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US Taxpayers Pay For SEC To Arrange Early Release Of Data To HFTs

Tyler Durden's picture




 

Submitted by Sal Arnuk & Joe Saluzzi, via Themis Trading,

wait-what

The SEC reportedly does not like trading on information that is not yet public. Just ask SAC Capital, or if you prefer, watch the plethora of insider trading SEC news conferences in general.

Why, even this morning there is a WSJ story about the SEC’s investigation into the early leak and release of Medicare cancer related funding data , which is an investigation into a different government agency!

And remember last year, when the SEC began investigating Thompson Reuter’s early release of ISM data to certain high speed subscribers. While the SEC brought no charges against Thompson Reuters, the data firm did subsequently suspend its “tiered release” practice:

On Monday, Thomson Reuters announced that it was suspending a so-called “tiered release” of market moving data to elite clients. The data and news service had been selling the University of Michigan’s consumer sentiment numbers to paying clients at 9:54:58 on release days—two seconds before the information went to a broader set of clients at 9:55 am. That created an opportunity for high speed trading firms to rake in profits before the rest of the market knew which direction the impending news would propel trading.

(As an aside, AG Schneiderman brought public attention to that story, before the SEC began “looking into” Thompson Reuters’s practices, just as his office brought attention to the dark pool practices before the SEC began investigating those.)

Let’s fast forward, shall we?

*  *  *

Yesterday evening Scott Patterson, author of Dark Pools, published a Wall Street Journal story titled Fast Traders Are Getting Data From SEC Seconds Early. Apparently, two separate academic studies (University of Colorado / University of Chicago, and Columbia University) have found a lag between when paying subscribers received SEC Edgar filings, and when the public did on the SEC’s own website.

 

What Does This Mean? Does This Affect Anyone?

Any time a company files a report with the SEC, noting insider buying or selling by its officers for example, that document becomes public and viewable on the SEC’s website, EDGAR (Electronic Data Gathering Analysis and Retrieval). From the WSJ article:

When a company submits a document, the contractor forwards it to the Edgar subscribers and to the SEC website “at the same time,” according to the SEC. But the studies suggest that the SEC website can take anywhere from 10 seconds to more than a minute to post the documents, giving an advantage to the Edgar subscribers or their customers, who are often professional investors.

The SEC contracts an outside firm to run this database. This outside firm is currently Attain LLC, but it used to be NTT Data at the time the academic studies were conducted. These firms have about 40 subscribers who pay $1500 /month or $720,000 per year in revenue, in addition to the revenue these data firms receive from the SEC (US taxpayers). One of their subscribers is a firm called The Washington Service, and they even advertise the “speed and availability benefits of a value-added EDGAR or real-time insider data feed” on their website. Subscribing firms like the Washington Service in turn sell the fast access to other firms, like high speed trading firms, for undisclosed amounts.

Anyone trading in the market place during any of the thousands of company releases on EDGAR is of course affected. Prices move quickly and volumes surge as the early recipients get the information and trade ahead of the public.

What does the SEC say about this?

“We have reviewed the working paper and are taking the issues raised by it seriously. We are conducting a thorough assessment of the dissemination process, including timing increments, and will make any systems modifications that may be necessary to optimize the dissemination of information to investors and the markets.”

Some Questions.

1)      How could the SEC investigate early release of University of Michigan data last year while this practice is going on with their own data?

 

2)      How can the SEC investigate a competing government agency about the early release of Medicare payment policies, while they are a stakeholder themselves in the “selling data early” game?

 

3)      Does the fact that the agency is a stakeholder in the high speed trading / market structure debate color their objectivity and role as top cop?

 

4)      Could we have imagined anything more far-fetched and unlikely as this practice by the SEC itself?

We’ll answer the last question. No

*  *  *

And here is Nanex' Eric Hunsader asking the SEC a simple question:

 

 

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Wed, 10/29/2014 - 08:44 | 5389258 ekm1
ekm1's picture

Bank lobby being hit left right and center.

They have lost control of media.

Wed, 10/29/2014 - 08:49 | 5389268 LULZBank
LULZBank's picture

MIL lobby, bank lobby and politicians have got their heads so far up each others asses that you wouldn't be able to tell where one ends and the other starts.

 

When the seal team 6 or som esoldiers die in battlefield, you dont say that MIL is getting hit?!

Stop firing arrows in the dark hoping maybe this time you will hit the target.

Wed, 10/29/2014 - 08:52 | 5389287 Cognitive Dissonance
Cognitive Dissonance's picture

We are all equal. But some are more equal than others.

<How does it feel to slowly recognize 'We the People" live in a banana republic?>

Wed, 10/29/2014 - 09:05 | 5389315 Save_America1st
Save_America1st's picture

load up the nail guns, bitchez...

Wed, 10/29/2014 - 09:22 | 5389370 Rigger
Rigger's picture

Break out the shitgums too, have ourselves a real party…

Wed, 10/29/2014 - 10:01 | 5389487 max2205
max2205's picture

The real insiders get the same info a week before.

 

535 people don't care

Wed, 10/29/2014 - 10:08 | 5389513 Divided States ...
Divided States of America's picture

Exactly....there is nothing that can be done when the fuckers in power are OPENLY telling us to bend over and we oblige....I mean wake the fuck up America!

 

Wed, 10/29/2014 - 09:14 | 5389341 JRobby
JRobby's picture

Sounds right under our current system of government:

Tax people who are productive, if they do not pay, jail them.

Spend the tax money in immoral and insane ways including spying on said taxpayers and funding illegal activities to put taxpayers at further disadvantage.

Maintain the illusion of a legislature and judiciary that claim to be working in the best interest of the electorate and in support of the US Constitution.

