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IPFS News Link • Economy - Economics USA

Market Ticker's Karl Denninger reveals brokerage scam skimming pennies on stock trades

05-09-2010 • Liberty Cap Press/The Invisible Hand

According to Market Ticker's Karl Denninger, during, the 6-minute crash and rebound on May 6, 2010, brokerages were illegally shutting down trades with the New York Stock Exchange and going to other exchanges for trades instead, but giving their customers the NYSE-quoted price for shares (The NBBO or "National Best Bid and Offer") and then pocketing the difference. He openly questions whether this has been going on for the last 5-10 years without anybody ever noticing. This is all revealed in an interview for an upcoming episode of the Invisible Hand podcast on LibertyCapPress.com, a portion of which was released on YouTube this morning. A transcript of the excerpt can be found at the Liberty Cap Press website.

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Reported By Tracy Twyman

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