Expense of their clients. We have assigned artificially high ratings of securities in order to keep the business. Now with that history in mind, those that argue that the conflicts that we will explore in this hearing are manageable are acceptable have a mighty high burden of proof which seems to the average investor to be a simple stock market traders usually a complicated series of transactions involving multiple parties, complex technology and the everincreasing number of border types and payment arrangements. There are retail brokers like the ones found in the main street offices across the country and on tv advertisements. There are wholesale brokers who buy orders from the retail brokers come and there are dozens of trading venues where the shares are bought and sold. The party making the decision should be influenced by the best interest of the investor. That is what ethics demand and what the law requires. But there is another factor in play. At both decisions points, the curre
The truth, so help you got . We will be using a timing system today. Please be aware that one minute before the red light comes on, you will see the light change from green to yellow, giving you an opportunity to conclude your remarks. All of your written testimony will be printed in the record in its entirety and we would ask that you try to limit your oral testimony to five minutes. Professor battalio, we will have you go first. Thank you again for your work. Good morning, chairman levin and Ranking Member mccain. Thank you for inviting me to testify today. Its an honor to have the opportunity to present my views on conflicts of interest. In u. S. Equity markets to the Senate Permanent subcommittee on investigations. My expertise is the relationship between order flow inducements offered by dealers and exchanges and the quality of trade execution. Before discussing my Current Research with shane coreland and Robert Jennings id like to provide a bit of context. Orders used by retailer
Testimony. All witnesses who testify before this subcommittee are required to be sworn. At this time i would both of you to please stand and raise your right hand. Do you swear that the testimony youre about to give before this subcommittee will be the truth, the whole truth, and nothing but the truth, so help you got . We will be using a timing system today. Please be aware that one minute before the red light comes on, you will see the light change from green to yellow, giving you an opportunity to conclude your remarks. All of your written testimony will be printed in the record in its entirety and we would ask that you try to limit your oral testimony to five minutes. Professor battalio, we will have you go first. Thank you again for your work. Good morning chairman levin and Ranking Member mccain. Thank you for inviting me to testify today. Its an honor to have the opportunity to present my views on conflicts of interest. In u. S. Equity markets to the Senate Permanent subcommitte
Housing recovery is very much alive or as is more likely that buyers are racing to close deals before Interest Rates and Mortgage Rates go higher. So it looks good, but the velocity has slowed down. People question as all the time. As the guest from the last hour said, is slow but steady recovery. Finally, a major bank stocks moving higher late in part by a late breaking reports that j. P. Morgan could be ready to pay about 3 billion the settle claims with the government that it misled investors about mortgage practices. In the meantime, as an of financial and goldman both came out with notes today saying that big banks appear adequately prepared for the next round of stopgaps that will be given up by the bank. A lot of headlines for the banks at the moment, but look at how theyre moving today. Now to a retailer feeling stress. J. C. Penney shares tanking to a 13year low. What happened . Well, goldman once again weighing in warning that the retailers sales will improve, but more slowly
Im richard lui in for craig melvin on this saturday. We know who he was and how he did it. But why did 23yearold paul ciancia open fire in one of the busiest airports in the world . Obama care is a classic example of what people are tired of. Theyre tired of politicians like the president making promises that they cant keep. In the hot seat, the Obama Administration is promising to fix the befuddled health care website. Now the ceo of the first private Insurance Exchange is offering to help. Well talk to him ahead. A Community Calls for justice in Northern California after a 13yearold carrying a toy gun is shot and killed by a police deputy. Was his race a factor there . Well talk to a civil rights leader whos joining the call. And later, hiphop, humor and public health. Its todays big idea. Were going to start in the west where travelers at Los Angeles International airport are seeing an increased security presence today. It could be days before the airport returns to normal after fri