"Treason" is a bit hyperbolic. Futures are governed a bit differently around MNPI versus equities - based on CFTC rules. If the MNPI was obtained through a duty breach then it still "might" be illegal. Most futures MNPI enforcements have been around energy data or FOMC announcements. But its usually noticed due to consistent, repeated patterns. A one-off event like this, while egregious, is probably not going to be chased. Not saying thats right... I am just saying the grift will continue...
He's running laps while the ship is moving. The little circles is him backtracking against the direction of the ship. It seems to me the ship is just going in a straight line.
> being listed on public exchanges is not a requirement
it used to be raise money. now that money is done privately. the result exacerbates the gap between private and public markets and ultimately between rich and poor. Private market participation is usually for accredited investors where you need $1m net worth.
Public markets are one of the best ways to create wealth in the US, if the historical record is any hint about the future. Fewer public companies gives regular investors less choice. So if you're a private company and you have 1/2 as many reports to file each year, well now you have a slightly less onerous reporting regime and slightly tilts in favor of going public.
What in heavens gave you that idea?
A well developed public stock market is such a new (and American thing) and it still makes up a small amount of the capital raised by businesses.
Even within large public companies, there's significant use of bank/private debt.
Claude Code built a TUI for me last night, in this case to step through nanosecond timestamped ITCH market data messages and rebuild an order book visual in the terminal. This type of stuff would have taken a day - but done in 5 minutes now.
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