September 11, 2011
All that is wrong with Wall Street can be seen on a daily basis with the trading of Siri. Naked short sellers and the up tick rule are two of the biggest problems with the lack of regulation. Your ability to regulate trading is viewed as benefiting the rich with deep pockets. They even made a movie about trading in this equity, and still nobody does anything. The majority play options and never invest long term anymore because they don't trust the SEC to regulate. HFTs with the ability to make millions of trades/sec. means you've created a monster you can't control. Some think commenting here will make a difference, I on the other hand am very skeptical. You give clear advantage to those that are willing to spend more to view what the little guy is doing and steal his money. Wall Street isn't where a person could invest a few dollars for retirement anymore. For that to happen much would have to be done to level the playing field. The lobbies are too strong and the money will continue to rule any decisions made at the SEC. I'd be willing to bet that one in ten don't even know who heads the SEC, because business is conducted through press releases with no accountability.