Tag: chicago mercantile exchange

Wall St – not about investing but fixing the game

playing cards courtesy of Chance Agrella, photographer

photo courtesy of Chance Agrella, photographer

An article in the NY TImes today reports1 that NY Attorney General Schneiderman is pursuing various information providers, Thomson Reuters in the immediate case, for their practices of selling market sensitive information preferntially. Those paying a premium get information several minutes before its release to the general public. This is more evidence that Wall St (standing in here for the financial sector as a whole) is largely a fixed gambling racket. Not much different than a casino.

  1. Regulators Examining Early Sales of Financial Data http://nyti.ms/12hDF3t []