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Two Days After Swearing Market Isn't Rigged, SEC Slaps NYSE Wrists For Rigging Markets

Tyler Durden's picture




 

It is somewhat ironic, actually make that criminal, that two days after new SEC head Mary Jo White (whose conflict of interest list is so vast courtesy of her prior position as defending every Wall Street from their criminal acts she now has to recuse herself from virtually every enforcement action) solemnly promised Congress under oath that the "markets are not rigged", the SEC comes out swinging and slaps the wrist of the NYSE with an intolerable $4.5 million fine for allowing market rigging "for a period of time from 2008 to 2012."

From the SEC complaint:

The Securities and Exchange Commission today announced an enforcement action against the New York Stock Exchange and two affiliated exchanges for their failure to comply with the responsibilities of self-regulatory organizations (SROs) to conduct their business operations in accordance with Commission-approved exchange rules and the federal securities laws.  Also charged was the NYSE exchanges’ affiliated routing broker Archipelago Securities.

The details:

“The order highlights instances where the exchanges conducted business without a rule in place due to weak or inadequate policies and procedures,” said Antonia Chion, an associate director in the SEC’s Division of Enforcement.  “In other instances, the exchanges did not operate in compliance with their effective rules.  Both failures reflect a troubling lack of compliance with the requirements and obligations imposed on securities exchanges.”

The violations detailed in the SEC’s order occurred during periods of time from 2008 to 2012.  The SEC’s order finds that the NYSE exchanges violated Section 19(b) and 19(g) of the Securities Exchange Act of 1934 through misconduct that included the following:

  • NYSE, NYSE Arca, and NYSE MKT (formerly NYSE Amex) used an error account maintained at Archipelago Securities to assume and trade out of securities positions without a rule in effect that permitted such trading and in a manner inconsistent with their rules for the routing broker, which limited Archipelago Securities’ activity primarily to outbound and inbound routing of orders on behalf of those exchanges.
  • NYSE provided co-location services to customers on disparate contractual terms without an exchange rule in effect that permitted and governed the provision of such services on a fair and equitable basis.
  • NYSE operated a block trading facility (New York Block Exchange) that for a period of time did not function in accordance with the rules submitted by NYSE and approved by the SEC.
  • NYSE distributed an automated feed of closing order imbalance information to its floor brokers at an earlier time than was specified in NYSE’s rules.
  • NYSE Arca failed to execute Mid-Point Passive Liquidity Orders (MPLOs) in locked markets (where the bid and ask prices are the same) contrary to its exchange rule in effect at the time.

In addition, the SEC’s order finds that NYSE Arca accepted MPLOs in sub-penny amounts for National Market System stocks trading at over $1.00 per share, in violation of Rule 612(a) of Regulation NMS.

 

The SEC’s order further finds that Archipelago Securities failed to establish and maintain policies reasonably designed to prevent the misuse of material, nonpublic information in connection with error account trading.  Archipelago Securities also violated and failed to give the SEC timely notice of its violation of the net capital rule – a critical federal securities law provision intended to ensure that brokers and dealers remain solvent and can meet their financial obligations.  

Or in other words, the SEC is claiming that for 5 years the NYSE was aiding and abetting the very same rigged market that the SEC swears does not exist.

It. Just. Does. Not. Compute.

 

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Thu, 05/01/2014 - 12:06 | 4716313 Xibalba
Xibalba's picture

This is a homophobic article.  Prepare to be banned for life, fined, and forced to liquidate all assets.  

Thu, 05/01/2014 - 12:20 | 4716395 Canadian Dirtlump
Canadian Dirtlump's picture

What the fuck is moe howard doing testifying in front of congress and why is he in drag?

Thu, 05/01/2014 - 12:22 | 4716412 SAT 800
SAT 800's picture

Shit fire and save matches; them Yankees is slipprier than deer guts on a doorknob.

Thu, 05/01/2014 - 12:29 | 4716450 Manthong
Manthong's picture

For some reason I have these images of the laid out maggot infested entrails of a hyena rotting in the desert in my mind.

I cannot figure out why that would be.

