The Market Ticker
Commentary on The Capital Markets- Category [Corruption]

Oh oh.....

Braman vs CME

The CME has categorically denied that this "enhanced" or "first look" data feed exists.  Further, there have been multiple statements made by the media and various participants on the floor of these exchanges in which the claim has been made that these venues are not polluted by the sort of "HFT direct connection" cancer that appears to be all over the stock exchanges.

This lawsuit alleges otherwise, and further lays forth a very-specific statement of misconduct (read starting near the bottom of page 6.)

Either these folks are full of it or they're not.  

There is little middle ground possible.

This one bears watching folks.

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It's a bad idea to take an envelope that allegedly contained $20,000 in exchange for "access to city officials."

According to the U.S. attorney's office, the FBI first learned that he may have been involved in illegal activities years ago and started an investigation in 2010.

During the course of that probe, the mayor allegedly accepted bribes from undercover FBI agents on five separate occasions, in exchange for access to city officials responsible for planning, zoning and permitting.

That could be a problem.

I mean, in the grand scheme of things taking a $20,000 bribe seems to be pretty small potatoes, especially considering that it was not long ago that we had banks selling billions of "vomit" to people that were represented as being "good securities."

But...... I guess it's a start.

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