Wed, 10/29/2014 - 10:58 | 5389715 chunga
chunga's picture

Doesn't "tiered release" sound a lot like "structured" in IRS speak?

These fucks should be civil forfeitured right to the Lake of FIre.

 

Wed, 10/29/2014 - 09:21 | 5389365 Sudden Debt
Sudden Debt's picture

we are all equal... WHO TOLD YOU THAT?????

I mean, I'm sorry but according to statistics from our central intelligence, I'm better than 74% of my countrymen and 92% better than the average person living on earth.

Just saying... just saying....

They tell that crap about everybody being equal to poor people so they can suck it up but guess what they teach the better off kids...

All equal... tell that to the guy living on the streets when it's winter while we are gaining 10 pounds in 10 days on to much food and drinks.

Wed, 10/29/2014 - 09:22 | 5389367 LawsofPhysics
LawsofPhysics's picture

Time to feed the tree of liberty...

nothing else will change this situation now.  Despite all of CD's eloquent mental masterbation, none of the current crimminals are going to willingly turn themselves in for indictment or give up the power and control they current have.

Wed, 10/29/2014 - 10:09 | 5389507 Cognitive Dissonance
Cognitive Dissonance's picture

"Time to feed the tree of liberty..."

Ultimately what you are talking about here is that in order for one minority (those who feel themselves oppressed and wish to 'do' something about it) to overthrow another (supposedly the oppressors, but in reality just the minions of the oppressors) the "tree of liberty" must be fed.

In the eyes of many this is impossible because the oppressor is too strong and the mindless oppressed too......well, mindless. An equally impossible possibility is for the masses to just say 'NO" and stop obeying. It would all be over in weeks and with much less blood would be shed.

There is often more than one way to solve a problem. Sadly we lack imagination and courage.

Wed, 10/29/2014 - 10:36 | 5389614 Prometheus the ...
Prometheus the Jester's picture

Exactly. NO is the key that defeats the empire.  See here for the more eloquent version.   http://www.deepleafproductions.com/wilsonlibrary/texts/raw-marquis.html

 

Wed, 10/29/2014 - 11:13 | 5389776 Fuku Ben
Fuku Ben's picture

We're all in a similar boat

So let's say banana planet

Wed, 10/29/2014 - 08:54 | 5389290 GetZeeGold
GetZeeGold's picture

 

 

It only makes sense the Fed shareholders should get first dibs.

Wed, 10/29/2014 - 09:25 | 5389391 SoDamnMad
SoDamnMad's picture

When the members of Seal Team 6 who raided Osama bin Ladin's lair get murdered... (because they don't want their knowledge to get out)

There, fixed it for you. You happy?

Wed, 10/29/2014 - 10:00 | 5389484 LULZBank
LULZBank's picture

Honey, it would take a lot more than that to make me happy.

Wed, 10/29/2014 - 08:49 | 5389274 Bloppy
Bloppy's picture

We already pay for SEC's porn time, why not this too?

 

Cosmo Magazine paying for "shirtless males", shuttle buses to entice college girls to vote for NC Senator Kay Hagan

http://tinyurl.com/lc6kx9m

Wed, 10/29/2014 - 09:07 | 5389324 TeamDepends
TeamDepends's picture

Wow! Hey college girls, Kaye Hagan thinks you are all a bunch of brain-dead zombies, will you prove her right?

Wed, 10/29/2014 - 09:28 | 5389397 centerline
centerline's picture

Rhetorical question?

Wed, 10/29/2014 - 09:30 | 5389403 pods
pods's picture

I'm in NC, and would just love to say that I cannot fucking wait until this (s)election is over with.  

pods

Wed, 10/29/2014 - 10:50 | 5389661 lincolnsteffens
lincolnsteffens's picture

I could care not much of a pound foolish about the elections. I'm in Massachusetts and though Charlie Baker has a real shot at the Govs. seat (a small positive) the big picture will not change until the people demand it.Revoke your voter registration, birth certificate, marriage license, "drivers" license. If everyone did this we would have taken the first step to throwing off government oppressors.

Everything you ever were taught in school or by news media, politicians, religious leaders, etc. was just useful garbage to create a false reality for just about everyone for the gain of those that control just about everything for profit.

Wed, 10/29/2014 - 09:35 | 5389415 shovelhead
shovelhead's picture

Imagine if Maxim magazine did the same thing enticing young males with strippers on campus to vote for a Republican candidate?

The howls of the Timberland & Flannel Ladies Society would be heard across the nation.

It might even require an ACT OF LEGISLATION.

Wed, 10/29/2014 - 08:50 | 5389275 SheepDog-One
SheepDog-One's picture

No one cares though.

Wed, 10/29/2014 - 08:54 | 5389294 GetZeeGold
GetZeeGold's picture

 

 

It's just that most people don't know.....probably would if they did.

Wed, 10/29/2014 - 08:55 | 5389297 trulz4lulz
trulz4lulz's picture

Oh, there are plenty of people that care, very few sheeple in M'urrika care, however.

Wed, 10/29/2014 - 09:04 | 5389311 ekm1
ekm1's picture

Desperation

Wed, 10/29/2014 - 08:58 | 5389299 Notsobadwlad
Notsobadwlad's picture

So, will the apparently pre-arranged and controlled loss of control be the excuse for for an arranged and controlled crashing of the markets?

"Well, sentor, if you had allowed us to manage the markets in the way we intended there would have been no loss of $35 trillion in market value and retirement accounts would not have been devasted"

"Senator, we do have a proposal that should be equitable for everyone. It involves the creation of a global market system that allows equal market access globally. It will be overseen by a global authority, above any country or political dispute."

Wed, 10/29/2014 - 09:22 | 5389369 centerline
centerline's picture

Think about it this way...

