The Silence on Wall Street’s Dark Pools Is Deafening

By Pam Martens: January 21, 2019 ~ It is destined to go down as one of the greatest journalistic and regulatory failures of our time – the lack of serious attention by investigative business reporters and the U.S. Department of Justice to the glaring fact that the largest Wall Street banks continue to trade their own and each other’s bank stocks in their own Dark Pools. Dark Pools function as unregulated stock exchanges inside the bowels of the largest Wall Street banks. Making the situation even more dicey, some of the big banks own more than one Dark Pool, raising the possibility that there could be cross-trading between those pools to artificially inflate or depress stock prices. JPMorgan Chase owns two Dark Pools; Citigroup currently owns at least two although it owned a lot more in the past; Morgan Stanley owns three; and then there is the Dark Pool that … Continue reading

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