Max Keiser: Big Banks Allocate Losing Trades to Clients, Keep Winning Trades for Themselves

[Rajiv]

Max Keiser - journalist, former Wall Street broker and options trader, and inventor of the software which is now being used for high frequency trading - claims that the big banks retroactively allocate losing trades to their clients, and keep the winning trades for their own proprietary trading desks

This is the second time in the couple of weeks that Keiser has made this allegation. When he first brought this up, Keiser said that he has first-hand knowledge of this unlawful activity because - when he was a trader - he and everyone else did the same thing.

[Shakespear]

Re: Max Keiser: Big Banks Allocate Losing Trades to Clients, Keep Winning Trades for Themselves

Keiser sounds like he knows what he is talking about but I never liked listening to him. He projects Madness and Dishonesty :-)

[marvenger]

Re: Max Keiser: Big Banks Allocate Losing Trades to Clients, Keep Winning Trades for Themselves

he's projecting the real world

[Rajiv]

Re: Max Keiser: Big Banks Allocate Losing Trades to Clients, Keep Winning Trades for Themselves

Max has always been a bit of a madcap even when he had a highschool TV show

for example see

[cjppjc]

Re: Max Keiser: Big Banks Allocate Losing Trades to Clients, Keep Winning Trades for Themselves

This has always happened. It happened in the 60's when things were done in pencil and pen. Good trades were given to prefered clients, the losers to smaller clients.

[sunskyfan]

Re: Max Keiser: Big Banks Allocate Losing Trades to Clients, Keep Winning Trades for Themselves

As my ol'man always says ... if you can get someone to eat a spoon full of shit ... you can get them to eat a barrel full ... I think Max is right on with his characterizations ....