Some interesting thoughts by Mark Cuban on the SEC’s approach to high frequency trading and insider trading.
Got to love Mary Jo White, the Chairwoman of the SEC. While Michael Lewis’s book Flash Boys was getting all the headlines and was the topic of some of the best television on CNBC, ever, Ms White used the firestorm to ask for more money for the SEC.
Shocking ? The only shock would be if she didn’t use any occasion the SEC was in the public eye to ask for more money. It is unfortunate because there is no greater waste of money than what the SEC spends trying to enforce insider trading laws.
Let me give you some examples of just how poorly the SEC manages our tax dollars when it comes to insider trading:
1. Did you hear the one about Gary and Clif of the Florida East Coast Railroad ? Gary and Clif noticed that there were a lot of tours of the company…
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