Is The Stock Market Rigged? - Dylan Ratigan Video - Ask Brian Sack, He Runs The PPT

Video:  Ratigan interviews Senator Ted Kaufman -- Oct. 11,  2010

Excellent discussion of high-frequency trading (hft), and last week's 60 Minutes report on the flash crash.  Of course there was no mention of the Federal Reserve's role in rigging the market, the PPT or head Fed trader, Brian Sack.

• Go ask Brian Sack about Fed stock market manipulation -- He might have a story to tell you about buying S&P 500 futures when things are looking dicey...All Hail the PPT!

• To get around the WSJ paywall for the Brian Sack story, just click through from Google -- I have the link waiting for you at the top of google search results here.

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Related:

• Listen To The Stock Market Flash Crash - Tick by Tick - Read The NANEX Final Report Contradicting The SEC -- How Armageddon Sounds
  

• 60 Minutes Examines High-Frequency Trading (Video, Transcript)

• Alan Grayson Asks Fed Lawyer - "Has The Federal Reserve Ever Tried To Manipulate The U.S. Stock Market?" -- Awesome Clip

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As per usual, check in the first few comments below for more links.

Comments

[DailyBail]

Sen. Ted Kaufman Will Replace Elizabeth Warren As Head Of TARP Oversight Panel

http://dailybail.com/home/sen-ted-kaufman-will-replace-elizabeth-warren-as-head-of-tar.html

[DailyBail]

Ted Kaufman's Mission To Break Up The Mega Banks

http://dailybail.com/home/ted-kaufmans-mission-to-break-up-the-mega-banks.html

[DailyBail]

Vatican Banking Fraud Probe Widens: Church 'Astonished' It Must Adhere to Money Laundering Laws

http://www.activistpost.com/2010/10/vatican-banking-fraud-probe-widens.html

[DailyBail]

Brian Sack Engineers Big Moves at Fed

http://online.wsj.com/article/SB125720947716624249.html

[DailyBail]

Barney Frank Was Present During Partner’s 2007 Pot Bust… Says He Didn’t Know It Was Pot (Video)

http://gatewaypundit.firstthings.com/2010/10/barney-frank-was-present-during-partners-2007-pot-bust-says-he-didnt-know-it-was-pot-video/

Somewhat funny...

[DailyBail]

The Lawyers Who Fight Foreclosures

http://online.wsj.com/article/SB10001424052702304410504575560072576527604.html?mod=patrick.net#printModeAd

Excellent story...free...no sub required...

[DailyBail]

Legal pot means big savings on law enforcement

http://money.cnn.com/2010/10/21/news/economy/marijuana_california/index.htm?hpt=patrick.net#cnnBody

$1 billion in savings...it's gonna happen...

[DailyBail]

A new report says the burden on California families to support the state workers' pension system could triple within a few years and drag the state down further into the financial hole.

The Milken Institute, an independent think tank, said California's pension obligations to retired state workers already cost each Californian $3,000 every year. By 2014, that cost could go up to $10,000 a year, the group's report said.

http://cbs13.com/californiapolitics/california.pensions.cost.2.1971337.html

[DailyBail]

NEW YORK (CNNMoney.com) -- The foreclosure document fiasco has already caused a major headache for U.S. banks -- and that headache may soon escalate into a migraine.

http://money.cnn.com/2010/10/22/real_estate/repurchase_banks/index.htm

[Z]

Restore Uptick Rule.

[Big M]

Only an imbecile could ask that question.

[john]

Huge UPDATE:


D.E. Shaw hires Sack from NY Fed, Ubide from Tudor

http://www.reuters.com/article/2013/03/07/hedgefunds-deshaw-idUSL1N0BZ69J20130307

[snip]

D.E. Shaw & Co, a $28 billion hedge fund firm, known for its quantitative modeling, has hired a former top official from the Federal Reserve Bank and an economist from a rival hedge fund, to work in its macro investing unit, the firm said on Thursday.

Brian Sack, had been an advisor to the president of the Federal Reserve Bank of New York and prior to that headed the bank's Markets Group. Angel Ubide, had been director of global economics at Tudor Investment Group and before that worked at the International Monetary Fund.

Together the pair will be co-directors of Global Economics at D.E. Shaw's discretionary macro investing unit.




Note: DE Shaw is part owner of First Wind/UPC.

[john]

How HFT really works:

Nanex just released this animation of how this works. Read what BATS is first. https://www.batstrading.com/about/



BATS Quote Update - who gets it first, and when, Part 2

https://www.youtube.com/watch?v=kb6hpAZUlCQ&feature=youtu.be


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Flashback: http://dailybail.com/home/nanex-ceo-hft-makes-a-mockery-of-markets.html