This, The Wall Street Code documentary video ( https://youtube/watch?v=GEAGdwHXfLQ ) is absolutely fascinating. A must watch for anyone considering the question of it being a good idea a whole nation having income retained by force from their pay to then be put in a pooled investment fund to then be sunk into the global financial markets that are very clearly a free-for-all for a very few with their high frequency computer trading market order manipulation frauds, but not fair for the many that are told to buy and hold for the long-term. Back when current New Zealand Prime Minister John Key first started climbing the ladder all the way to head of European Derivatives for global investment bank Merrill Lynch in the world of high finance, an investment banks propriety trading desk had a great advantage at profiting from the average punter and its customers by having computer access to more layers of buy vs sell market order information than they did, but as John Key noted in his recent book that advantage at one stage dried up as the populous got wider access to the same information; nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11281699 John Key Currency trading margins were being squeezed by new information technology that let clients see the market as clearly as dealers could. But very topical to this documentary about high frequency computer trading fraud, John Key back in 2005 and 2008 said this; From Article by Fran O’Sullivan titled – Key chases luck o’ the Irish – published New Zealand Herald July 20 2005; John Key - We transferred across the aircraft leasing business, the complex interest rates derivatives business, the entire back office for global foreign exchange and a huge chunk of private clients business, From John Key – The Unauthorised Biography - Weekend Herald Sat July 19 2008; John Key - We had this beautiful thing going because we were the first to supply margin trading to big hedge funds. We had the capability to cross-sell them several products using one bit of margin. “I had a whole lot of people working for me who were at the cutting edge of delivering quite complex and new and innovative products. They tended to either be a new product or into a new market, usually the emerging markets, Russia, Brazil, Argentina. I wasn’t the guy sitting there dreaming it all up, but I was the guy who was responsible for those people.” end quotes John Key just gets more interesting by the day, yet the mainstream media no longer even mention his adopted Wall Street family?
Posted on: Sun, 17 Aug 2014 09:13:14 +0000
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