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Tam Hoang
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Eva Knott
Thomas Larson
Ken Leighton
Matthew Lickona
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Bill Manson
Scott Marks
Bob McPhail
Walter Mencken
Joseph O'Brien
Sheila Pell
Ian Pike
Matt Potter
H.G. Reza
Dave Rice
Elizabeth Salaam
Jay Allen Sanford
Julie Stalmer
DJ Stevens
Matthew Suárez
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David Dodd
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San Diego unions push transaction tax
Yeah, I agree. And the point is, that using a firm (or investing in the software yourself) to utilize flash trading is not a limitation to only certain investors, anyone can go to a firm that offers it. The point is that most don't, and that isn't because they have some social conscience about inadvertently fronting someone (or even purposefully doing that), it's because, as you point out, there's no guarantee of a profit and it could wind up as a loss. Depends on the investor's strategy as to whether it's worth it. In other words, if flash trading was a slam dunk, almost everyone would be doing it, and certainly most firms that offer HFT would also offer flash trading and that simply isn't the case.
— September 26, 2011 3:05 p.m.
San Diego unions push transaction tax
Both you and Don are presuming that HFT and Flash Trading are one in the same. HFT does not present an opportunity to front other investors. Flash trading does. Currently, there are very few firms that offer flash trading. The benefit to liquidity in the market is stability in the market. Traders that utilize HFT technologies make so many trades in a single day - and I mean buying, selling, re-buying, re-selling that could all happen within seconds - that many analysts believe the liquidity actually controls the risk of volatility. And if you think about that on a broad, dynamic scale, where trades are being made at volumes where the slightest movement triggers a counter-movement, it makes perfect sense.
— September 26, 2011 1:34 p.m.
San Diego unions push transaction tax
She worked for the Wall Street office of Cadwalader, Wickersham & Taft while obtaining her Juris Doctor. They lost their ass a few years ago in mortgage-backed securities.
— September 26, 2011 11:45 a.m.
Is He a Citizen?
Excuse me, Mr. Gilchist, but you and your henchman are about 15 years too late to the party. I don't care who is or isn't a racist, there is no separation of hatred from any of the groups. A bunch of Veterans missing their days in the service got together and cooked up a scheme so swell that I'm sure you all have yourselves convinced that millions of illegals are massing into the U.S. every week. Sorry to disappoint you and the politicians that have obviously duped 40% or more of the American people into believing that illegals entering the country is some big enormous problem, but the very small amount of illegals that enter the country pales in comparison with the problem that the U.S. now has, which is what to do about the many millions of Mexicans and people of other nationalities that have been living and working in the U.S. for 20 years or more. So why don't you and all of the other Rambo types put away your guns, break camp, get together back in the city, and figure out a solution to THAT issue. And you'll have to do it without violating their human rights, an issue that Arizona obviously doesn't yet understand. And you'll have to do it knowing that until the U.S. Constitution is changed, that all of their babies and children that were born in the U.S. are U.S. citizens, so deporting their parents might not be in the best interest of the U.S. since having a bunch of babies and children being taken care of by the State doesn't sound like a good idea. And you can start first by understanding that the U.S. brought this on themselves. I've lived in Mexico, right here on the border, for almost 20 years. When I first came here - crossing the border every day through various ports of entries - literally thousands of illegals simply ran through the border every day in packs of a couple of hundred at a time. Sometimes the single border guard that chased the pack managed to apprehend one. Before I came to live here, I hear it was much worse. That never happens now. I could go back to research I've done, historically, concerning how the State of California actually encouraged Mexicans - regardless of status, paperwork, citizenship - to cross any way they could and work the fields in Central California, as late as the 1960's. But I won't bother, I'm sure that all of this has been pointed out to you before. The problem started then and there. The point is, your organizations will never have any effect on the politics of trying to get the government to keep a few dozen Mexicans a week from entering the U.S. illegally through the desert. Because what you are doing is a silly and veiled attempt at pretending you are back in the service and somehow serving your country. You aren't, you are simply making yourselves more irrelevant in the eyes of anyone that would take up a cause that you are pretending to promote.
