White House Petition Launched To Ban HFT Market Abuse

Tyler Durden's picture




 

It appears five years of our constant denigration and a book by a world-famous and highly credible author has finally pushed "the people" to lobby for change on Wall Street...

Click image for link to petition

As The FT reports,

At
some point in time the chickens are going to come home to roost on the
HFT game,” said one Goldman insider
. “It’s a smart move for anyone to
become more diversified in their approach to the market.”

Of course, while in principle Zero Hedge supports the idea of crushing HFT - as we have been covering this market parasite for five years - at this point why bother?

It is not rocket surgery to realize that the only solution left to undo the broken, rigged, manipulated system western "capitalism" has become, is to let the HFTs cannibalize each other to death, and let the Fed send the Russell 2000 to 200,000 and then either let it all crash right back to zero or unleash hyperinflation.

There is no other solution.

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Thu, 04/03/2014 - 14:59 | 4622121 Renewable Life
Renewable Life's picture

Can't wait to hear the reason from the WH, why they Can't do it!!

 

So much for "YES WE CAN"

Thu, 04/03/2014 - 15:04 | 4622152 Dr. Richard Head
Dr. Richard Head's picture

The same reason for the market crash and consumate bailouts, "The market need liquidity!"  The market needs liquidity like I need another wife...

Thu, 04/03/2014 - 15:06 | 4622164 NoDebt
NoDebt's picture

Has Piers Morgan been deported yet?  I seem to recall a petition about that, too.

Thu, 04/03/2014 - 15:08 | 4622175 Jack's Digestib...
Jack's Digestible Ideas's picture
"A whitehouse.gov account is required to sign Petitions"

 

No thank you.

Thu, 04/03/2014 - 15:16 | 4622203 NoDebt
NoDebt's picture

I know the Tylers are all behind this but if the government DOES step in to ban HFT, you won't like the resutls.  They'll fix one thing and break ten others, while leaving loop-holes in for their crony buddies.  Just let exchanges like IEX (which I predict will proliferate rapidly from this point forward) compete for trades and sort it out that way.

DON'T ASK FOR GOVERNMENT INVOLVEMENT IN ANYTHING, ESPECIALLY WHEN THE WORD "BANNED" IS INVOLVED.

I know it feels good to crack heads with the "might of governement" sometimes, but don't do it.  Doing this would be what's called and "unforced error".  HFT is already on it's way out.  We witnessed the beginning of it's demise yesterday, thanks to O'Brien at BATS.  The creeping cancer of the government is not needed this time, so don't invite them in.

Thu, 04/03/2014 - 15:16 | 4622217 lordylord
lordylord's picture

“It’s a smart move for anyone to become more diversified in their approach to the market.”

Translated:  Find another way to cheat and steal the wealth of the middle class.

Thu, 04/03/2014 - 15:18 | 4622224 Soul Glow
Soul Glow's picture

END THE FUCKING FED!

Thu, 04/03/2014 - 15:22 | 4622249 MillionDollarBogus_
MillionDollarBogus_'s picture

Let the markets collapse, or unleash hyperinflation..??

Really...??

That's your advice..??

Wow.,...

Thu, 04/03/2014 - 15:35 | 4622300 lordylord
lordylord's picture

Let's continue to allow the theft of wealth from this once great country.  Is that your advice?  I'd prefer for the curtain to fail.  But I guess some people are happy living safe and sound with papa Obama to tuck them in at night.

Thu, 04/03/2014 - 16:45 | 4622562 0b1knob
0b1knob's picture

"Be careful what you sign.   And to whom you give your documents.  Give me six lines written by the most honest man in the world, and I will find enough in them to hang him."

Some French guy.

Never sign a petition.    You could be signing your own death warrant or FEMA camp reservation.

Thu, 04/03/2014 - 15:59 | 4622408 Soul Glow
Soul Glow's picture

You're scared of the unknown.  Let it go.  There was life before the Fed, there will be life after.  Oh, and I'd bet my bottom silver dollar it will be much better.  Much better.

Thu, 04/03/2014 - 15:18 | 4622220 NotApplicable
NotApplicable's picture

For all you know, the Tylers might be in perfect agreement with your sentiment. Which I suspect is likely, given I cannot recall ever reading a Tyler written article on "government solutions."

