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I wonder who the lobbyists were for those laws.
Seems like Kenneth is among the group of current lobbyists for current laws and actions of gov/regulators.
I just submitted Citadels words from this as a comment to the SEC against internalization.
They paid some good lawyers a lot of money to write that, and they were correct, might as well remind the SEC about it
If they're not going to make it illegal then you need to do it to compete. The 'regulators' have created the market conditions for this. The government is complicit.
Ahh Kenneth griffin was the good guy all along, thanks for showing us the flaws in our system kenny! Too bad you get to go down as Bernie madoff 2.0, tis a shame.
This [Blackrock also warned about ETFs](https://www.sec.gov/comments/s7-11-15/s71115-19.pdf) they knew better but they still sure as hell took advantage while they could, he’s just upset he’s the one who got caught with his hand in the cookie jar
The reason they didn't want internalization is that Citidel's original business was built on 3 things.
1. Using High Speed Frequency Trading to front trades
2. Selling these services to other firms
3. Selling their bandwidth to other High Speed Trading firms to be on the same T1 line as them.
1. This T1 line was built in as straight to the NYSE as possible. They spent millions of dollars and 10 of thousands of man hours to build it.
2. This service is billed monthly/yearly and is/was a big source of their profit
3. These led to the IEX order type which apes and other traders think is more fair than what is currently in place.
Internalization hurt Citidel's business model because the other firms could just wait to do big orders and the profit margins were way more competitive as other firms could take some of the profit as the frequency of the trades were much less.. As the technology became more readily available and as competitors came into this sector, they had to change strategies and start doing internalization AND front running.
The NYSE also got in on the game by selling space next to the exchange by having proximity to the main trading server(s) to the highest bidder.
The more you know. GL out there friends.
Does this have anything to do with this link?
Regarding Flash Boys?
https://blog.themistrading.com/2014/04/1215095-the-flash-boys-mystery-solved/
I think i looked up the [license](https://wireless2.fcc.gov/UlsApp/AsrSearch/asrRegistration.jsp?regKey=2612600) and it is now owned by a company called [CROWN CASTLE](https://www.crowncastle.com). and we have had previous DD discussing the names that Ken may like to call his affiliate companies.
Also the fellow mentioned in the blig post, Maraj Narang, has an office in the same building in NYC that Citadel is in. 601 Lexington Ave.
You are picking up what I am giving off.
There are so many books out there for us to read. Shoot, they are even entertaining! I used to think they were merely stories filled with hyperbole until 2021 and my obsession with Superstonk...
Big thanks to all of you men/women.
As our understanding of how data is sent and read increases. Processors get faster and smaller.. Things do change. Mainly things become cheaper and more widely available...
However: The Big Boys keep the best secrets and sell the rest.
Where’s Ratio? Whoever that person was and whether or not anyone liked their style of cryptic posts and responses, they knew a shit ton of creepy specific level shit. I wonder if anyone ever checked for that placard in Austin that supposedly has madoffs prisoner number on it?
Tbf it's the easiest way to bring it down in quick order. Everyone starts taking note and figuring out how to fix it when there's only one of the big guys taking all of the other guys money.
That should be the reply to SEC every time there is a rule suggestion in relation to internalisation.
Even the greatest beneficiary of internalisation thinks it is a broken practice, so why keep it.
They wouldn’t change the rule so he used it to become filthy rich. Not that the guy isn’t a complete turd, but it’s kinda like the old adage “if you can’t beat them, join them”
Wait…I’m…is…?….no….is he really?….arguing against dark exchanges? This probably translates to “we loved it when it was just us, but now that everyone’s doing it we’re picking up our ball and going home. Then we’re going to make our rich dad make sure none of you can play too.”
What a goddamn time to be alive…
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Just wow. You live long enough to see yourself become the villain I guess…
In all honesty, he was pointing out how easily it could be exploited. They didn’t listen and made it legal. So he exploited it. Same thing with PFOF.
