Are the chickens running around yet?
- Thread starter Cocks are Number 1
- Start date
Its not like that at all. You had multiple republican run elections that are somehow secretly undermined by the democrats with no evidence?
Putting someone on an ignore list isn't a good look btw.
The Russian collusion thing... it was beautiful. When I saw... I said... look at this guy Trump... he's bending over and grabbing his ankles for Putin... you know... it was a disaster... a total disaster.. and I said to myself... you know... he has to be in the russian's pocket. And many people were saying that. Many people. And then... we find out... he might not be... I say to myself... I guess trump is a just a huge pussy.
Far left. Pun intended.
A “huge pussy”?.... okay.. let’s have a contest. Post a picture of your wife, and I’ll find a few of Melania. Is “huge pussy” therefore a compliment? You know..
Just trying to figure out how this works. Lol
My wife is actually really damn hot (and also happens to be smart and funny as shit). I definitely out kicked my coverage. I am loving working from home with her prancing that ass around in those tight yoga pants. And no, I am not posting any pics of her as I do not seek the approval of random internet trolls.
Remember when Melania refused to move to the white house until trump revised her prenup? you know what they say about small hands...
Ignoring people on a message board is some true beta cuck shit.
This is also a genuinely stupid metaphor. It's not at all like that.
Far left. Pun intended.
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That's actually pretty well played
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That's actually pretty well played
Again, I don't care to see anyone's tax returns mostly because I don't want to have to ever show mine. That's private information.
Stupid because parents have full control over their children? So in theory, Biden knew his son Hunter was banging his sister-in-law, hitting the crack pipe and making millions off his Dad's influence within the US government? In that case, I totally agree......terrible metaphor
Spygate? Keep up please, ha
'Unmasking' investigation closes without report or charges: report
The Justice Department reportedly concluded its investigation into unmasking requests made by Obama-era officials without charging anyone involved or releasing a public report on the issue.
Just to leave out confusion, are you saying you're for showing them or against? Not that it matters, just curious if I'm unique on this one.
I think that someone running to be the leader of the free-world should be subject to more intense scrutiny than the average American (or even the average Congressperson). For this reason, I support President and VP candidates releasing their last 5 years of tax returns. No one else should be required to do so.
Fair point.
I think they are subjected to a tremendous amount of private scrutiny, inclusive of a lie detector test and 15 + years worth of background check for TS with lie detector and Q clearance which includes financials. If he was hiding anything, I'm pretty sure it would have prevented him from being sworn in.
That said, maybe we open it up to anyone that is paid by our tax dollars. I'd like to see how some of these public officials live.
I'd also like to see their trading portfolios to see where they moved ahead of the market. I'd take this over any tax returns.
The challenge for the trading portfolios is that most elected officials have financial advisors who handle their trading. They have a very plain plausible deniability to using inside info to perform trades. That was recently used by David Perdue to explain his stock purchases during the pandemic.
Senator Perdue's stock portfolio remained active during pandemic
U.S. Sen. David Perdue’s financial portfolio saw heavy trading during the month of March, a period during which Congress passed three different spending bills to address the spread of COVID-19 and the markets took a turn for the worse.
The challenge for the trading portfolios is that most elected officials have financial advisors who handle their trading. They have a very plain plausible deniability to using inside info to perform trades. That was recently used by David Perdue to explain his stock purchases during the pandemic.
Senator Perdue's stock portfolio remained active during pandemic
U.S. Sen. David Perdue’s financial portfolio saw heavy trading during the month of March, a period during which Congress passed three different spending bills to address the spread of COVID-19 and the markets took a turn for the worse.www.ajc.com
Yep, totally get that (I'm in the trading space) but if the advisors move stock ahead of the market (see Covid lock downs) and their client is a high ranking government official with inside knowledge of say a Covid lockdown, that could be deemed as insider trading/out of bounds even if the client claims they are passive.
The challenge is I doubt the SEC or Finra have the bandwidth to really go after individuals at this level.
