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No, ITG, Zero Hedge Would Prefer To Not Regulate You Either
While reading Advanced Trading today we stumbled across the following curious excerpt:
Advanced Trading: You mentioned regulators and politicians are ignorant ...
[ITG's Jamie] Selway: I would say that their knowledge is incomplete.
Advanced Trading: Is this causing HFT to be scape-goated?
[ITG'S Jamie] Selway: Yes, there's a mixture of that. I am fond of saying I am not a huge regulations guy but I am a fan of regulations at an appropriate level that boosts confidence. I for one would prefer to be regulated by the SEC and not by ZeroHedge. So we have a team of experts and multiple agencies that are expert in regulations and know the markets and have the resources.
And here we were thinking that after three years of reading us, at least the supposedly more sophisticated market elements would have moved beyond merely pedestrian stereotypes. Alas, as always happens when we assume anything other than sheer stupidity, we end up 100% wrong.
Here's the deal Jamie: Zero Hedge, knowing full well we are quite mortal, and as like everyone else - very susceptible to temptation - realize we too 'have our price', would have no interest in finding out just what said "price" may be, by succumbing to bribery or any other form of corruption by you and/or your HFT peers and competitors. Nor do we have an interest in pretending to "regulate" you for several years, then submitting our resumes to you, tired of five figure government jobs, and expecting some quid pro quo in exchange for all those years when we saw the HFT 'lobby' engage in gross market manipulation, and demanding some form of equitable recompense, preferably in a far better paying job (for example moving from the NASD to Goldman Sachs... in a purely hypothetical scenario of course) but really anything with a lot of the zeros (that we enabled) at the end of it, would do.
We have no interest in that.
We realize that makes us different than the SEC. Because frankly, just like you, we also realize that the first entity to be purchased in any regulated venue, is none other than the regulator. Which in the absence of the SEC, we assume would be us.
We have no interest in that either.
But more importantly, we would not even dream of regulating you, or anyone else for that matter, because frankly, unlike the collapsing and insolvent status quo, we believe in the myth of a fair market, one where a room full of academics does not believe it is smarter than the collective rational whole of countless unitary market actors.
We believe in a market that regulates itself.
That means that the banks can go hog wild in loading up on CDOs, selling CDS, leveraging themselves 1000x times, and whatever else they feel like doing in pursuit of that ever more elusive ROE, but when they blow up, as they always inevitably do in a world in which they know that the politicians and regulators they have purchased have no alternative but to rescue them, they blow up. Period. Game over: not a penny in taxpayer money would ever be used to rescue them.
That means abolishing the Fed, firing the 10 academics that determine the fate of the world on a daily basis, and letting the market itself determine the true cost of money. Of course, that also would mean scrapping generations of Ivy League-taught economists as their art, pardon science, is exposed to be the flawed and erroneous travesty that has led the world to a precipice, whose outcome could easily be global war next. Just like that last time.
But that is irrelevant to you.
What is relevant, is that we would most certainly let you and your "market-making, liquidity providing" colleagues run amok in the market, sub-pennying each other, stub quoting endlessly, churning and quote stuffing to the point where you and all your HFT peers drive the last remaining real investor out of the market, in the process sending volatility to record proportions and terminally breaking what's left of the a stock market. At that point the real cannibalization can begin, which is the only way that the market can eradicate itself of the scourge that is HFT - because what would happen then is the perfectly normal and long overdue reversion to the mean, long pushed away from its equilibrium point courtesy of endless artificial intervention propping up parasitic trading, or, said otherwise, your quarterly EPS bottom line, which of course, is all your care about.
Incidentally we have seen what happens when HFT is not regulated, such as ever since the adoption of Reg NMS: first an algorithmic take over of all trading, then a flash crash, then hundreds of billions in retail capital outflows as the retail investors figure out what a sham (and scam) the marketplace truly is, and finally the collapse in volume, which as you well know Jamie, is the death knell for you and your peers.
