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Opinion >  Letters

Fat cats trade after hours

The Spokesman-Review

I guess I’m confused. Why is it that those of us doing our own trading on Wall Street do it during regular hours? We know we are betting against the house by not cheating after hours.

Some culprits control stock prices, betting huge amounts of cash when the markets are closed. We should demand after-hours trading be stopped. If the SEC wanted to guard against price fixing they could do it. However, they are known to look the other way re: the Madoffs of the world.

I observe some huge transactions by fat cats, trading when the markets are closed. The money managers, trading in the tens of millions daily, are usually gambling with somebody else’s money. A few fat cats use their own money, but bet big time. I call these people the “money bullies.” Many of them use the “golden rule,” i.e., those with the gold will rule.

Anyone observing these bullies, who take advantage of looking at the day’s trading numbers before betting, is almost like cheating. The peons have gone home. Back the next day, again gambling at the world’s largest casino, Wall Street.

I don’t use crooked bankers, spending only $7 per transaction.

Dick Adams

Spokane


 

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