Jim Cramer won’t tell you this

The stock market is rigged:

Michael Lewis gave an interview to “60 Minutes” ahead of the publication of his book, “Flash Boys.”

He alleges that the stock market is “rigged” by a cabal of high frequency traders, stock exchanges, and Wall Street firms.


He alleges that high frequency traders are able to front run orders, which means they are able to buy in front of you and sell them back to you when you want to buy.

The real purpose of the stock market and Wall Street is not to make you rich from investing in stocks.  No, the stock market acts as a wealth transfer mechanism, taking money from small investors and funneling it to brokers and investment banks in New York.

As brilliantly laid bare by producer Martin Smith on another PBS program on April 23 of this year, Wall Street has become an institutionalized wealth transfer mechanism, moving the savings of the little guy into the pockets of the very rich.

And that’s why the 1% has gotten richer since 2008.



Categories: Bastards, New York sucks

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: