The US Stock Market is Rigged. GREAT story from 60 Minutes shedding light on how wall street banks use high frequency trading to game the stock market. Massive systems, computing power, server locations, even cable lengths in the server rooms are optimized to gain fractions of a second with trades, which amounts to massive sums of money that regular investors are locked out of. Finally the FBI and the NY AG are involved to look at the practice. And the banks and high frequency trading firms are PISSED. Watch this heated exchange: cnbc/id/101544772 US Citizen ownership of stocks has dropped from 63% to less than 50% in the last 6 years.
Posted on: Tue, 01 Apr 2014 19:37:40 +0000
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