Who Owns the U.S. Stock Market?

[kpete]

Who Owns the U.S. Stock Market?
By Pam Martens and Russ Martens: July 8, 2014

...........................................



It’s been four years since the Flash Crash on Wall Street sent stocks into a 900-point bungee jump, wiped out over $200 million of investors’ money by improperly triggering stop-loss orders, and shredded public confidence in stock markets. And still, to this day, the Securities and Exchange Commission does not have a Consolidated Audit Trail (CAT) to properly police who is placing orders, at what time, at what speed, in what securities and in which trading venue.

The SEC is 80 years old. If it really wanted to properly police stock trading on Wall Street, one has to figure it would have had that Consolidated Audit Trail in place long before now.

The concentration of insured deposits in the U.S. among these firms; the fact that over 90 percent of derivative trading is controlled by these same firms; that the same firms, over and over again are jointly owning pieces of the same trading venues; that they are now trading billions of shares a week in darkness, should be enough to send Congressional banking committees into a frenzy of drafting new legislation to rein in this mess.

It hasn’t happened. As Senator Dick Durbin famously said about Congress in 2009, the banks “frankly own the place.”



..................

the rest (Way More):
http://wallstreetonparade.com/2014/07/who-owns-the-u-s-stock-market/

[KittyWampus]

1. kpete, you find the most interesting stuff to post. Thanks and marked for later

[RKP5637]

2. kpete does, like an investigative reporter. I wish MSM covered what

kpete posts!

[kpete]

3. well

thank you both,
I just post what interests me...

Luckily, I found A Home HERE at DU!!!

peace,
kp

[raouldukelives]

4. Whoever invests in it, owns it.

And owns every action undertaken by the corporations to increase the value of the shares.
Good old fiduciary responsibility. Everything they do, they do it for you.

Which is why support of Wall St is where liberal rubber meets the proverbial road. There is no greater test than money and the sweet smell of it is too much for those with timid spirits. Even when it means turning a blind eye to the greatest affronts to humanity and democracy the world has ever witnessed, as we are now with climate change and corporate laws, they unabashedly swear allegiance to it.

I'm glad we got rid of slavery when we did. With our backbones today, it would be in no danger. People have no problem destroying third world people for profit and they aren't making any squeaking noises about our newest trade partnerships bringing that destruction home. Well, maybe on a message board, but certainly not in the board room. Not in any way that the employers can hear or care about. Corporate coddling comes first, in all meaningful ways, for them.