Video & Multimedia
Related: About this forumThe Wall Street Code - How Wall Street Rips Off Main Street - The Algorithm Developers
we can do it
(12,169 posts)cantbeserious
(13,039 posts)eom
gopiscrap
(23,726 posts)MrMickeysMom
(20,453 posts)These guys are criminals, when you think about it. But, the SEC is useless in keeping it in check.
Max Keiser has been talking about this stuff on his shows for years, and now he seems just a little less crazy
we can do it
(12,169 posts)Astrad
(466 posts)excellent!
cantbeserious
(13,039 posts)eom
Snake Plissken
(4,103 posts)And this is Mitt Romney's idea of building an economy ... extracting wealth instead of creating it.
Build an economy by extracting wealth from the economy you are trying to build ... and then have taxpayers bail it out when there is nothing let to extract.
pam4water
(2,916 posts)snappyturtle
(14,656 posts)jakeXT
(10,575 posts)benld74
(9,901 posts)benld74
(9,901 posts)chervilant
(8,267 posts)"Certain traders had found a way to have their orders jump the queue."
It is ESSENTIAL that we stop this systematic theft.
grahamhgreen
(15,741 posts)cantbeserious
(13,039 posts)eom
chervilant
(8,267 posts)I've FINALLY gotten to watch this entire video. It is chilling. When Haim Bodek--who comes across as an earnest, brilliant, and utterly guileless mental giant--describes the typical Wall Street traders (with their sense of entitlement, their need for 'power over,' and their singular focus on amassing obscene wealth) and the rigidly hierarchical framework within which they jockey for primacy; one realizes that the fate of humanity isn't even relevant to their world view.
Perhaps people will listen to Mr. Bodek. Perhaps he won't be silenced by powerful players like Alan Greenspan, Larry Summers and Henry Paulson, all of whom worked hard to quash Brooksley Born, the brave woman who strove to warn about the dangers of the unregulated derivatives market.
Unregulated banks represent the worst of our species' hubris. They must be stopped.
cantbeserious
(13,039 posts)eom
chervilant
(8,267 posts)I had only seen clips before, having depended on print media for my research.
I am appalled that Obama has Geithner and Summers on his staff. I wonder if this is a furtherance of the tail wagging the dog...