What is most ironic in all of this, is that the second before you pull the plug on your algos for the last time, as the hollow market collapses under its own weight, you will wish that Zero Hedge had been regulating you...
It will be too late.
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Awesome
Bahahahah.
Zerohedge. Working as intended.
The closest i've seen to a manifesto by Tyler. FUCKING AWESOME.
P.S. Please add an Orson Welles Citizen Kane clap here.
Best damn ZH editorial yet. Genius.
YOU !!!!!! CANNOT !!! BUY !!! A !!! B !!! C !!! MEDIA !!! LTD !!!!!
Brilliant Tyler. Can you explain it with apples to the SEC pleeeez
I think hand puppets and a yukalalee (sp?) would suffice. This really is just one big Greek Tragedy.
Funny thing about Greek Tragedy...the stories are told in one continual stream of time-that is hours or days in the story rarely pass...even people from afar show up on que as if called to appear as it unfolded in real time.
Cue ZH.
Oh, and thank you.
Apparently "Doing God's work" has no regs attached by The Big Man. It's almost like these guys have a heavenly carte blanche.
He broke the first rule...
Whoa, whoa, whoa, Jamie's cryin'.
It's posts like these that will make me miss zerohedge when the governments enact martial law on the internet and shut down websites that expose the truth. Maybe it's time we develop a peer to peer truth distribution method?
NOT HAPPENING.. You underestimate the readerships abilities. The endless propaganda has softened your brain. Snap the fuck out of it. When the time comes and assistance is needed, it will be there, rest assured.
this randian crap is all very well and nice but markets don't regulate themselves.
What we are seeing now IS how markets self-regulate. Powerful actors act to exclude competition and hoard capability. It's really an evolutionary mandate.
There NEVER WAS a free and orderly market. I have no clue where Tyler or any of the rest of these people...maybe this springs from their collective disillusionment at how utterly bullshit it all was...no clue where they come up with this fantasy that things were ever going the right way.
No sooner was this country founded than people tried to subvert it. Only people acting with effectively religious zeal had the steadfastness to resist the corruption. The times when there were "principles," were the times when people held thoughts that you morons collectively view as tantamount to naziism.
That was good...
...
Right, regulators are supposed to, hows that been working out?
enjforcing just 1/2 the laws we have on the books would create a fair market, hows that lack of consequence been working out?
Passing out a few well deserved indictments would go a long way towards a "regulated market"
Want a regulated market? get rid of the regulators....
To refer to markets in which liqudity is created through an outright fraud called fractional reserve banking, the unit of measure decays exponentially due to the same fraud and in which daily price action and secular trends are determined entirely through the utterances and whims of central planners "self regulating", is truly absurd.
So while you criticize an imaginary self regulating utopia, I would only advocate the rule of law making an appearance in financial markets. A good place to start would be non-captive grand juries, as originally codified/intended.
Now if your argument was actually that the market self regulating manifests itself in legislators falling under control of market participants then, this would seem to be a strong case for further decentralization no?
That song was so ripped off.
Zero Hedge, FUCK YEAH. Coming again to save the motherfucking day, YEAH.
God forbid the HFT crowd should have real people see them naked and call them ugly.
Amen.
Max Keiser totally nailed what to do in this recent diatribe:
http://www.youtube.com/watch?feature=player_detailpage&list=UUBIwq18tUFr...
That was friggin' epic. +1 quadrillion.
Jamie Selway was personally sent a copy of this response to ITG, courtesy of Yours Truly. Just trying to spread the joy!!!
Thanks, ZH, for all you do.
god bless and protect tyler, max, dr.michael hudson and bill black !!!
Max is the real mayor of Paree. E P I C !
Most ironic is that the ZH assertion is fundamentally that which under-pins all market theory: That a market can exist. Market transactions fundamentally exist merely because of public information and public commentary, which is all that ZH does, and all that ZH represents.
