Advantages at unfathomable speeds earning billions off price differences measured in pennies. Were in the era of high speed trading. I am troubled as are many by some of its hall marks. It is an era of market instability as we saw in the 2010 flash crash. This subcommittee and Senate Banking committee shared in a hearing. It is an era in which stock Market Players by the right to locate their Trading Computers closer and closer to the computers of stock exchanges confirm a little speed advantage yielding massive products. It raises the question of whether much of what we call the market is in fact an illusion. Many, including this senator question whether the rise of high speed trading is overall a good thing for markets and investors. But without question, this era has seen a rise of conflicts of interest. These conflicts will be my focus today. Other senators may focus on this or other aspects of high speed trading. New technology should not erase enduring values. Financial markets c
Expense of their clients. We have assigned artificially high ratings of securities in order to keep the business. Now with that history in mind, those that argue that the conflicts that we will explore in this hearing are manageable are acceptable have a mighty high burden of proof which seems to the average investor to be a simple stock market traders usually a complicated series of transactions involving multiple parties, complex technology and the everincreasing number of border types and payment arrangements. There are retail brokers like the ones found in the main street offices across the country and on tv advertisements. There are wholesale brokers who buy orders from the retail brokers come and there are dozens of trading venues where the shares are bought and sold. The party making the decision should be influenced by the best interest of the investor. That is what ethics demand and what the law requires. But there is another factor in play. At both decisions points, the curre
Feel your party, the Democratic Party does not Pay Attention to them any more you are more concerned with what bathroom people go into, to how they earn a living . What is the message. Very fair question. One, you give me credit. Its about 1 10. Its not a bad rate for me. Look, if we were going back in history to the 30s and 40s, and you asked the average working person, which party is the party of the Working Class in america . Overwhelmingly, people would have said it was the Democratic Party. Today people do not say that. And for good reason. No. When we talk about the greed on wall street, it wean the the republicans alone who did it, they did it with democrats. It was a democratic administration, not a republican
administration, that brought forth nafta, i think the democrats have got to make a fundamental choice, chris, that is which side are they on . You cannot be on the side of wall street, of the Drug Companies and the Insurance Companies and the big money and go to Working P
That and the rest of the days top news just ahead this hour. Hello, im greg jarrett in for shepard smith. We begin with the fight over the president elects foundation and his plans to shut it down before taking office. President elect trump says hes told his legal team to begin dissolving the foundation. Hes also defending its work saying 100 of the money has gone to charity. He wrote this in a statement. The foundation has done enormous good works over the years in contributing millions of dollars to count less worthy groups including supporting veterans, Law Enforcement officers and children. Because i will be devoting so much time and energy to the presidency and solving the many problems facing our country and the world, i dont want to allow good work to be associated with a possible conflict of interest. Well, democrats are saying thats not nearly enough. The new York Attorney Generals Office has been investigating that foundation. There were reports that some charitable money wen
After 50 years of operation, Jamaica’s largest car rental company, Island Car Rentals Limited, now has new owners. The company changed hands nearly two months ago but is only just going public following the recent passing of founder and majority.