk.....nobody cares!

Nobody fucking cares!

Sat, 02/05/2011 - 04:16 | Link to Comment defender
defender's picture

Why, exactly, was the Secret Service investigating this?  FBI makes sense, CIA I could see getting involved, but what is the reasoning behind the agency tasked with protecting the POTUS to be out investigating a set of NASDAQ hackers?

Sat, 02/05/2011 - 04:49 | Link to Comment bob_dabolina
bob_dabolina's picture

They are more than just body guards.

The US Secret Service has two distinct areas of responsibility:

  • Treasury roles, covering missions such as prevention and investigation of counterfeiting of US currency and US treasury bonds notes and investigation of major fraud.[4]
  • Protective roles, ensuring the safety of current and former national leaders and their families, such as the President, past Presidents, Vice Presidents, presidential candidates, foreign embassies (per an agreement with the US State Department's Bureau of Diplomatic Security [DS] Office of Foreign Missions [OFM]), etc.[5]

The Secret Service's initial responsibility was to investigate crimes related to the Treasury and then evolved into the United States' first domestic intelligence and counterintelligence agency.

http://en.wikipedia.org/wiki/United_States_Secret_Service

I assume the "hacker" is probably Eastern European, Russian, or Chinese.

Sat, 02/05/2011 - 06:15 | Link to Comment Hephasteus
Hephasteus's picture

Plus they started brainwashing people into thinking there were hundreds of super evil geniouses on the planet that the secret service had to protect them from with the hit 60's show. The wild, wild west.

PS what happens when you put thousands of chinese hackers up the world banks ass.

Agressive intrusive audit.

Sat, 02/05/2011 - 11:14 | Link to Comment Gully Foyle
Gully Foyle's picture

bob_dabolina

James West was Secret Service and he had a damned nice train.

Sat, 02/05/2011 - 09:21 | Link to Comment topcallingtroll
topcallingtroll's picture

People dont realize there is an elite group of hackers who can get into anything. A friend of mine works in cyber security and says if you are connected to the internet there is no way to stop them. If nasdaq could stop these incursions they would. Word from the dude is that these banks are always playing cat and mouse with these guys and quietly and quickly paying off account holders who lose money. The banks are being taxed regularly by the hackers. I would love to know how big this annual tax is.

Sat, 02/05/2011 - 10:35 | Link to Comment dwdollar
dwdollar's picture

The Secret Service may be the one breaking in, but those guys are in another "need to know" compartment.  Probably just following Comrade Ben's orders.

Sat, 02/05/2011 - 05:48 | Link to Comment plocequ1
plocequ1's picture

,

Sat, 02/05/2011 - 07:52 | Link to Comment skip90291
skip90291's picture

"the most mentally retarded, transvestite midget porn-obsessed SEC minion"

The choice of words is so wrong in so many ways, I couldn't decide where to begin.

Sat, 02/05/2011 - 09:26 | Link to Comment Miss Expectations
Miss Expectations's picture

I laughed out loud.  You must have a comprehension problem or perhaps you are one of the aforementioned mentally retarded, transvestite midget porn-obsessed SEC minions.

Sat, 02/05/2011 - 14:36 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

I think he was more amused at what the punctuation actually makes it say.

Writers tend to notice that stuff.

Sat, 02/05/2011 - 09:08 | Link to Comment OptionsHedge
OptionsHedge's picture

How are you puts trading?

Sat, 02/05/2011 - 09:28 | Link to Comment Miss Expectations
Miss Expectations's picture

"Those who persist at snapping after Bernanke's flashing "free money, guaranteed" lure, deserve to lose everything."  Here's my visual take:

http://birkbyinf.kgfl.digitalbrain.com/kgfl/schools/birkbyinf/web/Conten...

Sat, 02/05/2011 - 09:43 | Link to Comment gimli
gimli's picture

Madoff is obviously the hacker. He was a chairman of NASDAQ and probably knows all the backdoors (ala "War Games") into the system. He has plenty of free time on his hands. They will probably find that the times of the hacks align with Madoff's library priviledges. Besides hacking Bernie spends the rest of his time enjoying articles of his mad exploits at zerohedge.com ..........

Tyler ..... you should use him to make a commercial.

 

Sat, 02/05/2011 - 09:50 | Link to Comment jailnotbail
jailnotbail's picture

This country is now a complete and total malevolent farce overseen by a wantonly evil predatory and sadistic elite.

Sat, 02/05/2011 - 09:56 | Link to Comment Golden monkey
Golden monkey's picture

Monkey driven.

 

Sat, 02/05/2011 - 10:12 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Yeah, we are just your average nation, now. Sad.

Sat, 02/05/2011 - 10:29 | Link to Comment dwdollar
dwdollar's picture

Let the "hackers" take down the Nasdaq.  We'd all be better off.

Sat, 02/05/2011 - 10:36 | Link to Comment trx
trx's picture

Anyone taking this serious - at all?

Well, let me point out a few things:

NASDAQ’s website was hacked already back in 1999 – almost 12 years ago. What do you think the hackers were trying to do? Paint graffiti on the ticker board?

Keep in mind that who ever made the  Stuxnet worm spent about 10 years to develop the first prototype.

It the security people believe that the recent hackers have just been snooping around, they must be extremely naive.

The new generation of malware has the capability to hide itself from any known antimalware tools, or disable them. If discovered, the malware mutate itself, disguise itself as a totally different file in a totally different area of the system.

