Where is the outrage?

LIBOR scandal??

That's one of them. I can think of at least 5 or 6 more off the top of my head.

I know what you are talking about and yes, I am outraged!  The media does not seem to want to give this much attention, Obama wants it to just go away (it's been over 3-years and no-one has been indicted).  I don't expect Romney will do anymore if he is elected...but Obama has lost my vote and his lack of action with then banking corruption under his watch is a big reason.

The Fed is a joke and Berneke will be the Fed Chair to go down in history for ruining the dollar.  I also am surprised that this subject does not get more attention on COJ.  Maybe people think that fraudulent loans and bogus investments sold by these crooked financial insitutions does not effect them because they personnaly did not acquire a bad load or derivative.  But it screwed us all...and the banks seem to be untouchable! 

We still haven't even gotten to PFG, MFG or Knight Capital yet.

yep. The only mainstream source I've really read much of anything about this on is bloomberg. I read a few more out there economic/financial blogs as well and they are doing massive coverage of this every day. I thought of another scandal since my last post!

FINRA

http://www.bloomberg.com/news/2012-07-29/wall-street-s-kangaroo-court-gets-a-black-eye.html

Knight was clearly not trying to lose $440 MM.  And with the amount of shares and data being traded, you must automate.  Those automations are going to occasionally go haywire and crash some systems.

I'm suspicious about the Libor issue and our low rates and the people making these decisions.  It definitely seems like they're setting this up to fall when the new guy gets in the chair.  Reminds me of that Jim Carey Movie where he gets promoted so he can take the fall.

ATM fees!

Are those the things where you get "cash" from? I haven't seen actual cash in quite some time.

Are those the things where you get "cash" from? I haven't seen actual cash in quite some time.

because we have a fiat currency, does it matter?  (i mean, outside of the crime of whoever stole it)

While I think it is obvious the Knight was not trying to ruin their own company, why is the HFT allowed in the first place? Yesterday wasn't as bad as the flash crash but it's obvious that this has the potential to ruin the market in no time at all. There is no reason any firm should be allowed to send out 1000 orders per second only to cancel them immediately before they are placed just to try and earn that $.0001. The TV analysts always wonder why the mom & pop investors have been pulling their money out of the markets ever since 2008. Gee you think this has anything to do with it?

Very good point about the small investor shops.  $0.0001 on $400 Million is only $40K, but spread-across the level you need to truly afect the market, say $14 Billion is $1.4 Million.  That's real money at that point. 

Then again, if you have a few Million in your hands, you can do a lot of things that would make you more $100Ks.  Like open a Chic-Fil-A...

Look at PFG and MFG. JPM will probably just steal our accounts and claim they have no knowledge of it.