“So you’ve heard all the stories in the paper, in the news,” said Representative Scott Garrett, a Republican from New Jersey and chairman of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises.
“Can you tell us, Are the markets rigged?” “The markets are not rigged,” said White. “The markets—the U.S. markets are the strongest and most reliable in the world.” Garrett, whose responsibilities include oversight of the SEC, continued to press the matter, however.
He asked White whether the fact that America’s stock exchanges provide high-speed market data (which include the prices of Fortune 500 companies) to top-paying traders ahead of ordinary investors—a practice, he noted, “approved by the SEC”—constitutes “insider trading.” White’s response: “I mean, if—if properly used, no.”
The exchange between Garrett and White in late April was one of many awkward moments arising from what has become America’s great “high-frequency trading” debate, in which the truth is often limited to the eye of the beholder (in many cases, the screaming beholder, judging by some of the recent shouting matches on CNBC).
The Daily Show correspondent Jason Jones reported from India for last night’s show and found that despite a thriving and open newspaper culture, journalistic ethics look entirely different in the world’s largest democracy. “I can just go out and buy a story written about myself?” Jones asked Indian journalist Puja Gupta, around the 3:30 mark. “Yeah,” she replied.
In India, newspapers take the concept of “sponsored content” to the extreme: For a price, anyone can run a fake article or entirely manufactured opinion poll in one of the country’s 93,000 registered newspapers—without any indication that the content was purchased, Jones reported. So that’s what he did.
For $2,500, Jones bought a spot on page two of the Indian newspaper Millennium Post that carried the headline, “Poll Shows US Number A-1 Star Jason Jones Does Best Indian Election Coverage.” It is accompanied by two clearly Photoshopped photos—one with Jones’s head pasted onto a glistening, shirtless, muscled body.
The very-real article ran in the print edition, and it can be seen on the Millennium Post’s website. Anyone who hasn’t seen the Daily Show segment would have no indication that it isn’t a factual article.
At the Bundy camp last week, pundits and politicians descended on Bunkerville, Nevada, to throw in their American flag hats with the BLM protestors. A FOX news van had been parked by the side of the road for days. Up on the ridge, militia snipers kept a trained watch as Bundy held court, and disciples from far and wide came to share their personal theories as to why the government was enforcing a court order.
But on Thursday, we witnessed a mainstream exodus from Bundy’s flank. Sean Hannity, Bundy’s biggest booster, called his racist remarks “beyond despicable,” but maintained that they should not taint the supporters who “for the right reasons saw this case as government overreach.”
Exactly how difficult was it, though, to determine pretty early on that Bundy and his followers were using the threat of force to back up some terrifyingly misguided beliefs?
Wow. Wow wow wow wow wow.
Wow. The unhinged crazy is just … wow.
And you and all of your friends each want to get the top. From the base of the mountain, the top looks really small and it doesn’t seem like there’s going to be enough room for everyone. Even if it is big enough, you aren’t sure that all of your friends are going to make it all…
Best of Fallon: Guest Comedy
Hands down, one of our favorite Late Night comedy moments = Jimmy, Stephen Merchant and Joseph Gordon-Levitt’s epic lip sync battle.
This never gets old!