(The Dow lost 1,000 points in a matter of minutes in the Flash Crash, and anyone placing market sell orders then risked getting plucked. Plucked real good, some of them, in what clearly became cyber fraud as prices shot back up. We stopped using any kind of market order ourselves as a result, and have already blogged about why, and suggest that our readers consider sticking with limit orders instead.)
Yesterday, officialdom came out with a report concluding that last Spring’s high-speed computer trading hiccup was caused by high-speed computer trading. The SEC congratulated itself on something too, but I lost interest in anything these people were trying to tell me long before getting to that part of the story.
There are four words to the term, high-speed computer trading, and nobody thought to remove the first three, and start with the only one that really matters.
Officialdom put some geek in charge of the reporting team. In a separate article the geek boasted that he found out exactly what happened, and the report lays blame on a single unidentified large player.
A single unidentified large player who was trading at the time.
We, you and I and most normal adults in this country, invest, putting our life savings into a small number of risky enough business ventures, and our Government allows the worst kind of bloodsucking thieves to kick us in the financial acorns from 9:30 to 4 Eastern every $#&%ing weekday, including most religious holidays, all of them if you‘re Jewish.
And officialdom’s geek wants to talk to me about high-speed computers.
$#&% officialdom, $#&% their geek, $#&% high-speed computers, and point me at all the readily identifiable racketeers who are doing us every minute of every trading day. I mean, what is it about our life savings that makes this their game?
That’s the hiccup Officialdom needs to be reporting on. That, and when is somebody going to start putting these a$$holes in jail?