Thu, 05/01/2014 - 12:37 | 4716488 Pladizow
Pladizow's picture

And this is why wall st. will not get even one of my dollars!

It's a den of thieves!

Thu, 05/01/2014 - 13:28 | 4716755 SoilMyselfRotten
SoilMyselfRotten's picture

Mary Jo Whitewash...you go girl

Thu, 05/01/2014 - 13:54 | 4716854 Bananamerican
Bananamerican's picture

Three cheers for diversity!

It makes me proud to know that in AMERIKA even grotesque Lesbian dwarves can carry water for Wall Street Banks!

 

"Feel the Dildo Amerika!!™"

Thu, 05/01/2014 - 14:20 | 4716978 Save_America1st
Save_America1st's picture

so, gee...isn't that the same time period during which Jon Stewart's (of The Daily Show) brother, Larry Leibowitz, was COO of the NYSE?

Then he left...moved on to try and run away from his own corruption maybe? 

http://nypost.com/2013/11/26/jon-stewarts-brother-leaving-nyse/

 

He ran the joint from 2007 through end of 2013. 

http://www.linkedin.com/pub/larry-leibowitz/9/3aa/4a5

 

Maybe his Lib-tard, smart-ass, thinks-he-knows-it-all, typically fake-named brother would like to quip a few jokes about that some night, ay? 

 

Thu, 05/01/2014 - 14:28 | 4717016 Bay of Pigs
Bay of Pigs's picture

Thanks for posting that fact. Jon Stewart is clearly a liar and an asshole, covering for his brothers corruption and fraud issues at the NYSE.

Thu, 05/01/2014 - 15:31 | 4717279 RevRex
RevRex's picture

SEIG HEIL!

 

Hillary's new gal pal Adolpha?

Thu, 05/01/2014 - 18:09 | 4717878 Squid-puppets a...
Squid-puppets a-go-go's picture

$4.5 million? Is that it?

Nothing will get fixed. The US will instead collapse USSR like

Thu, 05/01/2014 - 15:25 | 4717245 Headbanger
Headbanger's picture

But Manthong... What do the entrails say?/  What do they foretell damn it!!??

Thu, 05/01/2014 - 16:49 | 4717617 SAT 800
SAT 800's picture

OOkay. It's probably just the general smell of the whole thing, I suppose.

Thu, 05/01/2014 - 12:29 | 4716456 SilverIsKing
SilverIsKing's picture

<- James Clapper

<- Mary Jo White

 

It's the game of 'who'd you rather', the perjury version.

 

Thu, 05/01/2014 - 12:38 | 4716507 yrad
yrad's picture

"Like playing poker with my sisters kids"

Thu, 05/01/2014 - 12:53 | 4716592 El Vaquero
El Vaquero's picture

Who would you rather what?  The what is the question.  Have sex with?  Shoot?  Because if it is the former, I'd rather do the latter to myself. 

Thu, 05/01/2014 - 13:53 | 4716812 Bananamerican
Bananamerican's picture

.

Thu, 05/01/2014 - 12:43 | 4716529 drendebe10
drendebe10's picture

"There ain't nuthin uglier than an old white woman."   Fred Sanford, Sanford and Son.

Thu, 05/01/2014 - 13:41 | 4716809 Financial Cold ...
Financial Cold Fusion's picture

Thu, 05/01/2014 - 16:53 | 4717633 SAT 800
SAT 800's picture

My ex-girlfriend in California sent me a picture of herself now that she's 70; dang gum; I'm gonna have a time forgetting that. I mean, I look okay, you know; but---what you said !

Thu, 05/01/2014 - 16:36 | 4717571 Zymurguy
Zymurguy's picture

Moe Howard?  I thought that was Mickey Rooney?

Thu, 05/01/2014 - 12:39 | 4716510 williambanzai7
williambanzai7's picture

HFT Polterscheisse...

Thu, 05/01/2014 - 12:53 | 4716593 maskone909
maskone909's picture

shit man.  you read my mind!  everytime i see that thing i think,"DONT LOOK INTO THE LIGHT!!"

