Today Reuters reports that an SEC Commissioner is worried about "naked access", where a trader can "rent" a brokerage license. This will give the trader access to trades and prices before any other trader - maybe only hunderdths or thousandths of a second ahead, but if he has the computers set to "trade on condition" then he can do dozens of transactions before anyone else.
Now I wrote already about abuses in SEC, SPE’s and SIV's - How Wall Street is constructed to take from YOU which was about things happening several years ago. And even though we have just gone through a massive bunch of fraud on Wall Street, and many on TV and in print have said that special deals for the RICH are very wrong, we STILL have the SEC simply "worried", and not taking any REAL ACTION to stop abuses by "special interests".
CRAP like this is why we need to clean out BOTH HOUSES OF CONGRESS and demand that they stop putting crooks in positions of power (like the Treasury Secretary, a tax cheat).
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