Thu, 04/03/2014 - 15:26 | 4622268 NoDebt
NoDebt's picture

They just reworded the article.  A wise choice, I think.

Thu, 04/03/2014 - 16:42 | 4622555 booboo
booboo's picture

You are absolutely correct, now that the tide is going against the club they want their hired hands to bungle it up with The Law or to codify HFT under the guise of solving the problem

Thu, 04/03/2014 - 22:32 | 4623721 StychoKiller
StychoKiller's picture

IF the SEC would just zip-up and enforce the rules that are already in place...

Thu, 04/03/2014 - 15:53 | 4622382 Sudden Debt
Sudden Debt's picture

It just ask for you email. I signed the petition.
Sign it!

Thu, 04/03/2014 - 16:11 | 4622457 lordylord
lordylord's picture

Let us know if you get Obamacare spam. 

Thu, 04/03/2014 - 15:05 | 4622160 Hippocratic Oaf
Hippocratic Oaf's picture

Folksy folks don't like dat hi frequent trading shit. Why I told my wife, if I had a trader it'd look like a high frequent guy. Middle class folks hates 'em some high frequent trading.

Um-Amerikan.

Yes sir..............

 

-obama

Thu, 04/03/2014 - 15:19 | 4622215 hobopants
hobopants's picture

Ladies and gentlemen I present to you the fall guy for the coming collapse, lets give a round of applause for HFT! 

Thu, 04/03/2014 - 16:43 | 4622556 ebworthen
ebworthen's picture

"It's those darn computers Mabel."

"Oh I just know the government will fix it Floyd."

"You're right dear, lets go and watch the Nightly News with Brian Williams."

BTW - that website is like the comment box that feeds into a shredder.

Thu, 04/03/2014 - 17:15 | 4622649 Nobody For President
Nobody For President's picture

A greenie for 'comment box that feeds into a shredder'.

Thu, 04/03/2014 - 15:06 | 4622165 boogerbently
boogerbently's picture

I wonder how much information is required to "sign in" ???

Thu, 04/03/2014 - 15:09 | 4622181 RiverRoad
RiverRoad's picture

Sounds like a Plan!

Thu, 04/03/2014 - 15:16 | 4622213 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

I signed in. Basically a name, an email address and your zip code. Of course, I didn't falsify any of those. ;)

Thu, 04/03/2014 - 15:27 | 4622269 Dr. Engali
Dr. Engali's picture

The NSA thanks you for your cooperation.

Thu, 04/03/2014 - 14:58 | 4622123 GrinandBearit
GrinandBearit's picture

Another reason to LMFAO!

Thu, 04/03/2014 - 14:58 | 4622125 boogerbently
boogerbently's picture

"Denigration" ????

RACIST

 

 

 

 

<sarc>

Thu, 04/03/2014 - 15:00 | 4622130 alien-IQ
alien-IQ's picture

Yeah, that'll fix it...

Thu, 04/03/2014 - 15:01 | 4622133 ArkansasAngie
ArkansasAngie's picture

OK.

Did it.

Now what?  Wait a few years for CONgress to do nothing?

My faith is shaky

Thu, 04/03/2014 - 15:03 | 4622144 Spastica Rex
Spastica Rex's picture

Well, at least you added your data to an important government list.

Thu, 04/03/2014 - 15:19 | 4622230 NotApplicable
NotApplicable's picture

As well as supported the evil idea that fedgov is a legitimate entity of public control.

Thu, 04/03/2014 - 16:14 | 4622474 NOTaREALmerican
NOTaREALmerican's picture

Dear Citizen,

Thank you for your recent e-mail supporting communists and trrrsss trying to overthrow the most honest and open government in the entire universe.

Your e-mail has been forwarded to the NSA for quality purposes.

We will be contacting you shortly. 

Thank you.

The NSA.

( Note,  if you are randomly choosen to recieve the NSA Customer Service survey, be sure to give us 4's and 5's.  You're life may depend on it.)

Thu, 04/03/2014 - 15:02 | 4622138 Dr. Engali
Dr. Engali's picture

The chickens are coming home to roost:

 

 

http://youtu.be/208t80uceSg

Thu, 04/03/2014 - 15:05 | 4622159 NoDebt
NoDebt's picture

Oh, dats rayciss.  Not him saying it, of course.  You bringing it up.

Up arrow.

Thu, 04/03/2014 - 16:50 | 4622579 Pure Evil
Pure Evil's picture

Well, if dem chickens gonna be headin' home to roost, we be habin fried chicken tonight!

Thu, 04/03/2014 - 15:02 | 4622139 gjp
gjp's picture

How about end the Fed and fractional reserve banking, reinstate gold as settlement for international trade?  Without all of those, they'll just find another scam.

Thu, 04/03/2014 - 15:05 | 4622162 Dr. Richard Head
Dr. Richard Head's picture

You idealist!  DC will simply cut off the end of a tenticle of the squid and a new head will generate in its place. Nothing to see here...move on!

Thu, 04/03/2014 - 16:10 | 4622448 agstacks
agstacks's picture

You obviously haven't heard that there isn't enough gold for a "modern economy". 

 

\sarc

Thu, 04/03/2014 - 15:02 | 4622141 PlusTic
PlusTic's picture

unreal, these people define the word "ass clowns"...

Thu, 04/03/2014 - 15:09 | 4622166 Grande Tetons
Grande Tetons's picture

ASS CLOWNS  are two words. 

The one word deifinition would be dipshit. 

dipshit 1. A despised person; a moron; an ineffectual person; one with a habit of being wrong, loudly and often.
Thu, 04/03/2014 - 15:03 | 4622146 Emergency Ward
Emergency Ward's picture

Please, Obama, save us from those dirty wall streeters and banksters that bankrolled your election.....

Thu, 04/03/2014 - 15:04 | 4622155 Intoxicologist
Intoxicologist's picture

"A whitehouse.gov account is required to sign Petitions."

No, thanks.

Thu, 04/03/2014 - 15:07 | 4622170 NoDebt
NoDebt's picture

Exactly.

Thu, 04/03/2014 - 15:08 | 4622177 ParkAveFlasher
ParkAveFlasher's picture

Sounds like an invitation to be spammed by ACORN.

Thu, 04/03/2014 - 15:35 | 4622302 F.A. Hayek
F.A. Hayek's picture

Before signing up, just be sure to pack an overnight bag for yourself and leave it by the front door for easy access when getting dragged away to the gulag in the middle of the night.

Thu, 04/03/2014 - 16:02 | 4622411 TN Jed
TN Jed's picture

Only sometimes.  I said it before and I'll say it again.  Though I've never created an account there or signed any petition, when the ban guns petition was up a year or so ago I clicked the link to read it.  With no account there you should see highlighted "Sign In" or "Create an Account" buttons and a greyed out "Sign this Petition" button. But this time, those sign up buttons were greyed out and in place of what should have been the inactive Sign button was "You have already signed this petition."  That was the day there were well over 100,000 "signatures" within hours.  Be careful where you rubberneck online.  Curiosity on my part meant consent on theirs.

Thu, 04/03/2014 - 15:05 | 4622161 Algosaurus Rex
Algosaurus Rex's picture

Fair markets and trading nirvana in 3...2...1...2...

Thu, 04/03/2014 - 15:12 | 4622200 deeply indebted
deeply indebted's picture

Oh, sure, Big O will get right on this. I highly doubt he even knows what HFT is. Besides, wouldn't killing HFT at this point basically crash the system? Isn't HFT "helping" to obfuscate trades so that endless levitation by the TBTF can continue until we reach the mythical "escape velocity"? Sure, beg .gov and the inept SEC to "do something"...whatever. It's a waste of time. The ponzi will continue, on schedule, until it collapses under its own weight.

Thu, 04/03/2014 - 15:13 | 4622205 buzzsaw99
buzzsaw99's picture

Agreud.

Thu, 04/03/2014 - 15:13 | 4622206 gcjohns1971
gcjohns1971's picture

Can we petition whitehouse.gov to ban the whitehouse?

Do NOT follow this link or you will be banned from the site!