Former SEC Director Admits The Truth: The Market Is RiggedFor more than a decade, John Ramsay kept his mouth shut about how rigged the US equity

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For more than a decade, John Ramsay kept his mouth shut about how rigged the US equity market was.

As SEC Director of Trading & Markets, Ramsay tells Bloomberg her “had red tape over his mouth,” but now he is “uncorked.”

“I’ve been able to find my voice on these issues in a way I couldn’t have done when I was in the government, because you’re always limited by internal politics and not wanting to get too far out in front of the agency,” he said. “I feel like I’ve been a little bit uncorked.”

Having joined Brad Katayama’s IEX Group (infamous for the Flash Boys’ exposure), Ramsay is calling out the “convoluted” and “illogical” pricing rules of major stock exchanges and compared the $25 trillion U.S. stock market’s structure to the Death Star of “Star Wars.”

It will be hard for current regulators to shrug off Ramsay’s comments,

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Last Edited by LJS on 01/09/2016 06:03 PM