The Street Sweeper by Bill Singer
On Jan. 14, 2010, the Securities and Exchange Commission published a 74-page document that, in the unique parlance of Washington's do-nothing, time-wasting bureaucrats, is described as a "Concept Release on Equity Market Structure."
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[N]ow? Now is the time that the Securities and Exchange Commission decides to start "conducting a broad review of the current equity market structure"? Mind you it's not just an old-fashioned, regular-way review but the far more impressive "broad" review. It's so broad that it takes 74 pages just to explain what's involved. How many SEC staffers and staff hours do you think were invested in churning out this expansive document? Perhaps as many as were allocated to catching Bernie Madoff? OK, you're right, cheap shot.
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By way of preamble, this blog is about Goldman, Sachs & Co. and the Financial Industry Regulatory Authority's ("FINRA") Board of Governo... Read On