The South Rises Up to Take on Wall Street and High Frequency Trading

[dixiegrrrrl]

This is from an article a couple weeks back, which got little attention.

Southern states are mad as hell and aren’t going to take it any more. After more than five years of watching their cities and towns suffer foreclosure and mortgage abuse from the biggest firms on Wall Street, rigged Libor swaps impoverishing local governments, and massive stock losses to municipal workers’ pensions, the South is rising up and suing Wall Street over its latest fleecing scheme – high frequency trading.

Snip.......one of the key Southern lawyers involved is Michael Lewis. That’s not bestselling author Michael Lewis; that’s Big Tobacco Cartel suing and winning lawyer Michael Lewis who mightily assisted in bringing the tobacco cartel out of the shadows and changed the health of a Nation forever.

Even more problematic for Wall Street and its hideously shrewd lawyers is that one of the smartest programming brains in U.S. markets, Eric Hunsader, is cooperating with the Southern lawyers.

Why is Hunsader who runs a successful data business involving himself in what is likely to be the biggest legal free-for-all of the century? Andrew Smith of the Guardian shares this with us:
“When Hunsader’s finance friends pointed out that nobody was driving busloads of children over cliffs, he would grab their wallet and remove a $20 bill, then hand the wallet back. ‘Does anyone in the world really care what just happened there?’ he would ask.
‘It makes no difference to anyone but you, and even then not much. It’s just that in a civilised society, we don’t tolerate that. Civilisation breaks down when people don’t follow the rules, because nobody can trust anybody else.’ ”

http://wallstreetonparade.com/2014/06/the-south-rises-up-to-take-on-wall-street-and-high-frequency-trading/

[msongs]

1. our corporate dems leadership are going to miss this boat. time for local dems to get active nt

[Uncle Joe]

2. Kicked and recommended.

Thanks for the thread, dixiegrrrrl.

[dixiegrrrrl]

3. I was tickled pink to see this.

That lawyer is NOT to be taken lightly.

Perhaps a shift in the tides for us.

[Uncle Joe]

4. I agree.

[Jefferson23]

5. Kick their greedy damn ass. I am thrilled to read this. K&R

This OP should be cross posted all over DU.

[beerandjesus]

6. Wish I could req this 100 times!

Thanks for posting!