Today was probably an anomaly brought on my extreme fear. Why do lawmakers have to get involved and bring out their pens to create “tighter trading controls”. I get so tired of hearing this sort of garbage. No matter how hard they try they will never be able to stop incidents like today.
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NEW YORK (MarketWatch) — Securities and futures regulators said late Thursday they were working with exchanges to examine “unusual” trading activity during the day’s massive sell-off, which saw bellwethers such as Procter & Gamble Co. plunge nearly 40%, and prompted a senator to call for tighter trading controls.
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| “Any action, whether erroneous or not, will likely raise the outcry against high-frequency trading and more than likely accelerate the momentum driving financial reform stateside and worldwide,” said John Stoltzfus, analyst at Ticonderoga Securities, in a note. |
| Sen. Ted Kaufman, a Democrat from Delaware, said the stock market’s plunge on Thursday “must be carefully reviewed and placed within a meaningful regulatory framework soon.” |
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