— September 26, 2011 5:41 a.m.
San Diego unions push transaction tax
She worked for the same Wall Street some years back that she is supposedly railing against now. Regardless of her message, she's a politician, and the motives of politicians are crystal clear. They want to be elected and re-elected. nothing else matters.
— September 25, 2011 1:02 a.m.
San Diego unions push transaction tax
I agree, minimally, this. But if anyone really wants to straighten out Wall Street, simply undock that capsule entirely from the government, and abolish the SEC. After that, dismantle the Fed, it isn't necessary. Once you've unplugged the government from affecting the markets and the economy in general, all of those Economists can concentrate on doing something useful and contributing to society in ways that are both helpful and potentially profitable. Like making donuts or manufacturing fishing rods and reels.
— September 24, 2011 10:11 p.m.
San Diego unions push transaction tax
If Wall Street wasn't connected to Government in any way - I mean a complete separation - then there wouldn't BE any lobbyists, nor any bailing out, ipso facto, less highly speculative (or downright sketchy if you will) trading. It would be caveat emptor. There are other places and ways to invest where the investment is safe. The return isn't so swell. People are outraged at Wall Street. They should be outraged at government. They should be outraged at the SEC. More regulation isn't going to change a thing, because government is corrupt. Traders will use any advantage they can to make a profit. There is already plenty of regulation in place to try and limit that advantage, and current regulation isn't even being enforced. How is MORE regulation going to help? You can think that Elizabeth Warren is a lovely human being. She is a democrat running for U.S. Senate. She wants your vote. She wants the votes of 51% of the voting public. She will say whatever it takes to get that 51%. She is running against a Republican, and obviously attempting to divide and conquer in the liberal State of Massachusetts. Caveat emptor.
— September 24, 2011 8:09 p.m.
San Diego unions push transaction tax
Okay, not everyone has access to HFT. But to me, that's a lot like playing blackjack and having the ability to count cards. Some people have that ability and some don't. Following your logic, card counting should therefore be illegal playing blackjack. The reason that it's illegal isn't because some people don't have the ability to count cards, it's because the casinos have a disadvantage, and they control the game. My point - why I agree with Jeff - is that there is this notion that the markets should be a level playing field, and oh the outrage that it isn't! But the truth is that the markets will NEVER be a level field. There will always be insider trading, there isn't anything you can do to stop it. The only way that insider people get caught is when their lust-greed overrules their intelligence. It's when they make a BIG move based on insider information that they risk getting caught. If you want to count cards in Las Vegas, you don't sit at the $1,000 minimum single-deck table and toss $5,000 chips out when there's a half-deck full of aces and face cards. You take down $10,000 in one deck and they'll toss you out. You go to a $5 minimum table with a 5-deck rack and a bunch of tourists, and you play to take that rack for no more than $1,000 and then you get up and go grab lunch and play at your next casino.
— September 24, 2011 7:48 p.m.
San Diego unions push transaction tax
"Don, in 1980 there were only 10 billionaires in America- now the entire Forbes 400 are billionaires, what does that tell you!" It tells me that the U.S. dollar is worth one hell of a lot less now than it was in 1980.
— September 24, 2011 5:01 a.m.
San Diego unions push transaction tax
Another thing I suspect you know but aren't willing to confess for whatever reason: Keynsian economics is a total failure. Macroeconomic policy has continually brought nations to their knees. They recover, because economic cycles are unavoidable, both positive and negative. But it isn't Keynesian theories in practice that revives anything, stimulus is a fairytale, shifting Fed policy only delays the inevitable. What brings the economy back is good old-fashioned Micro Economics. It's the guy or gal that decides to open up a shop an manufacture something that seems to be in demand. And that will also inevitably fail when politicians come in and demand a percentage, and then more of a percentage. Because, after all, it's the markets that are killing the poor people and business needs to have a heart and give. Or else. Same with traders, those bastards. They're stealing from idiots that give money to people that have no clue (nor care) about how to make money in the market.