ZH is commentary based on public information. That is how markets work (unless you are a Congressman, Regulator, or Favored Buffet). The "theory" is that regulators enforce the "integrity" of the information imbalance, such that markets can actually function (e.g., that trades can take place). If information imbalance is too great, all trade is halted, because no bid can be accepted (because the "buyer" would "know" he was being "taken" based on the greater-information-available to the "seller").
However, in "reality", we have the opposite: The "regulators" (and government/oligarchies) conspire to fleece-and-defraud all would-be market participants. That is why these would-be market participants are leaving, and will *never* return. Ever. Not only do we lose the Boomers (leaving their careers and dying), but the entire working class generation is lost: They see the fraud, and they will not return. Ever. And, they are not wrong for that conclusion.
The SEC won't understand, because they are paid not to. However, the central claim is something like, "The SEC is granted a place of authority, with the purported purpose of defending the Public Trust, over which they preside with incompetence, for the sole purpose of selling their position to the highest bidder, in violation of that Public which granted their authority."
The closing is most ironic, and humorous, because it is so very true:
The system is collapsing now due to a mess of the regulators' own making.
Succinct and very well said.
The belief in the potential existence of a market seems Platonic. The realist vs. the nominalist.
Plato believed that the world should be ruled by philosopher kings. What we are talking about is the opposite of that.
Plato also believed we had a predestine role in society.
I think he was a mormon too but I might have that wrong.
Forgot the </sarc> maybe?
I think that increasingly it is the role of our government not to legislate or regulate or even so much as make policy as it is to manage the public perception for the good of the public - Joe six pack if you will.
I expect the sec is staffed with our brightest kids working hard to protect thier own assets and hence the status quo.
Its going down, but it won't be pleasant I think.
I logged in just to +1 you.
The problems with that exist in a fair and free market (incorrect or insufficient information, rational irrationality, etc) can be minimized and hedged in a FAIR and FREE market. We currently have neither, and haven't for quite some time.
ITG is going the way of the dinosaurs, at any rate.
They're already a vestigial organ; road kill, if you will.
The irony is that it's precisely the complete and utter incompetency of the SEC or any other agency in preventing 'the equity markets' from being completely and totally rigged, thus leading to the ever increasing loss of confidence in anything remotely resembling a fair, free investment environment, that has signed ITG's death certificate.
Great job, midget/donkey porn surfers at the SEC. It's not as if individuals presented concrete evidence of such things as the 50 billion dollar Madoff Ponzi to you nearly a decade ago, and you did nothing to stop said Ponzi, as just one example of your proving that Wall Street and the 'equity markets' is the biggest criminal racket ever to have been devised, because your level of ineptitude is beyond imagination.
Good luck with your revenue model going forward, ITG.
Rock 'em Tyler! Kick ass, take names. Love it.
Agreed.
Tyler for president, bitchez!
ZereHedge is not whorish enough to lead the ship of shitheads, nor foolish enough to attemp the futile endeavor.
Correct.
in "finding our price" ZH shows a clear understanding no authority can be trusted, not even ZH itself.
the Free Market works because, like nature (indeed all life), it has no central authority ...as all such points can be corrupted or simply collapse due to circumstance (change: the only constant)
I'm not implying that you personally don't get it, because I'm sure you do, but when you talk about the free market it's always important to point out for the kids at home that nobody thinks what we have, or a mere removal of regulation from the status quo would be able to be called a "Free Market."
"I for one would prefer to be regulated by the SEC"
Hahahaa.
If only no fault divorce worked under SEC rules....
Schapiro is almost as criminally complicit
http://dealbook.nytimes.com/2012/02/22/s-e-c-chairwoman-defends-settleme...
As Holder
http://dealbook.nytimes.com/2012/02/23/holder-defends-efforts-to-combat-...
In their dreams to be managed by that bunch of deliberate bumblers.
Damn Tyler, that is exactly what I was about to say.
Powerful shit.... A man with this grasp can overcome the hypocracy, no doubt- it's the only solution for the status quo...