Thu, 05/01/2014 - 17:38 | 4717791 Colonel Klink
Colonel Klink's picture

I'd rather look INTO the light so I'm blinded and don't have to see her.

Thu, 05/01/2014 - 14:34 | 4717046 Overfed
Overfed's picture

WTF is it with the O'bomb-a and Clinton administrations and their love for incredibly ugly bulldykes?

Thu, 05/01/2014 - 15:26 | 4717255 Headbanger
Headbanger's picture

One word...   Hillary.

Thu, 05/01/2014 - 16:54 | 4717637 SAT 800
SAT 800's picture

Don't do that, William ! I was innocently scrolling down my page and drinking mah diet Pepper, and damn this friggin thang hit me in the eyball. got pepper in mah nose.

Thu, 05/01/2014 - 12:07 | 4716318 Wm the Shrubber
Wm the Shrubber's picture

When do the torches and pitch forks come out?

Thu, 05/01/2014 - 12:09 | 4716339 McMolotov
McMolotov's picture

When the EBT spigot gets turned off and Dancing with the Stars gets canceled.

Thu, 05/01/2014 - 12:53 | 4716407 maskone909
maskone909's picture

saw a glimpse of the "real housewives" for the first time yesterday. worst 30 seconds of my life.  god help us.

Thu, 05/01/2014 - 16:56 | 4717647 SAT 800
SAT 800's picture

I'm sorry to tell you this; but God has left the building. He couldn't stand it any longer.

Thu, 05/01/2014 - 12:30 | 4716466 El Vaquero
El Vaquero's picture

Canceling DWTS, or whatever fuckwit show, will lead to some grumbling.  Cutting EBT off is where the real mayhem lies.  And by cutting it off, I'm including the possibility that the government, in all of its lying wisdom about inflation, does not raise the benefits fast enough to keep up with inflation, and EBT becomes useless as a possibility.

Thu, 05/01/2014 - 13:21 | 4716727 TheRideNeverEnds
TheRideNeverEnds's picture

I dont see that happening, the Free Shit Army is the largest one ever assembled in the known history of the universe.  Take away their bread and they will burn this this place to the ground.  

 

Congo 2.0

Thu, 05/01/2014 - 12:39 | 4716515 Stoploss
Stoploss's picture

It's times like these, when coons get fat.

Should we even bother to call our brokers?

When you have no rule of law in your country, does it really matter?

We should be settling the issues the old fashioned way.  Real law..

Thu, 05/01/2014 - 12:49 | 4716574 El Vaquero
El Vaquero's picture

If the government doesn't follow its own laws, why should you and I follow its laws?  The only reason I can cite is the use of force by a government SWAT team.  But ethically, why should we follow its laws if it doesn't follow them?  

Thu, 05/01/2014 - 12:54 | 4716601 Stoploss
Stoploss's picture

Bingo.  My thoughts exactly.

Thu, 05/01/2014 - 13:19 | 4716715 ArkansasAngie
ArkansasAngie's picture

Instead of us "starting" to break laws ... how about we force these yahoos into obeying the laws?

How ... by throwing the bums out

Thu, 05/01/2014 - 13:41 | 4716815 El Vaquero
El Vaquero's picture

In our current system, even if you elect new people who have good intentions, they will be corrupted, and will become bums.  In essence, you'll be replacing one bum with another.  Unless the bums you are referring to are on K Street.  Throwing those bums out might get you somewhere, so long as you make sure that they aren't replaced. 

Thu, 05/01/2014 - 12:50 | 4716575 El Vaquero
El Vaquero's picture

Double tap.

Thu, 05/01/2014 - 12:07 | 4716320 The Axe
The Axe's picture

Nothing happening here....move on....or just throw yourself on the third rail......wtf

Thu, 05/01/2014 - 16:58 | 4717657 SAT 800
SAT 800's picture

Don't forget to pee on it first to make sure it's turned on; otherwise you might just fall down and hurt your face. Just trying to be helpful.

Thu, 05/01/2014 - 12:07 | 4716321 mtndds
mtndds's picture

So the market really is rigged?!  I thought everyone was playing a honest game.  Shame on me!