Either way it is going to fail.  So, option 1 is to ride it right into oblivion and wind up hanging from a lamp post.  Option 2 is to ride it short of oblivion and pass the blame to politicians.

And of course, the politicians will turn around and pass blame every direction possible.  Mostly at whomever is President (cough... Hillary... cough).  And of course at the Public itself as each individual public group (teachers, cops, USPS, etc.) all tear the friggin place down trying to claim pensions just like Ancient Rome.

Wed, 10/29/2014 - 10:02 | 5389488 valley chick
valley chick's picture

And you are correct and why I decided to cash out of the federal system.

Wed, 10/29/2014 - 11:03 | 5389733 lincolnsteffens
lincolnsteffens's picture

Didn't the Pope just call for that scenario a few months ago??

Wed, 10/29/2014 - 09:15 | 5389347 centerline
centerline's picture

ekm1...

Great observation.  I recall a couple of years ago the conversation here was about this.  The divide is just a matter of time as this mess begins to morph into an outright political crisis.  The next act is nearly upon us.

Bankers won't get bailed out again.  But, the damage to the system is going to fuck the taxpayers, middle class, etc. like never before anyhow.  Bankers have created a virtual black hole - and in the process already skimmed and spent rock star paychecks/bonuses.  This will set the stage for following act which is pension failures leading into outright sovereign failures - culminating in currency failures.  IMO.

Wed, 10/29/2014 - 09:24 | 5389390 LawsofPhysics
LawsofPhysics's picture

Well, if this is true, then I an glad lead and brass have been so cheap lately.  A lot of nice hardware on sale right now too.

Wed, 10/29/2014 - 09:27 | 5389394 NotApplicable
NotApplicable's picture

I don't understand how the two of you can believe that the banksters are separate from everything else that is fucked in the world, and that THEY are the ones who will pay the price.

IMO, all this does is to provide them with even MORE cover for their atrocities as they manipulate any and all margins to obscure the true depth of their global stranglehold.

If any of these predictions made at their expense ever come close to occurring, they will collapse the entire edifice first with a scapegoat already in place.

Honestly, this shit ain't that hard. Magic checkbooks rule over us all. To pretend they're dying off is infantile, as it ignores centuries of banksterism, and their primary tool, divide and conquer.

Wed, 10/29/2014 - 09:38 | 5389421 LULZBank
LULZBank's picture

Feed people what they are desperate to hear, does not has to make any sense.

 

Its like saying the bouncers at the door are going to assasinate the club owners and take over the joint because they have big muscles.

Wed, 10/29/2014 - 09:40 | 5389428 centerline
centerline's picture

Perhaps my wording is bad or needs clarification (assuming your post is a reply in part to me). 

The bankers systems simply prey off of human behavior.  It just works so well - every time.  And it will probably occur again in some fashion.  It all ties together.  All of it... especially if we drill down (no pun intended) to resources.

Bailing them out this time... again... is not going to happen straight up like it did last time.  No way.  But, it will happen in the name of "saving the system."  This is economic warfare after all when we take it to that resource - political level.

Scapegoating is already in play.  Has been since the beginning - by design.  This shit storm is morphing from a financial crisis (theft) into political and sovereign crisises.  That is the natural cover.  IMO, the Fed will at some point be the key player in the passing of blame.  And, in reality, career politicians are just as guilty too!  Ah, the perfect play... everyone has blood on their hands.  How convenient. 

 

Wed, 10/29/2014 - 10:22 | 5389564 Bioscale
Bioscale's picture

THEY did not get bailed out - they bailed out themselves. They own your republic, your parliament and president, guys, please stop pretending this is going to change on its own. The US folks are deep in sleep and are not going to do anything with it.

Your are making false hopes. It's not going to change without war on the US soil.

Wed, 10/29/2014 - 10:38 | 5389617 centerline
centerline's picture

No false hopes being held out here Bio.

What I am saying is that it all comes down one way or another.  It is just math.  We are not going to escape it.  And the actions of the last few years clearly indicate that everything will done to kick the proverbial can at the expense of greater damage later.  As expected. 

Don't know about war on US soil though.  That just makes it sound like you have an axe to grind.  The best outcome for the power elite is to pound civilization into some sort of global Hunger Games world... or 1984-ish outcome.  Right now we are in the Huxley phase!  lol.

Wed, 10/29/2014 - 09:33 | 5389408 Notsobadwlad
Notsobadwlad's picture

In the end, people will understand what they own and what they do not own.

Wed, 10/29/2014 - 09:34 | 5389383 LawsofPhysics
LawsofPhysics's picture

"Bank lobby being hit left right and center."  - BULLSHIT  they are doing just fine.  When I see heads rolling then I mght believe you, not before.

Wed, 10/29/2014 - 09:55 | 5389442 LULZBank
LULZBank's picture

Heads will not role as some of us might expect, or wish, more like.

Elites dont turn on each other as in calling hits on each other. Its bad for business and stability, more importantly their peace of mind and sets a wrong precedent.

The only times elites will assasinate someone is when all the rest of the elites have turned against one unanimously.

Or, a single elitist has enough power and resources to wipe out all others over night (as in movie Godfather).

If elites start suspecting that some of them are marked for assasination by others, then all of them would be taking out contracts on everybody else.

It cannot happen like that.

When elites want to destroy another elite, they just try to wipe out their wealth and erode their power, much more civilised and acceptable way.

FOR ALL PRACTICAL PURPOSES, THEY ARE NOT ENEMIES OF EACH OTHER, ONLY OPPONENTS IN A GAME TO FLEECE THE SHEEPLE.

 

e.g. Last Ottoman ruler.

The First World War was a disaster for the Ottoman Empire. British and allied forces had conquered Baghdad, Damascus, and Jerusalem during the war and most of the Empire was divided among the European allies.

