It is hard for me as someone who worked in the market for 31 years to understand how any trades can be broken arbitrarily by an exchange.
Jim Bunning
The Public Record
Jim Bunning is a former United States Senator from Kentucky, serving from 1999 to 2011. A member of the Republican Party, Bunning was known for his strong conservative positions and advocacy for fiscal responsibility. Before his political career, he was a professional baseball player, notably a pitcher in Major League Baseball, where he was inducted into the Baseball Hall of Fame in 1987. Bunning's tenure in the Senate included a focus on issues such as energy policy and workers' compensation reform, often criticizing the Department of Energy's handling of compensation programs for workers.
Significant price drops in exchange-traded funds, as was mentioned by Senator Bunning.
That is why I think it is critical for the Commission to complete the market structure study and not let other matters sidetrack it.
I happened to be watching the market very closely when this was going on, and I watched a stock called Procter & Gamble at $61 a share and then the next trade was at $37 and the next trade was at $39.
Why do you think we saw a more severe move in exchange-traded funds than in the underlying stocks? Should investors be worried that these products are not as reliable as everyone thinks they are?
Where is the market maker in Procter & Gamble? Where was the liquidity in the market maker?
Does it concern you that the only way to prop up the housing market is to put the taxpayer on the hook?
Some disturbing news just was released at 8:30 this morning that new claims for unemployment went up 28,000 from last week to 478,000.
I listened to Chairman Bernanke's assessment of the economy in the speech he made yesterday, and he was pretty optimistic.