Thu, 05/01/2014 - 12:07 | 4716326 PlusTic
PlusTic's picture

real surprise :o/sarc.!

Thu, 05/01/2014 - 12:08 | 4716332 Darkdoc
Darkdoc's picture

She means Now it's not rigged.

As of yesterday.

Thu, 05/01/2014 - 12:10 | 4716341 Osmium
Osmium's picture

Damn it, beat me to it.

Thu, 05/01/2014 - 12:10 | 4716342 NoDebt
NoDebt's picture

Exactly.  NOW it's cool.  Back then, no way.

Thu, 05/01/2014 - 12:13 | 4716364 Dre4dwolf
Dre4dwolf's picture

I'm sorry, but is everyone on drugs, or are we all being sarcastic?

Thu, 05/01/2014 - 12:15 | 4716371 NoDebt
NoDebt's picture

Would you like some drugs?

Thu, 05/01/2014 - 12:24 | 4716402 SheepDog-One
SheepDog-One's picture

Kan I haz drugs pleaz?

Thu, 05/01/2014 - 12:25 | 4716436 darteaus
darteaus's picture

"Mom!  SheepDog got into your stash again!"

Thu, 05/01/2014 - 12:46 | 4716524 Emergency Ward
Emergency Ward's picture

Dude, ARF !!

Thu, 05/01/2014 - 12:20 | 4716404 Dre4dwolf
Dre4dwolf's picture

Yes, please.

Thu, 05/01/2014 - 16:59 | 4717660 SAT 800
SAT 800's picture

I'm on Drugs ! Isn't everybody. Is this the wrong blog?

Fri, 05/02/2014 - 07:05 | 4719179 StychoKiller
StychoKiller's picture

Just what did they put in that Red Pill, anyway??

Thu, 05/01/2014 - 12:25 | 4716431 darteaus
darteaus's picture

For one day only!

Thu, 05/01/2014 - 12:09 | 4716338 Osmium
Osmium's picture

What she meant to say that it was rigged from 2008 to 2012, but NO WAY is it rigged today.

Thu, 05/01/2014 - 12:11 | 4716353 Confused
Confused's picture

So from 2008-2012, the fine amounts to $4.5 million? Seems fair considering the amount of profit that would have been generated from the rigging during that period.

 

Next farce. 

Thu, 05/01/2014 - 12:10 | 4716343 fockewulf190
fockewulf190's picture

We truly are living in Bizzaroland.  You just can´t make this shit up....yet, it´s here, upfront, and in our faces, every damn day.

Thu, 05/01/2014 - 12:14 | 4716368 NoDebt
NoDebt's picture

They don't even care if you see through their lies and bullshit.  You can't do anything about it and they know it. 

If they fool you, great.

If they didn't fool you, well fuck you anyway you fucking plebe, is their attitude.

Thu, 05/01/2014 - 12:17 | 4716390 Ban KKiller
Ban KKiller's picture

So Greenwich is fireproof? 

I prefer to be called serf. Reminds me of my childhood on Seal Beach. 

Thu, 05/01/2014 - 12:44 | 4716536 fockewulf190
fockewulf190's picture

$4.5 million.  You know what the first thing that flashed into my head upon reading that? That scene from Austin Powers when Dr.Evil threatens the world unless they pay a ridiculous ransom of "One.....Million.....Dollars!".  At least Dr.Evil came to his senses and upped the amount, quite unlike Mary Jo White who is being laughed at with her ridiculous "Four point five....Million....Dollars".

http://www.youtube.com/watch?v=jTmXHvGZiSY&list=RDcKKHSAE1gIs&index=0

Thu, 05/01/2014 - 13:44 | 4716825 Bananamerican
Bananamerican's picture

That is most likely, literally, one year's lunch tab at ONE TBTF bank

Thu, 05/01/2014 - 12:14 | 4716369 LawsofPhysics
LawsofPhysics's picture

Indeed.  I certainly hope that liberal fuck, john Stewart picks up on this hypocrisy.  I won't hold my breath, but plenty of "new material" as it were...