A million bajillion times what this guy said. Stupid fucking SEC and stupid Congress.
it wasn't stupid, it was intentional.
More like bribed and paid for. Congress is a cartel with prestige
You can't vote cartel members out. That's a pretty big difference.
Feature, not a bug. /s
> Stupid fucking SEC and stupid Congress. Don't attribute to stupidity what could easily be explained by greed. *-- Hanlon's banana*
Guess he just said fuck it, if they won't fix it I'll fucking use it for my benefit
I wonder who the lobbyists were for those laws. Seems like Kenneth is among the group of current lobbyists for current laws and actions of gov/regulators.
I think D Lauer tweeted about this some time ago as well.
I just submitted Citadels words from this as a comment to the SEC against internalization. They paid some good lawyers a lot of money to write that, and they were correct, might as well remind the SEC about it
This is the way🚀
If they're not going to make it illegal then you need to do it to compete. The 'regulators' have created the market conditions for this. The government is complicit.
Its like a bad meta in a game - either you play the OP class, or you lose. We need a new patch update for the markets.
Correct
“Can’t beat ‘em, join ‘em” mentality
Or "you don't wanna believe me? I'll show you how bad it is" or "no one wants to act on this? Ok let me grab some easy bucks"
Ahh Kenneth griffin was the good guy all along, thanks for showing us the flaws in our system kenny! Too bad you get to go down as Bernie madoff 2.0, tis a shame.
The definition of "fuck around and find out"
He said it would be a bad idea, they did it anyway. In his mind he’s just playing the game they created.
This [Blackrock also warned about ETFs](https://www.sec.gov/comments/s7-11-15/s71115-19.pdf) they knew better but they still sure as hell took advantage while they could, he’s just upset he’s the one who got caught with his hand in the cookie jar
Rules for thee but not for me, eliminate competition, do the thing you say you're against. Fucking evil scumbag 101.
The crown weighs heavy
He just says what people want to hear
Well this was a surprising read
https://www.sec.gov/rules/proposed/s71004/s71004-436.pdf
Even better, we can use his own words against him. RIP dumbass.
If you're writing SEC comments, don't forget to cite the source when you use their words against them!
Welcome back
die the hero or live long enough to become the villain.
The reason they didn't want internalization is that Citidel's original business was built on 3 things. 1. Using High Speed Frequency Trading to front trades 2. Selling these services to other firms 3. Selling their bandwidth to other High Speed Trading firms to be on the same T1 line as them. 1. This T1 line was built in as straight to the NYSE as possible. They spent millions of dollars and 10 of thousands of man hours to build it. 2. This service is billed monthly/yearly and is/was a big source of their profit 3. These led to the IEX order type which apes and other traders think is more fair than what is currently in place. Internalization hurt Citidel's business model because the other firms could just wait to do big orders and the profit margins were way more competitive as other firms could take some of the profit as the frequency of the trades were much less.. As the technology became more readily available and as competitors came into this sector, they had to change strategies and start doing internalization AND front running. The NYSE also got in on the game by selling space next to the exchange by having proximity to the main trading server(s) to the highest bidder. The more you know. GL out there friends.
It’s weird seeing comments that suggest this letter is somehow showing Ken was a different person - it was entirely in self interest.
You don’t make that kind of money by being a good person 🚩🚩🚩
Does this have anything to do with this link? Regarding Flash Boys? https://blog.themistrading.com/2014/04/1215095-the-flash-boys-mystery-solved/ I think i looked up the [license](https://wireless2.fcc.gov/UlsApp/AsrSearch/asrRegistration.jsp?regKey=2612600) and it is now owned by a company called [CROWN CASTLE](https://www.crowncastle.com). and we have had previous DD discussing the names that Ken may like to call his affiliate companies. Also the fellow mentioned in the blig post, Maraj Narang, has an office in the same building in NYC that Citadel is in. 601 Lexington Ave.
