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New York AG Sends Subpoenas To HFT Firms Including Tower, Jump and Chopper
Now the vacuum tubes are really in trouble. Bloomberg reports that the NY AG Schneiderman is making good on his threat to go after (it remains to be seen if this is more than a publicity stunt, and actual enforcement actions follow) several New York HFT firms. Bloomberg reports:
- NY AG SAID SEEKING INFO ON SPECIAL ARRANGEMENTS WITH DARK POOLS
- NY AG SAID TO SEND SUBPOENAS TO FIRMS INCLUDING JUMP TRADING
- NY AG SAID TO SEND SUBPOENAS TO FIRMS INCLUDING CHOPPER
- NY AG SAID TO SEND SUBPOENAS TO FIRMS INCLUDING TOWER RESEARCH
Surely Goldman was in no way aware of this coming crack down wave on HFT traders when it washed its hands of the entire industry, and effectively gave up on the trading space in its current format. WSJ has more:
New York Attorney General Eric Schneiderman’s office sent its first wave of subpoenas to about a half-dozen high-frequency trading firms in an investigation into whether some rapid-fire firms have an unfair advantage over other trading outfits, according to a person familiar with the investigation.
The attorney general is seeking details about whether the firms have secret arrangements with stock exchanges or other trading venues that give the high-speed firms the ability to trade ahead of other investors, this person said.
We doubt this will go anywhere - after all go after HFTs and the rigged market gets it - but the idea of a vacuum tube doing a perp walk is strangely appealing.
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Maybe this will help the Tower guy:
http://gawker.com/the-astounding-conspiracy-theories-of-wall-street-geni...
Good thing Goldman announced they got out of HFT a couple weeks ago. Now there is no need to investigation any activities or connections to this by them.
The gawker article linked above is a dooooozy:
I just love their off-handed dismissal, because as we all know, this shit just happened for no good reason.
Since the courts have determined that corporations are people too, and they have all kinds of rights and shit, it follows that robots and their algorithms are people too. So can we throw the robots in jail? Can we fine the algorithms?
I find the comments even more interesting than the article.
"It is time to Jump off the Tower and head for da Chopper!"
Strange that all those names, Jump, Tower and Chopper (tommygun to gangters) kida go with the whole banker suicide/murder thing. Is this a subliminal message to the bankers to keep their mouth shut.
I would agree.
Based on the comments, the average IQ of the posters has to be just about into double figures or paid trolls.
JFK and RFK were threats to the already long established status quo. JFK was in the process of taking the entire thing right off their rails. RFK knew the score and was wise to the whole thing in the 50's (one need only read "The Enemy Within" to understand this).
Oklahoma City and 9/11 were simply done to destroy evidence. There were other ways in which the main players benefited from both but they were mainly to destroy incriminating evidence of previous misdeeds and events.
Read more here:
http://www.wanttoknow.info/911/Collateral-Damage-911-black_eagle_fund_tr...
Or watch here:
https://www.youtube.com/watch?v=CdE1Cwnymzc&list=PLXt7yfOczCEkht80W4S_b6...
HFT is gonna be the scapegoat for the next dramatic sell off......whichever year that occus
If that's the case, and they are being attacked now, the year you refer to will be THIS.
It is a good thing now I do not have to pay attention and I can move along...whew almost didnt feel normal there.
Oh yeah, new all time high surely guaranteed now.
Of course Goldman knew.....their HFT machines front-ran the news and let them know in advance.
Looks to me like they write the news. After all, they welcomed Michael Lewis with open arms exactly how long ago?
Keep in mind that this would also be a great way to have the government come in and thin out a crowded HFT space.
The algos have been trading against each other for years now, I imagine some of the more nimble playerz have floated to the top and they might not have the initials "Goldman Sachs" either. Well can't have that now can we?
I might need to follow up on this one:
http://madscienceunlimited.com/fiction/theexchange.html
... where it's 6 months later and GS sends in the mercenary goons to teach our grrrl some respect for her betters. Can you just fucking imagine how well that would go down? Epic lulz for sure. Oh hey and what if Diamond is hanging around bitching about I wish there was something to eat just when they break down the door? How much fun is that going to be? Stay tuned and we'll find out.
Competition is a Sin.
They write the laws.
They control the money supply & "care not who writes the laws."
Goldman didn't know shit in advance. They didn't need to. Goldman TOLD them what to do in the first place.
Goldman TOLD them what to do in the first place.
Absolutely!
dear HFT guys. we have your company surrounded. put the mouse and keyboards down. you will have no choice but to pay a miniscule fine and get promoted to a job at the SEC/treasury/jpmorgan/goldman. this is your last warning, or else! we really really mean it this time!
Presumably if NY AG Schneiderman has visited any prostitutes in his lifetime, we'll hear about it shortly when he's "Spitzered" for daring to threaten financial firms.
HFT isn't the problem.
The FED and that fucking useless cunt Yellen is the problem!!!!
Another fucking goobermint sideshow - what else is new??????????
Jump, you fuckers!
dont poke the bear. sudden loss of liquidity due to hft shops closing ? w/no retail buying the fed will have to expand its allowable asset purchases to include spy and /es
"Hello, were here from Goldman's, no, I mean the government..."
When are these guys going to get upset and crush the market to let TPTB just who's in charge?
A: never.
Gentlemen. For a small campaign contribution to help advance our cause and my political career, I'm sure we can make this all go away.
Exactly!!
All those firms who have not been paying for protection will now be pilloried. The big guys will get away as usual as the NY AG "rounds up the usual suspects".
Just imagine what I could do for a LARGE contribution!
Get to dah Choppah before you are forced to jump off a tower.
It's like the script is writing itself.
Shot, how can he run guns and drugs and do investigations at the same time? DAMNIT overtime pay
Funny I don't see JPM, GS, MS, Vitru or Citadel on that list. Why are they targeting the bait fish instead of going after the keepers? Jeez. These chumps are the sacrificial lambs. I know the answer but this move smells like a cover to keep the TBTF under the boot and make sure they stick to the plan. Ramp equities, and nailgun anyone in your firm who gets out of line.