Friday, January 22, 2021

Tag: As Markets Plunged in March

As Markets Plunged in March, Dark Pools Upped their Trading in JPMorgan’s Stock

by Pam Martens and Russ Martens, Wall St On Parade:

When the history books of this era are finally written, this will go down as a time when regulators allowed a no-law zone to be drawn around Wall Street. As the Federal Reserve Bank of New York is using taxpayer money to buy up junk bonds to shore up the sagging balance sheets of the behemoth banks on Wall Street and making ¼ of one percent interest loans to those banks against tanking stocks as collateral, those same Wall Street banks are trading their own bank’s stock in their own thinly-regulated internal stock exchanges known as Dark Pools.

It simply can’t get any crazier than this — and yet somehow it always does in this unprecedented era.