Never seen so many green arrows.
Talk about hitting the corrupt nail on the head.
It would be hysterical to see the response...........
Crickets
Well we are due for another flash crash.
DAAAAAAAAMN.
Hey lead, how did you get your animated avatar to work? Mine only displays as a stationary image?
http://lmgtfy.com/?q=animated+gif+creator
slow clap
...To standing ovation.
Had a friend do this in one of his dental classes, the teacher showed up late and my buddy started the slow clap when he arrived, then went into the standing ovation. The entire class got into it. The teacher said after it stopped, that was the best damn entrance I have ever had, everyone can go home!
I'm with the Tylers on this one. And Jamie is truly one of the bitches, not bitchez.
To bad ZH wasn't started around the time of the tech bubble diaster. Perhaps trillions of blown up wealth could have been saved just by informing the sheep about just WTF is going on within the financial world. Instead, we got chump sites like Motley Fool and Raging Bull and other electronic abortion sites. Perhaps this whole nightmare facing the world could have been, if not prevented, perhaps blunted.
I'm gonna go buy me a ZH shirt in appreciation for all the work being done here. Keep it up, your saving at least some people from total financial destruction, and that deserves reward.
Amen.
Excellent work ZH! You are making an impact. It's like rats and roaches, you have to shine a bright light and chase them around or they will just continue to multiply
Exactly! That one little comment speaks volumes about how they feel about that sword of truth called Zero Hedge.
I prefer to refer to it as The Enema of Truth
...the Jalapeño and LSD Enema of Truth.
Dont answer that knock at the Door Tyler.
It's the gevernment and their here to help.
Malathion works too...
Wow, beautiful Zero Hedge. Nothing more needs to be said.
In other words, suck it bitchez.
Suck it up, bitchez...
this is a much better way to say it.
The SEC might be semicompetent to regulate online pornography, because of their vast experience--on 2d thought, not even that.
Brilliant. ^slow clap
Poetry
Ron White with his famous "FUCK YOU" in a debate.
http://www.youtube.com/watch?v=ZkXsrz_Qrl8
Excellent retort, but probably way over the parasites' heads.
regulations, are not meant to boost confidence, but to police corruption.
Regulations are chains you wrap others in while your well connected ass violates them all with imputiny and extreme profitability.
Regulations without enforcement for all, are merely a monopoly with the illusion of a free market for the suckers to keep the stupid money flowing.
Internet kill switch to regulate ZH in 3... 2... 1...
there is no internet kill switch.
if there were, here are the switches which would be thrown shortly after;
the nice to cops kill switch
the functional parking meter kill switch
the IRS communications infrastructure kill switch
the government department radio antenna stability kill switch (which prevents concrete saws with metal cutting blades from destabilising antennae moment to moment)
the television broadcasting station kill switch
the stable electric grid kill switch (resembles boat chains launched by home made rockets over high voltage transmission lines shorting them to earth, in various critical sections of the grid, simultaneously)
blah blah blah
and the no shooting or launching shoulder fired rockets at important people in black cars kill switch.
repeat after me
"there is no internet kill switch"
...........and the reality is the SEC used to give investors the false sense of security that there was actually a policeman on the beat.
the Police are crones of the State (ie. politicians)
as part of the most incompetent (and corrupt) organisation ever fabricated, Govt, we can't expect Regulators or Police to 'surprise' to the upside
Zero gov, I love the way you think. All your posts. If I was smarter and an insomniac, I would wonder if I was writing your posts in my sleep.
Keep it up
Take that Jamie, you bitch.
LMAO People who live in glass houses...................
Awesome! Jamie should have been caught on tape, like these fine folks:
http://www.youtube.com/watch?v=BqzgcNQHxEg&feature=related
With much respect, Thanks ZH.
I think you cut him good TD, right below the eye, Jamie is tapping out.
"Regulators
we regulate any stealing of his property
and we damn good too
But you can't be any geek off the street,
gotta be handy with the Algos if you know what I mean, earn your keep!
