Senator Levin Quotes Tickerguy! (Flash Crash)
The Market Ticker ® - Commentary on The Capital Markets
Posted 2010-12-08 16:12
by Karl Denninger
in Regulatory
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Senator Levin Quotes Tickerguy! (Flash Crash)
 

In the hearing going on right now, The Senator said (in part):

One well known trader, Karl Denninger, recently made this public comment about U.S. trading activity:

“Folks, this crap is totally out of hand. And it's now a daily game that's being played by the machines, which are the only things that can react with this sort of speed, and they're guaranteed to screw you, the average investor or trader. Go ahead, keep thinking you can invest.” (Emphasis omitted.)

Yes, I sure did. 

May I ask why Nanex was not included in these hearings?  They seem to have it documented quite well.

There was also my little July 4th missive and follow-up as well.

This much we now seem to know - at least some folks on The Hill read The Ticker.

Discussion below (registration required to post)
 

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User Info Senator Levin Quotes Tickerguy! (Flash Crash) in forum [Market-Ticker]
Sunriser1
Posts: 3115
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Green A True American Patriot!
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I love it another quote from book of Karl.

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People call me depressing, I tell them I'm just well informed.
Alsace
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Gold A True American Patriot!
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smiley
Gates
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Scottsdale
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Congrats Karl
Workerbee
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* Winter is Coming *
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Whodathunk "Senate Hearing" and "Karl" would end up being a good thing?


Very cool!

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Prepare for Our Valley Forge
*~* Appeal to Heaven *~*
...that those "who having no appeal on earth to right them, they are left to the only remedy in such cases, an appeal to heaven." ~John Locke
Lenguado
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Orlando, FL
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smiley smiley smiley smiley smiley

smiley smiley smiley smiley smiley

smiley smiley smiley smiley smiley

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I just realized... they aren't saying, "Keynesian Economics"
they're saying "Kenyansian Economics". Grass Huts for everyone!
smiley
Welcome to history’s first Double Dip Depression
Geckogm
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Canyon Lake
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Your being introduced as well known... before the committee. Nice!!






Markgoldman
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Very happy about this, excellent work as always Karl.

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Consent Withdrawn.
Luvs_footie
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"Mountains move one prayer at a time"

Your starting to be heard old mate.

A voice in the wilderness?......not anymore.

Congrats KD
Bohemian
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Now get Congress to call Karl as a material witness with live NANEX showing trades that never seem to be traded to falsely inflate every aspect of buying and selling.

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"The politicians are put there to give you the idea you have freedom of choice. You don't. You have no choice; you have owners. They own you. They own everything." - George Carlin
Patentleathershoes
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Did he really use the word crap?

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"An unborn child's property rights are protected by law. His right to life is not." Ronald Reagan
Checkthisout
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Kudos!

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Allanon
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Quote:
One well known trader, Karl Denninger


Are you certain the word "trader" was properly transcribed?

smiley
Drench
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Quote:
Did he really use the word crap?
Yes.
Asimov
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Nanex wasn't included because they'd show the SEC to be the fools we all know they are and that their report blaming W&R is total bull****.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Genesis
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Yep. They'd also show and prove the bid-rigging that I documented back on July 4th, which incidentally, proves it hasn't stopped and wasn't a one-time deal (along with Nanex)

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Asimov
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You've probably seen this, but if not, you should.

http://www.nanex.net/FlashCrashEquities/....

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Damnitalready
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Congrats KD!
Xanares
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They should invite that well known trader to come speak a bit :-)

Congratz getting through on that one Karl, that's immense.
Digalert
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Keep it up Karl, at least we know that some in the DC cesspool don't consider NYTimes and NBC the only information available.
Gloomboomdoom
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Time to take back the Democratic party and restore it to its Kennedy/Roosevelt roots!

Liberal= the Founding Fathers
Gable
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Karl,

Congratulations for getting these guys attention. Maybe they will slowly start to understand they are getting snookered as well.

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In all of history, no government became more honest, less corrupt, or granted its citizens more rights as it grew in size. E.L. 2011

Ellie's Law-As an online discussion about the failures of the Obama Administration continues, the probability someone shouting "It's Bush's Fault" approaches 1
Allclear
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will i be reimbursed for my loss?

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Many of the truths we cling to depend greatly on our point of view...Obi-Wan
Icarus
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Congrats, KD.

Also,
Quote:
Did he really use the word crap?

Sen. Levin, in committee hearings several months ago, kept quoting the "****ty deals" e-mails back to the G-S guys. He seems to enjoy quoting salty language.
smiley
Bagbalm
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I'd love to see Karl testify before Congress. They would all cover their ears and go - NA NA NA NA...to cover over any truth they might hear.
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