Michael Lewis: Iconic U.S. Stock Market Is Rigged

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March 31 (Bloomberg) -- Bloomberg Television’s “Lunch Money” Host Adam Johnson takes a look at the accusation that the U.S. stock market is rigged. (Source: Bloomberg)

Right at home in wisconsin.

In sports, a mari means business.

We will talk about his ambitions off the court.

We will talk about -- we will kick it off with what everyone is talking about.

The stock market is rigged.

The most iconic market in global capitalism is rigged by whom?

By a combination of stock exchanges, the big wall street banks and high-frequency traders.

That was michael lewis, nonfiction author on "60 minutes" last night.

You've probably heard about his books as of experience as a bond trader and baseball.

Most recently, "the big short" about the housing and credit bubbles of the 2000. now he has a new book called "flash boys -- a wall street revolt." it's about flash trading in the high-speed algorithmic strategies.

Here he is once again.

Insiders are able to move faster than you, able to see your order and play it against other orders and ways you don't understand.

They are able to front run your order.

What you mean front run?

They are able to identify your desire to buy shares in microsoft and buy them in front of you and sell them back to you at a higher price.

It all happens in infinitesimally small periods of time.

The speed advantage the faster traders have is milliseconds.

Fractions of milliseconds.

But it is enough for them to identify what you want to do and do it before you do it at your expense will stop -- at your expense.

He's not alone in his analysis.

We decided to ask some people what they thought of his comments, including this man.

High-frequency trading of securities is good.

Produces liquidity.

Frontrunning the market is bad.

Rex that was the new york attorney general.

Two weeks ago he said he's looking into the conduct of high-frequency traders and the stock exchanges that work with them.

He spoke with "market makers" crew this morning.

The game has gotten very complicated.

The sec is looking into this and commissioner spoke up pretty

This text has been automatically generated. It may not be 100% accurate.


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