REGULATORS!!! MOUNT UP!
ECRI Sticks to Recession Call
“When you look at the definitive hard data that is used to officially date business cycle recessions, it has been getting worse not better despite what the consensus view of an improving economy has been.”
Coincident Indicators:
1. GDP growth, year over yet peaked in early 2010 and falls down to 1.5% by Q2 of 2011 and has flat lined essentially since then.
2. Personal income growth down
3. Sales growth down
4. Industrial production growth year over year down, and as of January it is at a 22-month low
“You put all this — you put it into a coincident index of the U.S. economy and if you look at year-over-year growth of that index, it’s now at a 21-month low…”
“You haven’t had a decline like that in the past 50 years without recession following in short order.”
http://video.cnbc.com/gallery/?video=3000075118
Well, this time is different isn't it? Er, maybe not...
Throw in the Ceridian Index and you discover trucks are not hauling nearly as much stuff.
Hell yes!
Tyler,
Congratulations! The pre-scapegoating process is already underway. Zerohedge has advanced to the point where the next flash crash will be laid at its door due to overclose scrutiny of what was always supposed to be hidden.
Perhaps it is time to order new T-Shirts with "Zerohedge: Flash Crashing the corruptocracy since 2009!"
barliman
And Tyler, looks like it's time to start tweeting again. Flap flap flap goes the beautiful butterfly...
http://www.youtube.com/watch?v=x9Huy-JP1xo&feature=youtu.be
I thought institutional investors supplied the bulk of volume in the market, and that market volume is still in an uptrend? If true, then wouldn't the departure of retail investors not really impact volume?
the pertinent phrase being "if true"
without this predicate it becomes unknowable.
Just blame the collapse in trading volume on dark pools. That's it, yeah, dark pools.
Pay no attention to the fund outflows, the guaranteed monthly liquidity fix that every moron used to trade into at the start of each month.
Fucking parasites.
All categories combined, institutional investors are the ultimate suckers. By design, they are devoid of the ability to EVER learn from past mistakes or avoid a certain loss. Retail investors are suckets too but they retain the freedom to say "fuck it" and pull out of the market, something the biggest fools are unable to do.
In a ponzicracy, you can't just cound on your loyal suckers.
And who are the institutional investors again?
pwned.
Jamie you cry faced pussy. Watch the world default to reality.
DtR
+1 for "cry faced pussy" LMAO
So, regulations are intended to "boost confidence (TM)???" Funny, I thought they were intended to keep corrupt and otherwise overly greedy bastards from stealing money from everyone else.
Jamie meets the hard, unforgiving wall called objective circumstances.
http://www.youtube.com/watch?v=hZPECFQ4NhE&feature=fvst
Objective circumstances, whatever.
I call it reality. People in general have a viewpoint. They are not idiots. And eventually, this shit will come to light, whether it's through ZeroHedge or another source. And when people finally wake up and realize that they're being taken for fools, there will be a war. People will fight for their right to keep what's theirs, what rightfully belongs to them and their children. When that day comes, it will be bloody. I only hope that I'm not here to witness it. I only hope that peoples' ignorance holds out for another 50-60 years or so because I don't want to be around when people finally realize that they're being raped.
You want to be gang raped for another six decades because you don't want to be inconvenienced by any effort to combat the rapists?
Wow.
I'm not being gang raped. Most of the people around me are. And no, I don't want to bear witness to the death and destruction that is sure to follow an awakening. It is going to be massively destructive. It is going to be full of death and misery. I have no children, so I have no interest in this future. I never wanted to bring a child into this forsaken world, and I still do not wish to. The only possible outcome for the US is debt destruction. I cannot see any other way absent a massive war. And if we were to have a massive war, my hypothetical child would be forced to kill. I will not arbitrarily choose that path for another human being.
I would rather die a barren, childless father.
