Is the Market Crazy? Treasurys Are Screaming Crisis While Stocks Yawn

By Pam Martens: June 2, 2014

One critical gauge of how fair and efficient a market is resides in the degree to which it reflects the composite wisdom of all participants. A rigged market, for example, reflects the composite wisdom of just those doing the rigging since they are privy to information that is not shared with all market players.

On March 30, bestselling author Michael Lewis appeared on 60 Minutes to summarize the findings in his newest book, Flash Boys, as follows: “stock market’s rigged.” Michael Lewis was talking about stock market manipulation by high frequency traders.