Joseph comments on JP Morgan’s new pre-crime surveillance program..
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ZeroHedge – Earlier today we noted that Gregg Berman, the SEC’s HFT “investigator” whose algorithm investigating hilariously involved the use of a platform created by an HFT firm, will be leaving the regulator later this month. Perhaps he can give Jamie Dimon a ring because as it turns out, JP Morgan is in the process of creating a new division which, much like the SEC, will deploy machines in an effort that’s ostensibly designed to catch people doing things wrong, but which will, in the end, likely prove completely ineffectual at rooting out the type of manipulation and general chicanery that has over time transformed nearly every market into a farcical, manipulated shadow of its former self. Continue reading