HopeTracker| Securities and Exchange Commissioner Mary Schapiro cancelled her appearance at an industry trade group breakfast to focus on financial markets that are behaving like ‘girls gone wild’ (our words).
The SEC said on Thursday it was working closely with the Commodities Futures Trading Commission to review the unusual trading, which at its deepest point wiped nearly $1 trillion off equity values.
U.S. Treasury Secretary Timothy Geithner on Thursday held a conference call with Federal Reserve Chairman Ben Bernanke as well as with regulators from the SEC and the CFTC, a source said.
Now that human judgement is removed from stock trading, and the quant guys make and break companies at will, it may be time for the rest of us to retire to a small island somewhere — a cheap island, because we will have no real money left.
Viva testosterone-saturated male, mathematical brains. We’re in one hell of a pickle now. And did Larry have one estrogen-thinking woman on his CNBC show last night? Nada. Guys rule the markets; and quant guys rule with bigger brass balls than Zeus himself!!!
And you thought derivatives were complicated! Anne