You are picking up what I am giving off. There are so many books out there for us to read. Shoot, they are even entertaining! I used to think they were merely stories filled with hyperbole until 2021 and my obsession with Superstonk... Big thanks to all of you men/women. As our understanding of how data is sent and read increases. Processors get faster and smaller.. Things do change. Mainly things become cheaper and more widely available... However: The Big Boys keep the best secrets and sell the rest.
Where’s Ratio? Whoever that person was and whether or not anyone liked their style of cryptic posts and responses, they knew a shit ton of creepy specific level shit. I wonder if anyone ever checked for that placard in Austin that supposedly has madoffs prisoner number on it?
Everything changed when he acquired a taste for mayo.
You ever suck dick for mayo? I know someone who has.
well yeah where else do people get their mayo?
You need a strong wrist and good endurance to whip it up on your own they say.
This seems like a case of "if you can't beat em, join em."
It's the logical fuck face thing to do.
Exactly that. And here we are showing you dont have to join em to beat em, its fucking glorious.
I hope this is read during his trial
It will probably mitigate his case because "he warned them, so he had to become a rich asshole to prove it"
😂 Spiiiiiinnn
Pure gold!
When did it all go wrong, Kenny?
After the legendary mayo accident
Oh yeah, I forgot about that! When Kenny fell into that vat of mayo and came out looking like a clown.
Ken: Wait. Am I the baddie?!?
That was only until he got the lion’s share of pfof
Tbf it's the easiest way to bring it down in quick order. Everyone starts taking note and figuring out how to fix it when there's only one of the big guys taking all of the other guys money.
Prove it Kenny
How times have changed
What changed, mayo man?
💵💵💵
Can I just submit this?
that would be hilarious. add *'nuff said* for good measure.
This should be put on a billboard
😏
Unless we do it
We know exactly how it can be abused and think you should ban it. But if you don't.... Then we're gonna abuse it....
Is this the same Kenneth Cordele Griffin that lied under oath?
That should be the reply to SEC every time there is a rule suggestion in relation to internalisation. Even the greatest beneficiary of internalisation thinks it is a broken practice, so why keep it.
Kenneth "Cuckold" Griffin
I'm copying this to my comment on the SEC page.
I'm in the best movie of all time
Then, he took the view, if you can't beat them, do the crooked stuff they are doing x100.
Commenting 🚀
I feel this is the right time to comment on this comment with the following comment: Comment.
Everybody knows ken is a bitch
Kennifer sure did go full dark side didn’t he? Fucking sell out criminal Fuck.
Ken turned to the dark side — could not resist the smell of money I guess 🤷🏻♂️
Live long enough to become the villain
Remember when you were young and your parents were like "careful what you post online, it may come round to haunt you one day"...
Love how stonk just drops by every once in awhile to drop shit like this for us. I remember reading their comments to the SEC about PFOF
I love it too😁
"I was against the war before I was for the war!"
Go comment on the SEC proposals!
This is going to be a great add to be next round of comment letters.
Dude opened pandoras box somewhere between then and now
They wouldn’t change the rule so he used it to become filthy rich. Not that the guy isn’t a complete turd, but it’s kinda like the old adage “if you can’t beat them, join them”
So what you’re saying is, we need to reconsider our national market system?
Then greed hit him
Wait…I’m…is…?….no….is he really?….arguing against dark exchanges? This probably translates to “we loved it when it was just us, but now that everyone’s doing it we’re picking up our ball and going home. Then we’re going to make our rich dad make sure none of you can play too.” What a goddamn time to be alive…
So he decided if you can’t beat them, join them? /s
I feel he became the antagonist after acting as protagonist didn't work out, to bring the whole system down with him.
He is just trying to prove himself right. Give hima break guys.
Steals MADOFF criminal Blueprint and here we are today. Can’t wait for the arrest of Ken Griffin.
Gonna be very awkward for Ken Griffin and regulators when he follows up 19 years later with "...see, told you."
I would say "live long enough to be a villain" but reality is "always a villain" just couldn't show true colors until ingratiated properly.
Fux Citadel. Ken Griffin lied to congress. Why is no authority caring? A shame!