Oh, so you just want to see your neighbors get raped for 60 years so that you're not inconvenienced. I guess that's all right.
Sounds to me like you are already half-dead. A man with no spirit to fight for what he believes in is already standing with one foot in the grave.
"I will not arbitrarily choose that path for another human being"
By wishing that it will happen after you're gone, to someone else, by kicking the can just like everyone else and passing it to future generations, you ARE choosing that path for other human beings.
" We make him one of ourselves before we kill him. It is intolerable to us that an erroneous thought should exist anywhere in the world, however secret and powerless it may be. Even in the instant of death we cannot permit any deviation. In the old days the heretic walked to the stake still a heretic, proclaiming his heresy, exulting in it. Even the victim of the Russian purges could carry rebellion locked up in his skull as he walked down the passage waiting for the bullet. But we make the brain perfect before we blow it out." -1984 (orwell)
There are worse things than war and destruction. The slow death of the individual spirit is far worse. And it happens because people fear stepping out, they fear witnessing something destructive. So they choose to do nothing and instead are themselves destroyed. Completely, but from the inside first. Its like rotting to death. Not me. I'd prefer not to give up, not to just hope that someday the rest of humanity "figures it out".
I for one would prefer to be regulated by the SEC and not by ZeroHedge.
"And no, I don't want to bear witness to the death and destruction that is sure to follow an awakening."
You sound like the nice quiet old guy whose living next door to the big mean pedophile. Your afraid to do anything, including just picking up the phone, even though your hearing the tortured screams of his victims, you just turn up the T.V. and blame it on the cats fighting in the street. Whatever makes your conscience feel better.
It's rare for me to see a simple comment and wish that the commentor never breeds, but in your case, I actually breathed a sigh of relief.
Some of us Fathers who care about our kids, we take the time to educate them, and their friends when given the chance, about the dangers of TPTB so when the real raping and pillaging occurs, their prepared and when it stops, their ready to step up and lead like the real men we call forefathers (in my case it's a daughter that obviously has bigger balls than you). They had it pretty rough too. Never heard of them refusing to have children when King George was running them into the ground.
And wars only exist when weak resolved idiots enlist to blindly follow the path of those who could never lead from the front. Raise a kid right, the only time they will ever kill is in self defense, which in any age was considered true wisdom in a person. War mongers and murderers be damned, and you too.
navy62802 said:
Oh boo hoo. Everyone else is getting ass raped, but you don't want it to end because witnessing the imposition of justice by the Stark Fist of Reality® might hurt your feelings? What a fucking pansy ass.
Good choice. No child deserves a father that would let them be sold off into bondage rather than take a stand for what is right.
You're not very imaginative. If it comes down to open revolt, please just stay out of the way.
Only if his spineless daddy taught him to obey authority without question.
You are already choosing that path for others by hoping that the status quo is maintained. You choose to ignore the consequences of your choice because they are not happening in your back yard.
So go die, then. What you're doing now isn't living, it's just existing. You're too afraid to live.
Jeez, go easy on the guy, he just doesn't want to live through WW3. Everybody's such a cowboy revolutionary on their keyboard.
Reality eh?
You are one weak, sick, pathetic excuse of a human. A situation that is getting progressively worse and yet you wish this mayhem to continue ass fucking most all of world society for decades, yourself included POS MF'er just so you can avoid the pain of resolution. The process you espouse is the operative condition in place currently. Sure you don't work at a HFT, FRB, TBTF bank, economic think tank or congressional shop?
> ... I don't want to be around when people finally realize that they're being raped.
Talk about a cry faced pussy... feh. Kill yourself.
I totally understand navy62802--my mother feels the same way. And by the way all you pile oners of navy 62802, navy 62802 needs your protection, not your hate- please back off, be kind and take care and protect--not everyone is meant to be a warrior!!!
Remember the battle of Thermapalye, not everyone fought--as legend goes it was Leonithes and his 300--be kind and be good, and don't destroy everything along your path--destruction of everything does not make you a great warrior, gentle compassion as needed and great courage does!!!
not my intent to attack Navy62802, so much as to point out that avoidance is simply a form of defeat.