Thu, 05/01/2014 - 12:24 | 4716425 darteaus
darteaus's picture

I hear your sentiment, but of all the liberals. he is the only one who might pick up on it.

Thu, 05/01/2014 - 12:16 | 4716383 Bill of Rights
Bill of Rights's picture

The Majority are clueless and the rest of us hope to hit our calls :) casino indeed.

Thu, 05/01/2014 - 12:16 | 4716385 Bazinga
Bazinga's picture

Know what's even worse? It is BLATANTLY upfront and in our faces every day and THEY DON'T GIVE A SHIT!

Thu, 05/01/2014 - 12:12 | 4716362 waterhorse
waterhorse's picture

"The markets are not rigged," Mary Jo White told a House panel. "The US markets are the strongest and most reliable in the world."

 

“The game is rigged and the American people know that. They get it right down to their toes.”  - Elizabeth Warren

Thu, 05/01/2014 - 12:13 | 4716363 F.A. Hayek
F.A. Hayek's picture

Wow, $4.5 million is going to show everyone that they really mean business this time!

Thu, 05/01/2014 - 12:15 | 4716373 dontgoforit
dontgoforit's picture

So we've got a minor 'bleeder' here.  Cauterize and patch with some AB Weld and we'll be good to go for the next round.  No major SEC or FBI  movement on the Dimond mines....and where the fuck is Jon Corizine?  Not in jail.

Thu, 05/01/2014 - 12:15 | 4716374 ebworthen
ebworthen's picture

Another fine and no jail time.

Where's my $3 Million tax free?

Thu, 05/01/2014 - 17:02 | 4717671 SAT 800
SAT 800's picture

It's in the mail as soon as you respond to the E-mail from Ethiopia; didn't you get the note?

Thu, 05/01/2014 - 12:15 | 4716375 Ban KKiller
Ban KKiller's picture

Fox, see henhouse? Eat all the chickens you want. We will blame the other chickens for their lack of oversight. 

Mr. Eric Holder still takes the cake as total bank stooge. He did say law and order is for suckers! That is why I have zero respect for the laws unless those laws suit me. 

Thu, 05/01/2014 - 12:16 | 4716379 Amish Hacker
Amish Hacker's picture

There's no problem, but give us more money and we can solve it.

Thu, 05/01/2014 - 17:05 | 4717680 SAT 800
SAT 800's picture

Bing; that's it; that's .Gov right there. There's no fucking global warming whatsoever, but for 300 Billion dollars a year we'll fix it for you. We're from the Government and we're here to help. Oh, good. Just a minute while I go get my counselor Dr. Garand.

Thu, 05/01/2014 - 12:16 | 4716384 Conax
Conax's picture

4.5 million, huh?

There goes the coffee fund.

Thu, 05/01/2014 - 12:21 | 4716408 cowdiddly
cowdiddly's picture

Yep $750,000 per rigged market year. Glad they got that mess cleaned up.

Thu, 05/01/2014 - 12:41 | 4716525 JRobby
JRobby's picture

Coke & Escort Service fund intact!

Thu, 05/01/2014 - 12:17 | 4716391 SheepDog-One
SheepDog-One's picture

And where does that supposed fine money go, SEC bonus checks? What a corrupt shit hole the world is.

Thu, 05/01/2014 - 12:18 | 4716393 Ribeye
Ribeye's picture

the more of a farce it becomes, the closer we get to the final act, 

Thu, 05/01/2014 - 12:20 | 4716398 Tinky
Tinky's picture

That's exactly correct. Won't be long now...

Thu, 05/01/2014 - 12:43 | 4716522 medium giraffe
medium giraffe's picture

Thank goodness.  Their world is so bad I'd sooner it not exist at all.  I've got my walking boots and survival axe, I'm long overdue some time in the countryside.  Maybe go a bit native for a while.  Sounds great.

Thu, 05/01/2014 - 17:06 | 4717687 SAT 800
SAT 800's picture

I'll see ya and raise ya two sleeve Aces. Kinda reminds you of Rome after Tiberius.

Thu, 05/01/2014 - 12:28 | 4716448 El Hosel
El Hosel's picture

We must be fully Farcical by now, the Machine rolls on in the face of evey farce.

