Wednesday, May 12, 2010

The heads of the SEC and CFTC both said this afternoon that there was no clear catalyst behind last Thurs’ market plunge and that they are continuing to investigate the event (related to this, Rep Sherman was on the tape late this afternoon saying that he thinks HFTs should be subjected to a small tax to “dissuade recklessness” while B Frank wants to explore compensating people who lost money on broken trades).

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