Because you can just bribe them. They’ll act like they’re trying to do something with comparatively miniscule punitive actions like…

NYSE pays $5 million fine for giving private customers a trading head start before public investors.

The IEEE, of all places (well, it’s an opinion blog), interesting. I guess machines are the majority trader on NYSE these days with millisecond algorithmic robo-trades, so that kind of makes sense.

Anyway, this is for those people who think more government regulation of Wall Street is somehow going to contain fraudulent financial activity. A $5 million fine for them is like a 5$ parking ticket for us.

I can just imagine the talk in the SEC… “Hey, some jerky whistleblower is gonna leak this anyway so we might as well run cover by acting like we’re not bought off… How about a 7-figure fine?” ‘Brilliant! *glasses clink, cigars puff*’

Hat tip to cryptogon!

Advertisements