Thu, 05/01/2014 - 12:37 | 4716494 arby63
arby63's picture

You said it brother. It's all a joke now. This whole nation is cranky. You can almost taste the disgust and disbelief.

Thu, 05/01/2014 - 17:11 | 4717696 SAT 800
SAT 800's picture

Except that; you can't. Nobody around here in day-to-day land has a clue. They all think the Government is "pretty good"; probably doin the best they can; things'll probably work out, etc. etc. That's what they're counting on of course. That's why I want to start a "I'm Rootin for Putin" club; get some attention, get people to say WTF? and maybe READ something. They really, really, don't know anything.

Thu, 05/01/2014 - 12:20 | 4716399 kurt
kurt's picture

Remember when Caligula appointed a horse, or Clint Eastwood made the midget the Sheriff?

                  That.

Thu, 05/01/2014 - 12:25 | 4716432 El Hosel
El Hosel's picture

The "Officials"  must all swear not to tell the truth, otherwise time to collect on the insurance.

Thu, 05/01/2014 - 12:39 | 4716508 buzzsaw99
buzzsaw99's picture

And the Mayor!

Thu, 05/01/2014 - 12:23 | 4716417 darteaus
darteaus's picture

$1M per year of rigged market?

BWA-HAHAHA!!!

Thu, 05/01/2014 - 12:26 | 4716438 SheepDog-One
SheepDog-One's picture

I bet this amounts to a .001% criminal activity tax at most.

Thu, 05/01/2014 - 12:28 | 4716455 Bloody Muppet
Bloody Muppet's picture

Or $1 million for the couple of hours they had the cocaine party and forgot to.

Thu, 05/01/2014 - 17:13 | 4717708 SAT 800
SAT 800's picture

If they're gonna fine them,why don't they send the money out to the brokerage clients? What good does it do to transfer the money to black holes r us; AKA .Gov. Is that supposed to make me feel better?

Thu, 05/01/2014 - 12:23 | 4716420 Seasmoke
Seasmoke's picture

I don't see the irony ZeroHedge. Someone call Jon Stewart.

Thu, 05/01/2014 - 12:23 | 4716422 jms2112
jms2112's picture

HAHAHAHAHAHAHAHA

 

HAHAHAHAHAHAHAHAH!

 

this is too funny.  har har har har  You cannot make this shit up.

Thu, 05/01/2014 - 12:24 | 4716428 BlackSwanCrash
BlackSwanCrash's picture

yeah that was 2008-12, but its not rigged anymore , honest guv

Thu, 05/01/2014 - 12:25 | 4716433 Seasmoke
Seasmoke's picture

Clawback it all from Grasso.

Thu, 05/01/2014 - 12:26 | 4716434 Son of Captain Nemo
Son of Captain Nemo's picture

Mary Jo

But you are one fucking ugly "pimple on a festering boil with a splinter running through it", and this doesn't even take into consideration your work and professional integrity?!..

Thu, 05/01/2014 - 12:41 | 4716465 cowdiddly
cowdiddly's picture

"Yes maam I am drunk. But you are ugly. But, in the morning I will be sober, and you my dear will still be ugly".

Winston Churchill

 

Thu, 05/01/2014 - 14:08 | 4716926 drendebe10
drendebe10's picture

Again, "There ain't nuthin uglier than an old white woman."  Fred Sanford, Sanford and Son

Thu, 05/01/2014 - 12:28 | 4716452 Racer
Racer's picture

A nanosecond's profit taken from them, hmmm, now I wonder if that will prevent it happening again ....

 

Thu, 05/01/2014 - 12:29 | 4716458 thamnosma
thamnosma's picture

Mary Jo White is hot.

Thu, 05/01/2014 - 12:31 | 4716470 El Vaquero
El Vaquero's picture

Somebody is burning her at the stake?

Thu, 05/01/2014 - 12:37 | 4716496 Son of Captain Nemo
Son of Captain Nemo's picture

Somebody is burning her at the stake?...

