
There’s a new game on Wall Street— high-speed trading—and it’s rewarding the usual suspects; those traders with the ‘biggest guns,” in other words, with the fastest computers.
At the head of this list is Citigroup, the recipient of $45 billion in TARP funds from us taxpayers. Andrew J. Hall, who runs commodities speculation for an arm of Citigroup is getting a check for $100 million this year, not bad for just having the computers that gives Citigroup those precious few seconds on all the others on the Street; oh, yeah, wait there’s another player who just got the high-speed technology—Goldman/ Sachs, also a recipient of TARP funds, and a benefactor of $13 billion from the bailout of AIG … hmmmm …
So, in other words, these guys are taking the money that they were supposed to be fixing their beleaguered loans (think foreclosures and short sales here) with and investing it in commodity speculation again. They are “rolling the dice” again and again with our (taxpayer) money … hmmm …
We (the Obama administration) need stricter financial regulation on these Wall Street Players, these HUGE corporations and they also need to tax the six-figure incomes more.
The House just passed a bill setting stricter rules for pay packages at a wide range of financial institutions on the Street but, unfortunately, it is opposed by the Obama Administration.
Well, Barak, I think the House shot a three-pointer but you blocked it and I could have swore when I voted for you that it said Democrat next to your name wait a minute … now that I think of it … I did this once before … in 1992 … his name was, hmmm, yeah Bill Clinton … say, isn’t his wife working for … ? Just sayin’ …