Things do not have to be bloody and destructive. But if he gets his way and this goes another 50 years, they probably will be. Right now, while people still have some amount of individual thought left, is the time to try to change things, not to give up and just hope that someday someone steps up. And it can be done peacefully. With words. But it has to be done. Not avoided.
So Good
LOL, too funny to even begin commenting on.
Oh hell.. here you go
[ITG] If we cannot get our hands around this internet information flow, we will become extinct.
[Advanced Trading] Don't worry, we're planting new media stories & have friends who will hack new US government sites. We intend to create rogue security threats and pass the new Internet legislation to circumvent loose information.
So fucking true, they want Tyler back in the bag. Or as Steve Martin would say, 'Edwina, Back In Bowl!'
False flag in 3... 2... 1...
Thanks ZH,excellent reply.
However may prove to be pearls before swine.
Don't worry. We'll get the pearls back when we slaughter the swine.
Suck it HFT!
Aretha Franklin - Respect [1967] (Original version)
http://www.youtube.com/watch?v=6FOUqQt3Kg0 (2:30)
Truth is good.
Preserving it is an old, forgotten art, pursuing it again is the new game -- watch out, because...
Nice job, TD's, and all who aspire to such a thing.
Does anyone remember Truth?
MY DICK
That is one uber rant. Love it.
With the way the market is at the moment, low to neg volume, marked up selling (Algo's), top ranges gaming (Dow 13000 charade) and mini flash crashes happening everyday. We are 100% due for a major flash crash.
...probably due very soon
Oh dear, does this this mean we're going to all meet some where in a reeducation camp?
Nice.
They're called FEMA camps now.
Yes.
With Jamie trailing in umteen brownie points.
Got to admit tho; he will likely wake up a lot of retail traders...
"does this this mean we're going to all meet some where in a reeducation camp?"
God help the guards who get a group of ZHers to watch over....they'll find themselves getting the reeducation.
If i was a kleptocrat, on the take, i too would prefer to be regulated by the ignorant political class, who can be bought and sold with a phone call.
Being regulated by ZeroHedge should piss them off.
The SEC absolutely boosts the confidence of those who enjoy the appearence of justice being done. For those who actually WANT justice to be done there is ZEROHEDGE.
Tell it preacher woman, tell it.
Justice being done? Not by the DO(in)J. Not one arrest, let alone a prosectution, over any of this crap since 2008.
Rougue traders don't count.
Just more blah, blah, blah. Bread and circuses, bitchez.
Oh dear, the Empire is falling.
Can't hide scare.
Nice.
Of course he prefers to be regulated by the SEC. They are idiots who watch porn all day and can't be fired like union workers. The SEC is responsible before anyone else for the destruction of the economy. In two words - "excess leverage" was allowed by them.
"....but I am a fan of regulations at an appropriate level that boosts confidence."
Translation...."...but I am a fan of socialist neo classical economics that boosts control of social deviance......"
Selway knows the SEC is in the bag, bought and paid for.
Excellent response TD.... shy as a butterfly.
Jamie Selway, ITG: "...I don't want to be regulated by ZeroHedge!"
Neil Parick Harris, Starship Troopers: "He's a smartbug! ...and he's scared!"
Well said Tyler!
Regulators? If you can't win by the rules, change the rules.
Busted his ass ------ man-o-man!!!!!!!!!!!!!!!!!!!!
Double Rainbow.
Oh my God! What does it mean?
I'll stop short of calling this your 'Magnum Opus' because I believe that piece is yet to come and say:
Tour de force.
Since the Tylers have more class, please let me dispense with some crass...Eat Shit & Die Jamie! Piss Off! Now I feel better...Thank You.
Donate, bitchez.
Don't you just hate whiners?
but, but, what about all that blow and hookers?
Word.
bravo