Like all these whores in politics with their "hands out" they get a momentary twinge of guilt for the lies they tell that have destroyed so many and then look the other way when they are threatened... Diane Feinstein on investigating the CIAs rendition and torture program comes to mind.

If I had to guess the usual suspects for stake burnings I'd have to say it probably would be Stanley Fischer!

Thu, 05/01/2014 - 13:24 | 4716743 Kelley
Kelley's picture

Shuuuuut uuup. She's all mine!

Thu, 05/01/2014 - 12:30 | 4716459 Vooter
Vooter's picture

Hey, look up ahead--it's the camp train a-comin'!

All ABOARRRRRRRRD!!!

Thu, 05/01/2014 - 12:30 | 4716460 Ribeye
Ribeye's picture

didnt that Clippers guy get fined about half that for making a stupid jealous comment to his golddigger girlfriend, 

lol, 

Thu, 05/01/2014 - 12:46 | 4716545 JRobby
JRobby's picture

That was his second $2.5m fine. The first was for housing discrimination in LA. "Let's face it Ty, some people just don't belong"

Thu, 05/01/2014 - 17:16 | 4717721 SAT 800
SAT 800's picture

Sure they belong. They belong in Africa in a little primitive cluster of mud huts where they can't fuck anything up; because it's already totally fucked up just like it's been forever. they just don't belong here.

Thu, 05/01/2014 - 12:30 | 4716462 durablefaith
durablefaith's picture

That teaser picture of her swearing in is priceless. ROFL

Thu, 05/01/2014 - 12:46 | 4716550 JRobby
JRobby's picture

Multiply the receivable by 300 and add it to 1st Q GDP

Thu, 05/01/2014 - 12:35 | 4716482 irie1029
irie1029's picture

The whole lot needs to be kicked to the curb.  But the sheeple just see it as Dem vs. Rep stupid fucks.

Thu, 05/01/2014 - 12:47 | 4716554 JRobby
JRobby's picture

As scripted by the media oligarchy, it is truth.

Thu, 05/01/2014 - 12:44 | 4716516 buzzsaw99
buzzsaw99's picture

woof! That's a good dog!

Thu, 05/01/2014 - 12:45 | 4716543 Took Red Pill
Took Red Pill's picture

$4.5 million? Should be BILLION, at least. What a joke! Who says crime doesn't pay?

Thu, 05/01/2014 - 12:46 | 4716548 f16hoser
f16hoser's picture

Kabuki Theatre

America is Fucked.

Thu, 05/01/2014 - 12:46 | 4716549 NoTTD
NoTTD's picture

She meant it isn't rigged now.  That stopped in '12 - just check the fine.

Thu, 05/01/2014 - 12:58 | 4716618 rsnoble
rsnoble's picture

Sure it computes........for profiting gazillions of dollars some short fat ugle lebanese bitch lets them off for $4.5million.

Fuck the US gov't.

Thu, 05/01/2014 - 13:00 | 4716630 spzpeterusz
spzpeterusz's picture

so does anyone know  if  Scoot trade or fidelity sells their trade flow for $$

Thu, 05/01/2014 - 13:20 | 4716717 silverserfer
silverserfer's picture

they might as well have hired a mushroom for this job. 

Thu, 05/01/2014 - 13:47 | 4716834 Bananamerican
Bananamerican's picture

look more closely....

Thu, 05/01/2014 - 17:18 | 4717728 SAT 800
SAT 800's picture

Now, now that's kinda harsh, you know.

Thu, 05/01/2014 - 13:21 | 4716724 Kelley
Kelley's picture

I don't mind the articles exposing the SEC, but you've got to stop it with those pornilicious photos of that sexy thang Mary Jo White! hubba hubba

Note to self: Must. Not. Google. "Mary Joe White nude"

Thu, 05/01/2014 - 13:26 | 4716750 Herdee
Herdee's picture

Same Bullshit story with naked short selling.Ya,I know,it doesn't exist,then the SHO Threshold List,then investigations that mostly went  knowhere because the regulators were waiting for their bank & hedge fund jobs back after serving the SECFinally after years & years a few regulations were changed,only when the financial system was brought to its' knees.No,knowbody is being front run by high frequency trading.We're all to live in this naive world.No,government would never lie to the people.

