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
So were watching that closely. Take a look at the tenyear note yield, which this morning is down to 249, below 250. Well talk about that as well today. As for europe, heres how the picture is setting up. Mostly red on the board for the most part except for spain is in the green, one of the few bright spots over there. Our road map starts this morning with amazon shares, down sharply premarket after posting a wider than expected loss, while continuing to spend on new products and technology. Starbucks beating the street. A live and exclusive interview with Ceo Howard Schultz coming up. In another exclusive interview with cnbc, president obama weighing in on Companies Looking to cut their tax bills with overseas deals. And visa falling premarket. Were going to explain why. How about amazon . Reporting a much wider than expected Second Quarter loss of 27 cents a share. This as the Company Continues to spend on new services, technology and products. Amazon predicting further losses in the
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
Many are not voting at all. The to live the american gene. Thatck santorum argues they have been abandoned by both parties. Part of the tv this weekend. A new history of the great depression. Join others to discuss this. This week a subcommittee held a hearing to discuss highfrequency trading practices and u. S. Stock market. The witnesses included the and aent and ceo of iex number of executives and u. S. Exchanges. The entire hearing is just under three hours. Good morning, everybody. U. S. Americans image of the stock market is shaped by a single room, the Trading Floor of the u. S. Stock exchange where Traders Await a ceremonial bell to pick up the days activity and then trade shares worth millions of scraps of paper. In reality, most are traded not but florida manhattan computer servers in new jersey. Happens in the milliseconds it takes for in order to travel through the cable. Increasingly, comes from not thoroughly obsessing. There are unfathomable speeds, earning billions up r