— September 24, 2011 4:55 a.m.
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Moss Gropen
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Eve Kelly
Dryw Keltz
Eva Knott
Thomas Larson
Ken Leighton
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Mike Madriaga
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Scott Marks
Bob McPhail
Walter Mencken
Joseph O'Brien
Sheila Pell
Ian Pike
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H.G. Reza
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San Diego unions push transaction tax
Yeah, I agree. And the point is, that using a firm (or investing in the software yourself) to utilize flash trading is not a limitation to only certain investors, anyone can go to a firm that offers it. The point is that most don't, and that isn't because they have some social conscience about inadvertently fronting someone (or even purposefully doing that), it's because, as you point out, there's no guarantee of a profit and it could wind up as a loss. Depends on the investor's strategy as to whether it's worth it. In other words, if flash trading was a slam dunk, almost everyone would be doing it, and certainly most firms that offer HFT would also offer flash trading and that simply isn't the case.— September 26, 2011 3:05 p.m.
San Diego unions push transaction tax
Both you and Don are presuming that HFT and Flash Trading are one in the same. HFT does not present an opportunity to front other investors. Flash trading does. Currently, there are very few firms that offer flash trading. The benefit to liquidity in the market is stability in the market. Traders that utilize HFT technologies make so many trades in a single day - and I mean buying, selling, re-buying, re-selling that could all happen within seconds - that many analysts believe the liquidity actually controls the risk of volatility. And if you think about that on a broad, dynamic scale, where trades are being made at volumes where the slightest movement triggers a counter-movement, it makes perfect sense.— September 26, 2011 1:34 p.m.
San Diego unions push transaction tax
She worked for the Wall Street office of Cadwalader, Wickersham & Taft while obtaining her Juris Doctor. They lost their ass a few years ago in mortgage-backed securities.— September 26, 2011 11:45 a.m.
Is He a Citizen?
Excuse me, Mr. Gilchist, but you and your henchman are about 15 years too late to the party. I don't care who is or isn't a racist, there is no separation of hatred from any of the groups. A bunch of Veterans missing their days in the service got together and cooked up a scheme so swell that I'm sure you all have yourselves convinced that millions of illegals are massing into the U.S. every week. Sorry to disappoint you and the politicians that have obviously duped 40% or more of the American people into believing that illegals entering the country is some big enormous problem, but the very small amount of illegals that enter the country pales in comparison with the problem that the U.S. now has, which is what to do about the many millions of Mexicans and people of other nationalities that have been living and working in the U.S. for 20 years or more. So why don't you and all of the other Rambo types put away your guns, break camp, get together back in the city, and figure out a solution to THAT issue. And you'll have to do it without violating their human rights, an issue that Arizona obviously doesn't yet understand. And you'll have to do it knowing that until the U.S. Constitution is changed, that all of their babies and children that were born in the U.S. are U.S. citizens, so deporting their parents might not be in the best interest of the U.S. since having a bunch of babies and children being taken care of by the State doesn't sound like a good idea. And you can start first by understanding that the U.S. brought this on themselves. I've lived in Mexico, right here on the border, for almost 20 years. When I first came here - crossing the border every day through various ports of entries - literally thousands of illegals simply ran through the border every day in packs of a couple of hundred at a time. Sometimes the single border guard that chased the pack managed to apprehend one. Before I came to live here, I hear it was much worse. That never happens now. I could go back to research I've done, historically, concerning how the State of California actually encouraged Mexicans - regardless of status, paperwork, citizenship - to cross any way they could and work the fields in Central California, as late as the 1960's. But I won't bother, I'm sure that all of this has been pointed out to you before. The problem started then and there. The point is, your organizations will never have any effect on the politics of trying to get the government to keep a few dozen Mexicans a week from entering the U.S. illegally through the desert. Because what you are doing is a silly and veiled attempt at pretending you are back in the service and somehow serving your country. You aren't, you are simply making yourselves more irrelevant in the eyes of anyone that would take up a cause that you are pretending to promote.— September 26, 2011 5:41 a.m.