Thu, 05/01/2014 - 17:19 | 4717734 SAT 800
SAT 800's picture

Certainly not; just ask any Indian.

Thu, 05/01/2014 - 13:32 | 4716773 SillyWabbits
SillyWabbits's picture

Let’s see –

 

            Dick Grasso, oversaw a bubble by listing companies with no revenue stream, inflated by analysts with no ethics; exaggerated by accounting firms with no scruples; overstated by corporations with no principles; overblown by experts with no morals; puffed-upped by money managers without integrity!  All wrapped in the red tape of enormous bankruptcies.

 

Based on the above algorithm he should have been overpaid and like the bubble he and his ilk oversaw, he should be busted just like the bubble for which he was so richly rewarded for stewarding. 

 

As so should they all since then!

Thu, 05/01/2014 - 17:20 | 4717739 SAT 800
SAT 800's picture

Maybe Divine Justice will occur. Hmm. prolly not.

Thu, 05/01/2014 - 13:34 | 4716782 Chuck Knoblauch
Chuck Knoblauch's picture

Her resume is being emailed among the HFT oligarchy.

She's just another hack.

Thu, 05/01/2014 - 13:56 | 4716866 madcows
madcows's picture

FU Mary Jo.  You lie to us like every f-ing politician.  Have faith in the system.  everything is fine.  keep paying your taxes.  i'm not taking vacations with goldman sax money.  eat your peas.  everything is getting better.  it's the summer of recovery.  go to work and support the system.  don't ask questions it's much to complex for you to understand.  just trust us.

Thu, 05/01/2014 - 13:58 | 4716880 Sundasher
Sundasher's picture

So the SEC won't let me be, or let me be me, so let me seee... it would feel so empty without Maryyy

Thu, 05/01/2014 - 14:03 | 4716906 drendebe10
drendebe10's picture

Lies, more lies and damn lies... quite a tone for the gummint the corrupt,  arrogant, narcissistic, pathologically lying, illegal alien indonesian kenyan muslim sociopathic fudge packer in chief has set for everyone in the country....  that's called "leadership"?????????

Thu, 05/01/2014 - 17:21 | 4717746 SAT 800
SAT 800's picture

Hey don't hold back go ahead and tell us how you feel about our murderer in Chief.

Thu, 05/01/2014 - 14:28 | 4717017 SmittyinLA
SmittyinLA's picture

4.5M LOL 

.......McCall also defended the NYSE chairman's $140 million compensation package

http://online.wsj.com/news/articles/SB106252762834943400

 


Thu, 05/01/2014 - 17:22 | 4717752 SAT 800
SAT 800's picture

Jesus, don't tell my ex-girlfriend she'll be camped out on his front porch.

Thu, 05/01/2014 - 15:02 | 4717144 cobra1650
cobra1650's picture

she is almost as repugnant as NBA Commissioner Silver....that is one ugly motherfucker

Thu, 05/01/2014 - 15:09 | 4717167 Petrus Romanus
Petrus Romanus's picture

WOW! These cunts are brazen. It's a cold world, and me without my muff. The same as Mr. Yellen and Mr. White I'll wager!

Thu, 05/01/2014 - 15:18 | 4717209 Woodhippie
Woodhippie's picture

We live in fucking Wonderland ...

Thu, 05/01/2014 - 15:41 | 4717321 Kelley
Kelley's picture

One MMilllyyyion Dollars!

- Dr. Evil

Thu, 05/01/2014 - 16:36 | 4717572 SweetDoug
SweetDoug's picture

'

'

'

Ya can't make dis shid up, can ya Durden?

 

Thanks for pissing me off for the 3 hour drive to my cottage!

 

•J•
V-V

Thu, 05/01/2014 - 16:55 | 4717638 Paracelsus
Paracelsus's picture

And I always thought Nixon was a bad President....

Thu, 05/01/2014 - 17:24 | 4717757 SAT 800
SAT 800's picture

And so closeth another day in the closing days of the great Empire.

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