CNBC has always been nothing more than a mouthpiece of Wall Street.
So after Michael Lewis and Brad Katsuyama had the temerity of going on 60 Minutes and announcing that the markets were obviously rigged, Wall Street had to respond.
"No one has been a bigger beneficiary of high-frequency trading than the so-called little guy."Wall Street spent hundreds of millions of dollars setting up these high-frequency trading systems so that YOU, Joe Average, could benefit! They did all this out of the kindness of their hearts.
Most importantly, it's important to note that high-frequency trading is "not skimming".
Please take the blue pill before watching this. Thank you.
I think we are all guilty of not fully appreciating just how much of a bubble that Wall Street traders have put themselves into.
Of course eventually CNBC had to give Michael Lewis a chance of explaining the situation.
"Are you really under the illusion that the individual investor trusts Wall Street... the financial crisis wiped out any residue of trust for Wall Street even if they ever had it."
I love it when Brad Katsuyama calls out the Wall Street shill in this last video.
"I believe the markets are rigged.. and that you are a part of the rigging...you wanna do this, let's do this!"