by Pam Martens and Russ Martens, Wall St On Parade:
On June 10 of last year, Wall Street On Parade penned this headline: Seven Years after Michael Lewis Described on National TV How the U.S. Stock Market Is Rigged, SEC Chair Gensler Says He’s Going to Tackle Market Structure. Unfortunately for confidence in U.S. markets, that’s yet to happen. And it’s not just the fault of Gensler. The Senate Banking Committee and House Financial Services Committee that should be holding in-depth hearings on the most corrupted market structure since 1929 have opted instead to hold superficial hearings each time something blows up as a result of that corrupted market structure, but never actually get around to tackling the corrupt market structure itself.