The crime - computerized trading! Why, because the 'big firms' trade for pennies on the share, but a million shares at a time. You cannot hope for fair and equitable treatment, no matter how honest your local broker, it is a you play - you lose game. When the market was about long term equity and capitalization of companies then it made a lot of sense. Now it is all about speculation and quick turnarounds. A company can see ten percent of its stock traded in one day and end up less than three cents diferent in value. The Company did not gain, the stock holders actually lost, and the brokers cried all the way to the bank. We are doomed.

Interesting point about how capital markets have changed.

"Why aren’t people marching on Washington demanding someone”s ass. We are all sheep among wolves."

Because Americans are apathetic, lazy, and have grown addicted to the Federal government , expecting them to do everything for them short of wiping their asses. Americans think they're free and like to yell at the top of their lungs about freedom but a scarce few know what being free really means and even fewer are willing to sacrifice and fight for it. America is a nation of slaves so doped up on the government's propaganda machine and the sheer ignorance of their tunnel-vision view of the world (there is only America and nothing else and noone matters), they actually believe they are free.

I completely agree with both comments and will subscribe to your newsletter. This site is full of great investment ideas as well as commentary on the economy. Usually, I only have time to follow a few blogs such as Tradermark's fundmymutualfund,which is how I arrived at your site BTW. Great job.

So while congress was busy investigating things like steroids in baseball, Graham/leach/blyley was passed which was after Robert Rubin helped tear apart Glass/Steagall only to go and get a job at Citigroup making 200 million dollars by tanking the entire financial system and Citigroup. Why aren't people marching on Washington demanding someone"s ass. We are all sheep among wolves.

LOL. Exactly. Who cares about steroids compared with the other problems we have? Every year the media focuses on a few issues, yet Congress passes hundreds of pieces of legislation. There are people in the know, and then there are the sheeple.

Dean:

"Free Market"? Are you serious? If the veil hasn't been lifted from your eyes over the past year, you're head is in a warm moist place too....in a free market, the companies who should have failed would have done so, the assets would have went from the imcompetent to the competent....that is NOT what happened. Everyone has a right to be quite angry not that these same incompetents are paying themselves billions of dollars in bonuses again....that's not class envy or populism, it's simply an outright expression of anger at how crooked out government, and banks have become.

1. "So if they ” line their pockets ” in an honest, transparent way providing a service that others are willing to pay for in a legal, ethical manner – what is the problem ?"

Ummmmmmm, Frank.... That's precisely the opposite of what has happened.... Ethicless, moraless criminals making bets that they should have never made while putting massive amounts of people out of jobs and their homes... Then using our hard-earned tax dollars, at zero interest rates to make even more of the same risky bets in order to fill their balance sheets with paper profit and using screwy accounting while the rest of the country suffers more and more. Call me a true capitalist and a believer in true democracy but ones does not make risky bets in the financial markets or any other markets for that matter using tax-payer money, especially when these same morons were the ones that nearly caused the global ecomomy to tank. If you think all of this is legal, transparent, and ethical, you must have your head shoved up your ass... Or you're one of them and quite obviously are incapable of an ojective analysis.
By your post, you wouldn't know what free markets mean if it hit you square in the face. True free markets allow the weaker companies to die off and face the consequences of their bad decisions and healthy companies to thrive and profit from their wise decisions... The Federal government just turned this most basic and crucial of a free market principle on its head. I think it is you who really needs to take Econ 101 and read up on what a real free market really is.

2. "If you have read anything about these guys , you would see they have been talking about the fraud and abuse of the system and potential solutions."

Ever heard of "talk is cheap"? They've been talking for over a year now without ever having any real intent in bringing those responsible to justice and implementing new, meaningful regulations. All of this talk is nothing more than a smoke screen to appease the public with empty rhetoric while doing absolutely nothing of tangible value. Typical political BS and scummy PR move. I can talk about wanting to be a billionaire until I am blue in the face but does that make it so?

Nice passion, James. Thanks for your thoughtful comment!

Hey Dean - you sound like an insightful, fully informed idiot. If you have read anything about these guys , you would see they have been talking about the fraud and abuse of the system and potential solutions. Since when did it become a sin to desire to make a lot of money ? That used to be a good thing in this country. Most Americans aspire to do just that. The populism and class envy that has become so prevalent in our society is remarkable. Hard work, dedication, and a desire to succeed and dream are admirable qualities and should be applauded , not met with sarcasm and cynicism. So if they " line their pockets " in an honest, transparent way providing a service that others are willing to pay for in a legal, ethical manner - what is the problem ? I suggest you take an econ 101 class and learn about the free market. Hey Damien - your site is awesome and I find your insight and information invaluable - keep it up ! Kudos on your Rubini work and the recommendation of Chris Walen - you are spot on in your information.

Frank,

Thanks for the awesome comment! However, I know Dean and I think he was talking about the crooks who stole our money and not me or WSCS ;) But I can see how you thought that. Regardless, your comment was much appreciated! We work hard every day for people like you. Thanks!!

it's a good strategy to scare people of the fake "enemy" while you are emptying their pockets... funny part is at the end of year you will get big bonuses as well while people are waiting in line to buy food!!!