Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Thursday, July 7, 2011

Dylan Ratigan Gives Wall Street The Big Finger

Tyler Durden of Zero Hedge:

..the former Fast Money lead man is actually pretty spot on. And for all you retail investors who think this market is anything but a two-tiered playground built now exclusively for Wall Street to fleece you every single day, our advice is to get the hell out. Everyone else already is... Except of course for the banks and the various 3-3,000 man quant operations, which are the only market participants left. We hope they cannibalize whatever is left of each other and blow themselves all up in the process. Whatever is left will have infinitely more credibility than the busted mockery of capital markets we have now.

Please remember that both Durden and Ratigan are (heaven help them) committed capitalists, true believers. Their appraisal may seem like hyperbole, but try telling that to the people being clubbed over the head by police in the streets of Athens.

[Quants are people who use esoteric mathematical models to analyze markets and trade therein.]

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