Mehmed was expelled from Constantinople. Leaving aboard the British warship Malaya on 17 November, he went into exile in Malta; Mehmed later lived on the Italian Riviera.


Another example: Wilhelm II, German Emperor

 

ELITES DONT KILL EACH OTHER, ONLY EACH OTHERS PAWNS !!!

Wed, 10/29/2014 - 10:04 | 5389493 centerline
centerline's picture

I think you guys have a problem with the definition of "elite."  Most of the bankers and politicians we see every day are not the elites. 

Wed, 10/29/2014 - 10:06 | 5389497 LawsofPhysics
LawsofPhysics's picture

bingo.  I know a VC guy with has own island and security detail (not paid for by the .gov).  He speaks four languages and I might consider him elite.  The elite's names are never spoken and their assets are never known.

Wed, 10/29/2014 - 10:13 | 5389532 ekm1
ekm1's picture

It is not possible to rule from the darkness. It just defies the whole logic of 'ruling'.

 

Rulers rule because everybody fears them.

Wed, 10/29/2014 - 11:15 | 5389791 Cardinal Fang
Cardinal Fang's picture

The Elites don't rule, that is too much like work.

Rulers rule because that is what the Elites tell them to do.

Wed, 10/29/2014 - 10:08 | 5389516 LULZBank
LULZBank's picture

 

Most of the bankers and politicians we see every day are not the elites. 

 

Foot soldiers and sergeants die everyother day, whats the big deal about it then?! (with reference to ekm1's post)

Wed, 10/29/2014 - 10:27 | 5389582 centerline
centerline's picture

Can't work off of that analogy really.  Rather, I just see it as sociopaths in different camps.  Thieves at this point in one form or another. 

Comes back to the old adage that there is no honor amongst thieves.  Another one is that wealth holds no allegiance to any country.

In my opinion, there is no coordinated effort or agreement between the powerful we do not see in the news everyday.  Rather, they too are pushing and pulling on the strings for power.  The end result is just chaos.  THAT is far more frightening (and realistic).

 

Wed, 10/29/2014 - 10:35 | 5389609 LULZBank
LULZBank's picture

When a small group is fucking a much larger group, it sticks tightly together, even if they have disagreements amongst themselves.

Wed, 10/29/2014 - 10:43 | 5389631 centerline
centerline's picture

Now, from that thought consider that there are all sorts of groups fucking the masses from different directions and competing for action.  And all sort of weasels and useful idiots playing along with the same game.  Trickle down corruption...  End result is chaos.  And why history just repeats itself.

Wed, 10/29/2014 - 10:51 | 5389669 LULZBank
LULZBank's picture

Totally agree with your post.

Just that, the elites will not be killing each other, only using their foot soldiers, useful idiots as pawns to advance their interest and die.

Chaos effects the ones with nowhere to go or hide.

Wed, 10/29/2014 - 11:03 | 5389738 centerline
centerline's picture

+1.  Pawns are the first up for sure.  And they will work right up the chain of command for cover.

What I am watching for though is some rifts at the higher levels of this global ponzi.  At some point I do believe "groups" whose actions where previously in alignment will shift.  The one between bankers and politicians is a big one.  But, the real owners of course will silently slip away because the real game is bigger than what we see.  How high up into the echelons of power does it go?  Who knows... but this time around is going to be a real show stopper.  And when it blows, we probably wont even see what happens at the top.  Kind of hoping we will.  But, not counting on it.

Wed, 10/29/2014 - 11:11 | 5389769 LULZBank
LULZBank's picture

If you cant identify the real owners then you (we) would never know when they get taken out.

Something like this:

http://www.bbc.com/news/uk-england-29815606

 

Wed, 10/29/2014 - 11:46 | 5389959 centerline
centerline's picture

Yup.  Instead, we can watch for the ripple effects (shockwaves per se).  Even then it will probably be like reading tea leaves. Oh well.  Not much different than what we have been doing here for the last handful of years! 

Wed, 10/29/2014 - 10:03 | 5389494 LawsofPhysics
LawsofPhysics's picture

Again.  Complete bullshit, but think what you like, we have work to do.

Wed, 10/29/2014 - 10:12 | 5389531 LULZBank
LULZBank's picture

I dont think, I quote history bitch.

Work like earning $12354 sitting on internet for a few hours like that others gus' friend's mom's sister?

Wed, 10/29/2014 - 10:51 | 5389663 smithlangra
smithlangra's picture

I'm impressed that anybody able to make $7397 in 4 weeks on the computer . this link www.swipebuck.com

Wed, 10/29/2014 - 12:17 | 5390122 mendigo
mendigo's picture

Yes - we say unpleasant things about them as they stuff thier pockets and sell off our children's future.

Enjoy.

Wed, 10/29/2014 - 08:46 | 5389264 TeamDepends
TeamDepends's picture

No taxation without representation!!!!!!

Wed, 10/29/2014 - 08:52 | 5389286 trulz4lulz
trulz4lulz's picture

"We Put the Quantum in Quantum Trading." TM

U.S. Securities and Exchange Commission

Wed, 10/29/2014 - 09:04 | 5389314 Notsobadwlad
Notsobadwlad's picture

Funny how that works for the elitists, but not for the people.

The people have no representation in government, on Wall Street and in the media. Apparently anyone entering the system is corrupted, feared or eliminated.

"Take my silver or take my lead."
-- Pablo Escobar (died of acute lead poisoning at the age of 44)

Where is Los Pepes?

Wed, 10/29/2014 - 08:47 | 5389266 Son of Captain Nemo
Son of Captain Nemo's picture

Sounds like a job for Bart Chilton, Brad Katsuyama and Michael Lewis!...

