Courtesy of Pam Martens.
Senator Mark Warner: Business Media Virtually Blacks Out His Hearing On High Frequency Trading On June 18, 2014
By Pam Martens and Russ Martens: June 19, 2014
Senator Elizabeth Warren at Senate Hearing on High Frequency Trading
Outside of the Washington Times, there was a virtual corporate media blackout on the high frequency trading hearing held yesterday by the Senate Banking Subcommittee on Securities, Insurance and Investment – which came one day after Senator Carl Levin’s hearing on the same topic.
The media blackout did a deep disservice to the brilliant perspectives brought to the table by Senators Elizabeth Warren and Mark Warner and two witnesses who deal every day of their lives with the corrupted and disfigured trading venues the SEC has allowed to evolve in what used to be the most trusted stock market in the world.
On the Senate’s witness panel were Jeffrey Solomon, CEO of Cowen and Company, an investment bank with roots dating to 1918 and Andrew Brooks, Head of U.S. Equity Trading for T. Rowe Price (who has been a trader for 34 years) at a firm which now manages $711.4 billion of the life savings of Americans.
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