The Phaserl


All Eyes Are on Wall Street; And Not in a Good Way

by Pam Martens, Wall Street on Parade:

It’s five years and counting since Wall Street collapsed under the weight of its own corruption, aided and abetted by compromised regulators, and yet, by many measures, the financial system is more vile than it was pre-crisis.

Yesterday, Andrew Brooks, head of U.S. equity trading at mutual fund giant T. Rowe Price, which manages $647 billion in customers’ funds, called the markets “dysfunctional” in an article in the Wall Street Journal. Mentioned elsewhere in the article was the growing unlit marketplace where trades are conducted by more than 40 dark pools away from exchanges or the continuing practice of internalization where the biggest Wall Street firms match their own customers’ buy and sell orders away from the stock exchanges.

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