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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: ---------- who wrote (293)4/9/1997 5:08:00 PM
From: Terry D   of 308
 
To all -
Good thread. I sent CNBC an email question when they had Meyer Berman (what a piece of work) and some SOES slam head yelling at each other. It sounds like hcmz3 is a MM, which is fine. My background is 15 years on buy side and agency desks. Let me tell ya - nobody is clean in this biz. MM tell you "I am not the call" or put you on perma hold while they adjust their markets. The SOES bandits suck and are subverting a market to their advantage - that is they are CAPITALISTS.
Jeez - it all comes down to this - who gets the MONEY? Do the SOES capture the spread or does the MM? Either way, we ain't getting it.
Future topics for outrage - payment for order flow, listed stocks traded away from the primary market, marking up or down stocks on the close of quarters, fund managers designating up trades to their personal accounts. DON'T GET ME STARTED.
Good Luck - td
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