San Diego unions push transaction tax
She worked for the same Wall Street some years back that she is supposedly railing against now. Regardless of her message, she's a politician, and the motives of politicians are crystal clear. They want to be elected and re-elected. nothing else matters.— September 25, 2011 1:02 a.m.
San Diego unions push transaction tax
I agree, minimally, this. But if anyone really wants to straighten out Wall Street, simply undock that capsule entirely from the government, and abolish the SEC. After that, dismantle the Fed, it isn't necessary. Once you've unplugged the government from affecting the markets and the economy in general, all of those Economists can concentrate on doing something useful and contributing to society in ways that are both helpful and potentially profitable. Like making donuts or manufacturing fishing rods and reels.— September 24, 2011 10:11 p.m.
San Diego unions push transaction tax
If Wall Street wasn't connected to Government in any way - I mean a complete separation - then there wouldn't BE any lobbyists, nor any bailing out, ipso facto, less highly speculative (or downright sketchy if you will) trading. It would be caveat emptor. There are other places and ways to invest where the investment is safe. The return isn't so swell. People are outraged at Wall Street. They should be outraged at government. They should be outraged at the SEC. More regulation isn't going to change a thing, because government is corrupt. Traders will use any advantage they can to make a profit. There is already plenty of regulation in place to try and limit that advantage, and current regulation isn't even being enforced. How is MORE regulation going to help? You can think that Elizabeth Warren is a lovely human being. She is a democrat running for U.S. Senate. She wants your vote. She wants the votes of 51% of the voting public. She will say whatever it takes to get that 51%. She is running against a Republican, and obviously attempting to divide and conquer in the liberal State of Massachusetts. Caveat emptor.— September 24, 2011 8:09 p.m.
San Diego unions push transaction tax
Okay, not everyone has access to HFT. But to me, that's a lot like playing blackjack and having the ability to count cards. Some people have that ability and some don't. Following your logic, card counting should therefore be illegal playing blackjack. The reason that it's illegal isn't because some people don't have the ability to count cards, it's because the casinos have a disadvantage, and they control the game. My point - why I agree with Jeff - is that there is this notion that the markets should be a level playing field, and oh the outrage that it isn't! But the truth is that the markets will NEVER be a level field. There will always be insider trading, there isn't anything you can do to stop it. The only way that insider people get caught is when their lust-greed overrules their intelligence. It's when they make a BIG move based on insider information that they risk getting caught. If you want to count cards in Las Vegas, you don't sit at the $1,000 minimum single-deck table and toss $5,000 chips out when there's a half-deck full of aces and face cards. You take down $10,000 in one deck and they'll toss you out. You go to a $5 minimum table with a 5-deck rack and a bunch of tourists, and you play to take that rack for no more than $1,000 and then you get up and go grab lunch and play at your next casino.— September 24, 2011 7:48 p.m.
San Diego unions push transaction tax
"Don, in 1980 there were only 10 billionaires in America- now the entire Forbes 400 are billionaires, what does that tell you!" It tells me that the U.S. dollar is worth one hell of a lot less now than it was in 1980.— September 24, 2011 5:01 a.m.
San Diego unions push transaction tax
Another thing I suspect you know but aren't willing to confess for whatever reason: Keynsian economics is a total failure. Macroeconomic policy has continually brought nations to their knees. They recover, because economic cycles are unavoidable, both positive and negative. But it isn't Keynesian theories in practice that revives anything, stimulus is a fairytale, shifting Fed policy only delays the inevitable. What brings the economy back is good old-fashioned Micro Economics. It's the guy or gal that decides to open up a shop an manufacture something that seems to be in demand. And that will also inevitably fail when politicians come in and demand a percentage, and then more of a percentage. Because, after all, it's the markets that are killing the poor people and business needs to have a heart and give. Or else. Same with traders, those bastards. They're stealing from idiots that give money to people that have no clue (nor care) about how to make money in the market.— September 24, 2011 4:55 a.m.