The Stock Market is Rigged

This shouldn’t come as a surprise to anyone, but the fact that it’s appearing in mainstream sources is a change from the norm.

Photo courtesy of Bloomberg

Photo courtesy of Bloomberg

The explosive declaration by acclaimed business author Michael Lewis that the world’s largest sharemarket is “rigged” by high-frequency trading has sent Wall Street into a flux of chatter, self reflection and, in some cases, denial.

“The United States stockmarket, the most iconic market in global capitalism is rigged . . . by a combination of the stock exchanges, the big Wall Street banks and the high-frequency traders,” Lewis says.

The provocative comments by the former Salomon Brothers bond salesman turned writer who has become famous exposing the rot in the finance sector will confirm the worst-held fears of regular investors: they are competing on an unlevel playing field that is tilted in favour of an elite few…

http://www.smh.com.au/business/markets/youre-going-to-get-crushed-is-wall-street-rigged-20140402-35×66.html

http://www.cbsnews.com/news/is-the-us-stock-market-rigged/

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