Just to add to this, my last job required me to spend quite a bit of time with the SEC (not the conference, the regulators
) and what I found out was that they were only able to pursue roughly 40% of all reported infractions so they have to prioritize which ones they chase.A company I lead an investment in about 18 months ago, just recently won a mandate to build a real time trade marking platform for them. Basically, it flags anomalies in both real time and historical measures. Very interesting stuff
This video raises eyebrows and offers really valid suggestions for what to do with the election process for future proofing, ie Real Time audits of the voting process by state just being one.
The SEC mandates all trading algos go through an audit, compliance and certification process so I'm not sure why voting algos don't follow the same vetting. (if they do, someone please correct me)
Also, for those who might suggest the volume is too high to sustain real time.......our pre-trade risk technology is hardware accelerated and can process a transaction at 800 nanoseconds and we are 500 nanos off the top provider. We processed 37m transactions yesterday (US based flow) alone and our market data feed handler technology can process about 7m messages a second, which is also just behind the top competitors.
We have archaic tech behind such a critical event for the country, that shouldn't be argued by either side
Just to add to this, my last job required me to spend quite a bit of time with the SEC (not the conference, the regulators
A company I lead an investment in about 18 months ago, just recently won a mandate to build a real time trade marking platform for them. Basically, it flags anomalies in both real time and historical measures. Very interesting stuff
I think we ought to roughly quintuple funding for enforcement agencies such as the SEC and IRS. It more than pays for itself and, honestly, would probably lessen resentment of the average joes for the upper class. As it stands (and as you stated), simple cases tend to be disproportionately pursued (and simple = poor, very often). What do you think?
As long as that doesn't end up in more regulation for the markets or higher corp/income tax then so be it. The investment banks already average roughly $1b in annual spend to solve for regulation and compliance requirements between Dodd Frank, Volker Rule and even MIFID II which is a European regulation. If you push more reg/compliance down, they will just offshore more jobs/cut business lines.
While I'm typically in favor of more regulation, I think what I'm angling towards here is "enforcing the laws." If entities are currently breaking the law but can get away with it because of lax enforcement, I don't have much of a problem with them taking a financial hit.
The issue is around the tools they use or have available to them to use and probably around subject matter expertise. R&D and tech spend at a place like Jump Trading, Citadel, Virtu etc is in the tens of millions of dollars annually. Some of their strategies are dependent on having the best tech. Until the SEC/other regulators invest similarly, they will struggle to keep up and I think their inability to pay wall street salaries means they won't get the talent they need to crack down.
You also really can't apply much more regulation to Wall Street. The restraints put in place by Volker and Dodd Frank pushed a great many buy-sides/hedge funds out of the markets all the together and you saw a huge talent leak out of banking/trading which is detrimental. Many will suggest the average Joe gets picked apart in the markets but that's not entirely true. Average Joe's aren't looking at penny spreads because they aren't moving huge block trades at 10,000 to 100,000 shares at a time or trading in small lots but at frequency to the tune of call it 2 million transactions on a single liquid stock in a trading day.
Where the average Joe does get picked apart is in derivatives trading and that's because they aren't nearly as sophisticated and don't play with the same set of tools. That's a pro game in my opinion.
Take a look at FRTB regulation (Fundamental Review of the Trade Book). That is the next big hurdle for the sell-side banks that is going to further restrict the banks balance sheet. The banks are simply going to start exiting business lines for lack of profit.
CBOE has a big problem with the Consolidated Audit Trail. They told me its a massive expense for them. Not sure which law mandates it. Volker? Dodd Frank?
I thought it was Volker and honestly, everyone has a problem with it. The banks assumed it would just go away but now are scrambling for solutions. The amount of money they spent on OATS was substantial so switching to CAT likely will incur as much cost, if not more.
If CBOE need some suggestions for third parties, I did lead an investment into a provider who I think are pretty good. I know the COO at CBOE from his BATS days, can ping him if you think it makes sense?