Wed, 10/29/2014 - 08:50 | 5389276 Son of Captain Nemo
Son of Captain Nemo's picture

And 60 minutes as the "mouth piece"!...

Wed, 10/29/2014 - 09:10 | 5389328 Notsobadwlad
Notsobadwlad's picture

Who if they actually do anything might then go the way of Andrew Breitbart, Tom Clancy and Michael Hastings ... who were supposedly collaborating on a book revealing the real Barrack (Lightning from on high) Obama.

... although no evidence of the book or the actual subject matter were ever released to the public.

Wed, 10/29/2014 - 08:47 | 5389269 Infinite QE
Infinite QE's picture

Free markets died a long time ago.

Wed, 10/29/2014 - 09:24 | 5389388 centerline
centerline's picture

They only get supressed.  Can't kill them though. 

Summarizes the entirety of modern history.  One grand attempt to squish the natural order of things. 

What was the definition of insanity again?

Wed, 10/29/2014 - 08:49 | 5389273 The Fonz...befo...
The Fonz...before shark jump's picture

Disgorgement

Wed, 10/29/2014 - 08:53 | 5389292 LULZBank
LULZBank's picture

You need to call the internet police.

Wed, 10/29/2014 - 09:07 | 5389321 GetZeeGold
GetZeeGold's picture

 

 

The cops are here......and good news......Al Shaprton is in charge.

Wed, 10/29/2014 - 08:51 | 5389280 buzzsaw99
buzzsaw99's picture

the question is how can anyone be dumb enough to trade on public info?

Wed, 10/29/2014 - 10:38 | 5389620 Bernie777
Bernie777's picture

Very true. News are even completely useless for trading human-size time frames, where traders have a chance to beat machines. That early data release advantage doesn't really matter to human participants.

Wed, 10/29/2014 - 08:52 | 5389283 Rainman
Rainman's picture

Can't be simple incompetence. Gotta be corruption.

  Crimerica rocks on !

Wed, 10/29/2014 - 08:51 | 5389285 semperfi
semperfi's picture

why stop here?  let's add to this list - 

US taxpayers pay....

- our reps to take away our constitutional rights

- our reps to pass laws banning toilets that flush over 1.6 liters

- our reps to govern against the will of the people

- our reps to spray the sky with chemtrails and not tell us the real reason

- our govt to lie to us all the time 

- our reps to create the Fed reserve and ruin our country via currency devaluation

next up...I could go on all day....

Wed, 10/29/2014 - 09:22 | 5389376 ejmoosa
ejmoosa's picture

So, are you pissed off enough yet to do something about it?

Wed, 10/29/2014 - 09:25 | 5389393 semperfi
semperfi's picture

suggestions please....

Wed, 10/29/2014 - 09:32 | 5389402 NotApplicable
NotApplicable's picture

Stop using the word "our" when referring to The Beast, as all you're doing is supporting their facade of integrity. Government is nothing but the most organized form of crime. Claiming allegiance to the mafia is no solution.

Wed, 10/29/2014 - 09:46 | 5389441 semperfi
semperfi's picture

Well, yes, all true.  But supposedly the USA was set up by the founders to have a govt "of, by, and for the people".  Of the people means we are shareholders, part owners.  We the people are to blame for getting lazy and letting "our leaders" do all the work.  Its gotten so bad that "we the people" don't even realize/know our constitutional rights and more importantly our DUTIES.  We the people have voluntarily morphed into We the Sheeple.

Wed, 10/29/2014 - 11:37 | 5389907 boodles
boodles's picture

Semper -- What do you do with sheep?  Herd them.   Obama-style.  But this doesn't solve the problem as our government, if to remain free, has to have active, informed and reasonably intelligent citizens. 

So how do you propose to turn sheep into citizens?

Wed, 10/29/2014 - 13:02 | 5390344 semperfi
semperfi's picture

I don't propose anything. There is no way.  History shows you how its going to play out.

Wed, 10/29/2014 - 09:53 | 5389455 ejmoosa
ejmoosa's picture

At this stage, I am just not sure what we can do that will make an impact.

We take our money out of the markets.  THey print money and hold it higher artificially.

We take our money and convert to Precious Metals.  They short those metals at 100-1, and no one bats an eye in the mainstream meadia.

We demand our politicians protect our Constitutional Rights and they laugh.  Even those we have the highest hope for think the answer is to pass laws to enforce the Constitution. How about arresting those that violate the Constitution Mr. Rand Paul?

Frankly, we are going to need a system wide reset.  Finding the right buttons to do so may take some time.

The first step may be that the Constitution has failed us.  A hard thing to acknowledge, but it is true.

Wed, 10/29/2014 - 11:33 | 5389882 boodles
boodles's picture

Agreed.  But, with Semper ... what are we going to do about it?  Semper -- what do you have in mind?

I'm one small woman but I'll do whatever it takes, if only ... only ... I had an overarching plan of action.  Without such clarity, it is difficult to plant one's feet in a direction and plod. 

It is concerning, to say the least, that everyone seems to diagnose the problem(s) but no one seems clear as to the solution(s).  There are just soo many moving parts: issues, laws, regulations, corrupt officials, stupid voters, Fed, Obama, ebola, etc. 

Two solutions, perhaps: 

1.  We need a Hegel, someone who can pull the camera back and see the big picture; someone who can put forth a meta-analysis and overarching vision.  Then, perhaps, the pieces will fall into some sort of schema which would allow us to grasp the problem and come up with some sort of corrective.

2.  We need to forget the Hegel-like vision, and do the doable things in front of us, such as taking over the school board, or fighting for changes in the fed personalities, etc. 

Wed, 10/29/2014 - 13:08 | 5390368 semperfi
semperfi's picture

At the strategic, biggest picture level, we can only watch it being played out unless you are one of the players in the game making decisions.  History tells us how its going to play out.  Which is: not good. 

Wed, 10/29/2014 - 14:45 | 5390899 RallyRoundTheFamily
RallyRoundTheFamily's picture

We have failed the constitution...remember that eternal vigilance thing?

What do you think we were supposed to look out for?

 

Wed, 10/29/2014 - 15:06 | 5390975 mendigo
mendigo's picture

Failure, option, not.

Wed, 10/29/2014 - 11:54 | 5389997 mendigo
mendigo's picture

Always vote and never again for red or blue or surrogate thereof.

Ask others to do same.

We need randomized selection process favoring plumbers over lawyers and with no vetting - anyone they dont like will be accused of child molesting.

Wed, 10/29/2014 - 08:54 | 5389288 i_call_you_my_base
i_call_you_my_base's picture

"Does This Affect Anyone?"

I hate statements like this. Who cares if it did or didn't? It's a bullshit practice.

Wed, 10/29/2014 - 14:54 | 5390938 RallyRoundTheFamily
RallyRoundTheFamily's picture

Who cares if I Lied\Cheated\Stole\Cameinyourmouth?

IMHO don't tell them the answers. just politely point out the msg MSM is pumping or topic du jour is bullshit.

Anyone worth saving is going to have to think and make up their own mind.

Wed, 10/29/2014 - 08:54 | 5389289 OW My Balls
OW My Balls's picture

If you like your sloppy 2nds you can keep your sloppy 2nds

Wed, 10/29/2014 - 09:09 | 5389327 GetZeeGold
GetZeeGold's picture

 

 

In case I faint.....I just want to say thank you Mr. President.

 

 

Wed, 10/29/2014 - 08:55 | 5389296 all-priced-in
all-priced-in's picture

Why not just release the data when the market is closed?

 

Because then it would be more difficult for some connected players to profit from the information with almost zero risk.

 

If they wanted to be fair about it they could - they don't.

 

 

Wed, 10/29/2014 - 08:55 | 5389298 SheepDog-One
SheepDog-One's picture

I showed this article to my co-workers and their general reply was 'Huh...so are stawks up? Well seems like a good deal then.'
No hope, all is lost.

Wed, 10/29/2014 - 09:07 | 5389325 Cthonic
Cthonic's picture

You can completely power down an electric fence and most cattle won't notice for a while.

Wed, 10/29/2014 - 11:20 | 5389813 Budd aka Sidewinder
Budd aka Sidewinder's picture

Yup.  The only word in that article the sheeple understand is SEC and that's because they think it's the college football conference

Wed, 10/29/2014 - 09:02 | 5389306 JustObserving
JustObserving's picture

As if the average person matters in a fascist, police state.  93% want GMO labeling and nothing happens though Obama promised in his campaign. Police can liberate you from your cash legally.  NSA spies on you all the time.  IRS can take away your bank accounts.  Obama can legally murder you. 250 million arrests in last 20 years. Fluoridated water completely banned in Israel but everyone being poisoned here.  If you do not know you are a serf in the land of the free, you have not been paying attention for the last 20 years.

Wed, 10/29/2014 - 09:08 | 5389326 LULZBank
LULZBank's picture

Nobody things that deep.

Its only about food and tele or no food and tele.

Wed, 10/29/2014 - 09:30 | 5389389 Notsobadwlad
Notsobadwlad's picture

This is the world of children.

Ancient people might have told us that: "If you can think and understand what is going and not be corrupted by it (big point), then it is possible (although not guaranteed, depending on your choices) to move on."

To paraphrase Pope Francis' recent statement: "Sins can be foregiven by asking for foregiveness. Corruption is a little more serious." Smart guy. I am wondering if the whole "protest being over" and reuniting of the church thing will gain any traction?!? ... more globalism?

Otherwise you must repeat Kindergarten, possibly after taking a cleansing shower.

Funny how those ancient people had access to information sources not found on the "tele".

Wed, 10/29/2014 - 10:03 | 5389490 LULZBank
LULZBank's picture

You spoilt a good post by quoting Pope Francis.

Wed, 10/29/2014 - 09:02 | 5389310 Wait What
Wait What's picture

Wait, What?

That thought crosses my mind more than I'd like to admit...

but I've learned that non-sequiturs go down easily w/ an 18 yr old single malt.

Wed, 10/29/2014 - 09:07 | 5389320 kowalli
kowalli's picture

Who cares? market rigget - no need to read some info about anything - just follow the trend

Wed, 10/29/2014 - 09:09 | 5389332 GetZeeGold
GetZeeGold's picture

 

 

Yeah....freedom and fairness is highly overrated.

Wed, 10/29/2014 - 09:09 | 5389331 NoVa
NoVa's picture

So what exactly is the problem?  

I mean I took ethics when I attended Wharton as well as my trading buddies when they attened their Prep high schools and prestigious private universities.  That's just the way things work - 

 

 

/sarc/

Wed, 10/29/2014 - 09:15 | 5389344 cherry picker
cherry picker's picture

I am sure it will be ugly.  There will be many who fall, governments and citizens.

The story is the same, but much more subtle than in the past for governments have the help of technology, but technology is not the culprit.

It is the brainwashed minds and morals of those who are in control, those that 'lead' and I use the term 'lead' with contempt.

Why?  You may ask.  Isn't life good?  We are 'protected', have social programs and free stuff.  We do not even have to work in fields anymore, they brought us above the menial.

Too much is coming to light, even with the repression of real news by the media.

Every one of us is a peon with no rights, no freedoms.  The home you paid for is not really yours.  The government is 'kind' enough to let you live there as long as you pay usury.

