Banker Suicide Twitter Keiser

“Many theories are circulating about what causes these bankers to take their lives. Here’s my theory: I think it is a predictable extension of what economists call “moral hazard” that is the problem. Moral hazard is the idea that it is “okay” to allow bankers to pilfer a little bit every now and then, if it keeps markets open. In other words, regulators look the other way when bankers commit legal transgressions for the greater good, so they believe. The classic case being the specialists, the ones still at work on the floor of the New York Stock Exchange, are allowed to front-run orders, pocketing riskless profits, for the perceived benefit of allowing for uninterrupted “market orders” to transact: stoking order flow and easy access to capital.”

‘Spoofing’ – a practice of High Speed Traders. Is it illegal? David Grossman is the Newsnight Technology Expert.

Max Keiser, the host of RT’s ‘Keiser Report,’ is a former stockbroker, the inventor of the virtual specialist technology, virtual currencies, and prediction markets.

http://rt.com/op-edge/154932-banker-suicide-twitter-keiser/

UPDATE

“The 52-year-old woman, named only as Lydia, jumped from the bank’s riverside headquarters at approximately 10am on Tuesday, according to France TV and Le Parisien.” http://www.ibtimes.co.uk/paris-female-banker-jumps-her-death-office-window-after-clash-bosses-1446021

Newsnight talks with Michael Lewis author of ‘Flash Boys’ a book about these sharp practices

29 April 2014

UPDATE

Newsnight also covered this on 29 April 2014 and it has said that Pension Funds have been ‘fleeced’ by these High Speed Traders. It’s called ‘scalping’ and the practice is now out of control. http://www.bbc.co.uk/iplayer/episode/b042l7zb/Newsnight_29_04_2014/

Michael Lewis: ‘Wall Street has gone insane’

http://www.theguardian.com/business/2014/apr/16/michael-lewis-flash-boys-wall-street-insanecontrol.

GovWatch: Rumour has it that we the average ‘Honest John’ will need to take a 50 percent reduction of wealth because of what these ******* are doing. Get that letter off to your MP now! Insist on banking/finance reform as an issue in 2015.