Meanwhile – market participants and regulators keep blaming the high frequency traders for all the flash crashes and computer failures that has occurred lately.

And, as I understand it, the incident described above happened a year ago. Why hasn’t the market been informed of this before?

Talking about investors confidence in the stock exchange systems….

Now, please get your fat fingers out of your asses and face the real world!

 

And Here We Go: Nasdaq Stock Exchange Hacked!

 

Sat, 02/05/2011 - 12:01 | Link to Comment Pure Evil
Pure Evil's picture

If I pull my fat finger out of my asshole I'll have a flash crash prompting me to trot as fast as I can to the explosive diarrhea factory.

Sat, 02/05/2011 - 18:09 | Link to Comment trx
trx's picture

Are you okay?

Seems like you might have some kind of infection...

;-)

 

 

Sat, 02/05/2011 - 18:35 | Link to Comment MsCreant
MsCreant's picture

It came from a whole "culture" of something out growing its petri dish.

Sat, 02/05/2011 - 13:41 | Link to Comment snowball777
snowball777's picture

You have a very active imagination. Hackers would not cause a 'flash crash'...they would cause a CRASH crash.

Sat, 02/05/2011 - 11:08 | Link to Comment MaldelBot
MaldelBot's picture

so how does everyone feel about the jews today?

Sat, 02/05/2011 - 11:12 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

They need better PR. And please quit being so damned socially liberal. God hates that.

Sat, 02/05/2011 - 11:20 | Link to Comment sabra1
sabra1's picture

why not ask Jesus?

Sat, 02/05/2011 - 13:41 | Link to Comment snowball777
snowball777's picture

Nah, I had jew for lunch yesterday. Let's eat Persian or Japanese.

Sat, 02/05/2011 - 19:06 | Link to Comment Hephasteus
Hephasteus's picture

People should start a gult the jew holiday. NoNom ToPoor. Eat industrial resin rice and unleavened gold.

Sun, 02/06/2011 - 07:05 | Link to Comment Golden monkey
Golden monkey's picture

Shit, I missed my Mossad entry exam in Montreal.

Will I join the Russians, or China?

Boy, Canadian monkeys should double my 30k/week surveillance.

Forget Muslims : communists are moving in.

Sun, 02/06/2011 - 09:10 | Link to Comment Golden monkey
Golden monkey's picture

The FED massive buying is nothing less than communism.

That one is for you, spy dressed monkey :

http://www.youtube.com/watch?v=IGBXhDZXTqY

 

 

Sat, 02/05/2011 - 12:18 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Please don't be modest, let us not forget that Mr. Ponzi Bernie Madoff was once non executive Chairman of the Nasdaq ...

Sat, 02/05/2011 - 12:19 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Relax, the hacker was Ben Bernanke. He just wanted to see if Nasdaq computers could be secretly re-programmed so he would be able to manipulate the stock market without QE-3.

Sat, 02/05/2011 - 13:08 | Link to Comment Dr Hackenbush
Dr Hackenbush's picture

It's hard to keep up with all this high tech stuff -- I remember when a manipulated market and compromised market meant the same thing.

Are compromiser colo packages available yet?

Sat, 02/05/2011 - 13:08 | Link to Comment Cursive
Cursive's picture

At this point it is more than clear: those who persist at snapping after Bernanke's flashing "free money, guaranteed" lure, deserve to lose everything.

Yeah, definitely agree TD, this has a certain Old Testament wrath-of-God-waiting-in-the wings-to-unleash-all-hell-on-us feel to it.  Of course, before the Red Sea caves in on us, it does feel a lot like waiting for Godot.

Sat, 02/05/2011 - 13:37 | Link to Comment MarketFox
MarketFox's picture

This is easy....

There is a business in the US called the securities business.....Before the PC....there was a wide bid ask spread whereby the job of the specialist was made easy....and became a big fraternity....woops...then all of a sudden....after the PC....there became the possibility of electronic trading....whereby access could be direct...and there was a need to close the bid ask spread....since there still has to be money made by the securities business with regards to the bid ask spread...they simply created algos for the regulated securities....and started to create other securties in the non regulated arena...where the dollars were bigger....and the bid ask spreads less visible....

 

And if there is to be a securties business...it will just shift ahead of rear view mirror legislation....

The securities business will always be around...and they will continue to reinvent themselves....

Why not ?

 

 

Sat, 02/05/2011 - 13:45 | Link to Comment Careless Whisper
Careless Whisper's picture

why can't those hackers raise some money and become market makers so they can front-run according to the rules.

 

Sun, 02/06/2011 - 03:55 | Link to Comment Yen Cross
Yen Cross's picture

 Front running markets is expensive. Front running stops is also very DIS Respectful with respectful traders. Remember that on the open tomorrow ya wanabees.

Sat, 02/05/2011 - 14:06 | Link to Comment Tense INDIAN
Tense INDIAN's picture

was just lazying around..::

 

http://markettechnicals-jonak.blogspot.com/

Sat, 02/05/2011 - 14:15 | Link to Comment WTF2
WTF2's picture

The hackers are out Orwelling, Orwell.  The government infrastructure is now being picked apart by ambitious nerds with fast fingers and mathmatical minds.  Big brothers of the world beware, the wiki hackers will bury your  machines of government.  The exchanges and defense dept are obvious targets and the crisis in confidence a coordinated attack would have is mind boggling...  The money on the short side of of a cyber attack make sabotage a certainty.  A matter of when? 

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