Why are we going cashless?  Why are we now charged by a retailer and some financial institution to spend our money?  Why is it anyone's business if I buy heat lamps?  Does it ever occur to .gov I may not be growing anything illegally?

Why does it cost more than most of us can bear to defend ourselves if we are apprehended or want our seized possessions back in a timely manner of heaven forbid we are charged with a crime we did not commit?

Why am I forced to pay for wars or programs or high wage civil servants I do not agree with?

Why does my government representative ignore me when I call for help?

Why are codified 'rights' and 'freedoms' ignored in this world by those who are elected to see they are upheld?

Why do schools need metal detectors and armed guards?  In my uncivilized youth there was no need for this.

Why is starting business discouraged, focus is all about 'careers', high priced and worthless degrees?

Why can't women stay at home and look after the young?  Why does state tell us how and when to parent?

Why do we put up with all this bullshit?

I am in the November/December of my life.  I do not want my children to be slaves of this system, where cash is scorned, debt and credit ratings are honored and kow tow is name of the game.

 

Wed, 10/29/2014 - 09:24 | 5389385 semperfi
semperfi's picture

The Army/Military is here to protect us.  Will they protect us from...

- the IRS ?

- representatives who strip us of our constitutional rights?

- the FBI raiding our houses and stealing our property ?

- invasions over our southern border, of people infected with ebola and other assorted viruses ?

 

So far the answer is NO....

 

Army/DOD, what ya got to say.... ?

 

Wed, 10/29/2014 - 11:05 | 5389744 Jethro
Jethro's picture

Unfortunately, you are correct.  The Federal government is a far greater threat to the citizens of the us than ISIS, ebola, etc. 

Wed, 10/29/2014 - 11:19 | 5389812 Armed Resistance
Armed Resistance's picture

Great post. It is frustrating to be certain. That is until the point you finally leave the matrix. To the greatest degree I have left the banking system, the political system and the social system as it relates to the illusion. I also decided in 2014 to not file taxes anymore (this by the way is only voluntary if you really research it) to stop supporting the corruption.

I even left my high-paying job and have taken on a simpler life where free time is double what it used to be. I work and volunteer and worry less about the fiat-dominated world. I am peaceful and hopeful for a non-violent solution but I really doubt the PTB will ever consider anything other than all out tyranny and war. My rights are God-given and I follow the constitution. Stack it, rack it and free yourselves.

"Those who make peaceful revolution impossible make violent revolution inevitable." JFK 1961

Wed, 10/29/2014 - 09:16 | 5389350 More_sellers_th...
More_sellers_than_buyers's picture

Well it's all really simple.  They have successfully dumbed down the population so as there is not a jury in the country capable of convicting anyone with half a brain.

Wed, 10/29/2014 - 09:21 | 5389368 GetZeeGold
GetZeeGold's picture

 

 

Just to be sure.....we've invoked Common Core.

Wed, 10/29/2014 - 09:20 | 5389361 csmith
csmith's picture

As a taxpayer, aren't I a "paying subscriber" to SEC services???

Wed, 10/29/2014 - 09:20 | 5389362 ejmoosa
ejmoosa's picture

Criminal.

Heads should roll.

Literally. And often.

Wed, 10/29/2014 - 09:46 | 5389439 p00k1e
p00k1e's picture

We are scammed at every turn.

Here in The D a certain part of I-96 received a major reconstruction. 

The contractor was offered a bonus if the scheduled deadline was met. 

Of course the contractor meets the deadline and bonuses were passed out.  Fast forward to the first weekend after reopening, the very same construction company which received bonuses for a completed job has all east bound entrance/exit ramps closed.   They are finishing the job in the middle of the night on weekends. 

Thanks! 

Wed, 10/29/2014 - 09:21 | 5389374 AdvancingTime
AdvancingTime's picture

Add this to the many reasons to hold Washington in low esteem! 

In an investigation about two years ago 60 Minutes uncovered evidence of several instances of insider trading among prominent government officials. In a hurry then to save our public servants from embarrassment, President Barack Obama jumped on board. "Send me a bill that bans insider trading by members of Congress," the president declared in his 2012 State of the Union address. "I will sign it tomorrow."

The bill sailed through the Senate on a 96-3 vote, passed the House 417-2 and Obama promptly signed it, noting that its disclosure, and accountability requirements would apply to and demand transparency from virtually everyone in government who had access to inside financial information. Now this has been undone, my tip off was a April 27th 2013 Chicago Tribune editorial that reported Congress had voted to repeal part of the STOCK Act that recently became law. More on this subject in the article below.

http://brucewilds.blogspot.com/2013/04/washington-insider-trading-is-bac...

Wed, 10/29/2014 - 09:35 | 5389418 Billy Sol Estes
Billy Sol Estes's picture

What is the old saying about the title of Bills in congress?

Wed, 10/29/2014 - 09:25 | 5389386 p00k1e
p00k1e's picture

“Thank you sir, may I have another!”

Kevin Bacon - Fraternity Paddle

http://www.youtube.com/watch?v=qdFLPn30dvQ

Wed, 10/29/2014 - 09:33 | 5389407 Billy Sol Estes
Billy Sol Estes's picture

Don't forget to vote! Because voting is important... and ....stuff.

Wed, 10/29/2014 - 09:46 | 5389431 justmy2cents
justmy2cents's picture

I met a trader once he told me he stared at the order book of xtrader for hours a day (I forget which market) and he was going to do that for as long as it took until he could learn to scalp - he went broke and mad - no wonder BECAUSE not only is data released early to special parties but im my opinion DIFFERENT PRICES are CIRCULATING AT THE SAME TIME TO DIFFERENT TRADERS AROUND THE WORLD.

