I think we are in perpendicular agreement. I agree with your statement. I also believe that the system as it is currently regulated, implemented and used is based on a system that is actively working to protect itself and its advantage and that the actions taken by wall street to get/maintain/hide the data/advantage they have is what is illegal.

I am not saying that using or having a better position of data or information is wrong or illegal. I am saying that how they got there in the first place, and what they have done to ensure its perpetuity for them is what is illegal/wrong/exploitative and abused.

The worst criminals of the bunch are those in supposed positions of regulatory authority that are really there to protect the interests of big money.

This includes GS employees setup as Obama's economic advisory.

(Note: often people make the mistake of saying "well do you expect him not to hire/appoint people with intimate knowledge of how the financial system works?" -- No, I expect him to hire/appoint people with express knowledge of how the system works and how it is exploited and abused so that they can identify and go after criminal fraudulent activity.

When you hire/appoint those BENEFITING from the actions of the industry - it protects the criminal/exploitative activity!)

In theory, Wall Street should accrue value in two forms: as a tax for the liquidity they provide, and as compensation for the risk they take. It used to be that the investment banks were mainly middle-men, but increasingly they've also become essentially government-backed hedge funds. Unfortunately, they can use their position as middlemen to extra value from Main Street. Finance should not be like 10% of your GDP, unless you're Switzerland or another country that "exports" banking services. It doesn't produce value itself, it's just a tax on the rest of your economy necessary to ensure the availability of capital.

POI: the liquidity fee is the same as the risk compensation. They take the risk of the price moving before they can unload the stock.

Because for Wall Street to succeed, Main Street must fail? Why would Main Street transact with them at all if that were the case?

> Why would Main Street transact with them at all if that were the case?

Because we force them to, through 401k's and the like.

What specific law are you referring to that forces Main Street to invest in 401Ks?

The tax code, mainly (and remember attempts to privatize social security?). Not overt force, no, but intended to skew behavior certainly.

401k doesn't force you into wall street. You can buy govt securities or money market, unless your employer is awful.