Recent high-profile fights between different groups of computer-enabled-levered traders are just more evidence of the wild-west that poor oversight, purchased advantage and revolving-door appointments have made of so-called ‘investment’ markets. The loss-cycle this accentuates will hurt all participants, the overall economy and taxpayers. Shit-show exemplified. Senator Warren correctly connects the dots in this interview.
Sen. Elizabeth Warren lambasted the Securities and Exchange Commission on Thursday for the regulator’s failure to take action after a dayslong blitz of market speculation.
“We need an SEC that has clear rules about market manipulation and then has the backbone to get in and enforce those rules,” Warren said. “To have a healthy stock market, you’ve got to have a cop on the beat. That should be the SEC,” she added. “They need to step up and do their job.” Here is a direct video link.
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