This became evident on the May 2010 flash crash

There is no mechanism on the exchanges software to synchonise prices globally so that the price one person sees is not necessarily the same price that others are seeing esp during a crash.

This is the real scandal! Watch Eric Scott Hunsader talk at about 20 mins in

Money & Speed: Inside the Black Box (Marije Meerman, VPRO)
Wed, 10/29/2014 - 09:54 | 5389457 Homey Da Clown
Homey Da Clown's picture

The entire system is corrupt.  I watched the finale of Boardwalk Empire earlier this week.  The system was rigged 100 years ago and has gotten worse.

Wed, 10/29/2014 - 10:00 | 5389483 shovelhead
shovelhead's picture

It really doesn't matter.

Seriously.

When you have one class of people that can literally conjure up money out of thin air, via loans and debt and a Govt. that does the same but puts the repayment of the debt on the taxpayer, why bother with the small crimes between speculators?

Granny's pension fund still gets the fees and who cares if she doesn't get to eat the dogfood she's learned to like. It's dogfood.

Everybodys got to make adjustments these days.

Wed, 10/29/2014 - 10:01 | 5389486 russwinter
russwinter's picture

Us Treasury's Quid Pro Quo Arrangements with Criminal Cabals

http://winteractionables.com/?p=15986

 

Wed, 10/29/2014 - 10:07 | 5389504 Calculus99
Calculus99's picture

'Elite clients' says it all really.

 

Wed, 10/29/2014 - 10:14 | 5389540 Atomizer
Atomizer's picture

Democracy slave wage nigger running off the plantation. 

Hillary 2016 presidential focus.  

Wed, 10/29/2014 - 10:22 | 5389565 glenlloyd
glenlloyd's picture

By the time the muppets actually see this the real trading activity has already been done.

Wed, 10/29/2014 - 10:22 | 5389571 Atomizer
Atomizer's picture

Agroithm market manipulating via Google, Dark pools and new health scares will inflate Wall Street another thousand points. 

Stocks price and earnings are 1939 measured. Good luck QE fucknobs. 

 

 

Wed, 10/29/2014 - 10:29 | 5389594 BouncingCat
BouncingCat's picture

Obscene. I'm sure it's carefully constructed with key words that make it easier for algos to detect. These should be released to all as images that humans can read with fonts and background watermarks that make it difficult for machines to read.

Wed, 10/29/2014 - 10:37 | 5389613 Atomizer
Atomizer's picture

Free SEC Porn and net neutrality policy. Oh boy. Someone is itching to claim busted monetizing advertising and climate change interweb usage. Which Obama Czar is funneling monies again? 

Fuck you, installed Kenyan Negro President that reads from a teleprompter. 

Wed, 10/29/2014 - 10:41 | 5389628 Hamm Jamm
Hamm Jamm's picture

STOP complaining ...   everybody just sits and watch the corruption and the evil !     Nobody is willing to do anything about it but rather pass the buck

wah wah wah

If your tired of the system, and you can't lift your flabby ass off the chair to go and make a difference ...

Just go to the BANK and withdraw all your fiat

 

trust me, if enough people do it ...   they'll get the picture awfully fast and do something about the criminal culture

were all in this boat

 

and now I shall drink the coffee of wisdom and eat the donut of knowledge, for I am old, cranky and full of poo

Wed, 10/29/2014 - 11:23 | 5389826 disgruntled hou...
disgruntled housewife's picture

Old, Cranky, and Full of Poo- I am not sure why anyone is using a bank- especially the TBTF. It took me 5 years of nagging to get my husband to move from Wells Fargo to a credit union. He had been a customer there for nearly 40 years. He went in and closed a checking account, a nice savings account and a couple of CDs that had matured. It wasn't a Buffet sized account but respectable. He was certain they would ask him why or express some sadness that he was leaving after 40 years. Nothing. His feelings were hurt but I felt vindicated. I told him the banks did not give a rat's ass about us but resisted the I told you so.

Wed, 10/29/2014 - 10:43 | 5389634 ThisIsBob
ThisIsBob's picture

US Taxpayers pay for a lot of stuff that benefits only a select few.  Ain't that America?

Wed, 10/29/2014 - 10:55 | 5389689 Jethro
Jethro's picture

Why are there no "Lil' dead banksters for you and me"?

Wed, 10/29/2014 - 10:47 | 5389650 smithlangra
smithlangra's picture

I'm impressed that anybody able to make $7397 in 4 weeks on the computer . this link www.swipebuck.com

Wed, 10/29/2014 - 10:58 | 5389710 Jethro
Jethro's picture

Wait.  Who was it that had an SEC-approved, real-time window to every trade sent to NYSE?  Was it JP Morgan Chase or Goldman Sachs?  This was a few years ago, at the outset of HFT.  They could read the incoming bid, and send multiple bids of their own, before the original bid reached the NYSE terminal.  Anybody remember this?

Wed, 10/29/2014 - 11:17 | 5389800 Fuku Ben
Fuku Ben's picture

I always thought Jackie "America is the most corrupt country in the world.” Chan was exaggerating

Wed, 10/29/2014 - 11:26 | 5389843 The Phallic Crusader
The Phallic Crusader's picture

O/T but CNN is doing a story about "suspicious cyber acitivity" at White House - already tracked to Russia!  Indeed to the Kremlin!

per Clark Kent Ervin... 

Because Russia would be sure to launch a cyber attack right from the Kremlin, and even leave bread crumbs to help the NSA track down the bad guys.

CNN - when you want your neocon propaganda thick, long, and hard...

Wed, 10/29/2014 - 13:50 | 5390596 bugs_
bugs_'s picture

End the Fed, end the CDC, end Doctors Without Concern, and end the SEC.  Reform is obviously impossible.

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