That’s exactly what it is. My understanding is that Blackrock built a city sized computer somewhere like Alaska and created high frequency trading and basically runs Nasdaq and and NYSE’s software backbones.
So black rock and vanguard sell stocks to each other, back and forth, thousands of shares ping ponging 100’s of times a second, each bid a penny higher than the last— or lower—
It’s so rigged, but like with Madoff, the only thing the regulators can do is look away.
That’s exactly what it is. My understanding is that Blackrock built a city sized computer somewhere like Alaska and created high frequency trading and basically runs Nasdaq and and NYSE’s software backbones. So black rock and vanguard sell stocks to each other, back and forth, thousands of shares ping ponging 100’s of times a second, each bid a penny higher than the last— or lower— It’s so rigged, but like with Madoff, the only thing the regulators can do is look away.