Love or hate him, Cramer knows how to drive a point home in such an entertaining way that there are only two outcomes of his tirade- either his opponents look stupid or he does. This time he comes down on the Securities and Exchange Commission’s (SEC) flash trading crackdown, and makes a lot of sense.
Why the sudden interest in flash trading when the SEC continues to overlook so many much larger problems? It might be better to prioritise their righteousness and go after far worse problems first.
- “Now we see what can make the SEC get off its collective duff… they jumping jacked and grand mastered to deal with flash”
- “I have seen the individual investor abused nine ways to sunday… front-running?… seen it happen… and prayed the SEC would take action”
- “I have seen the SEC bless products such like any of the ultra-ETF travesties out there that abuse individual investors…”
- “This is the SEC who just gave Bank of America a $33m slap on the wrist, of course to be paid by the shareholders, for hiding $3.6 billion in bonuses.”