SOMEONE SHOULD WRITE A BOOK ABOUT WALL STREET

A book that shows us exactly how it functions.  Today I learned about another shady practice that I didn't know of before:

UPDATE 2-US SEC grants extension for market access rule
Mon Jun 27, 2011 6:26pm EDT
By Sarah N. Lynch

WASHINGTON, June 27 (Reuters) - Broker-dealers won additional time from federal regulators to comply with new rules banning "naked access," where brokers rent their IDs to unlicensed high-speed traders.

The new rule was adopted in the months after the May 6, 2010, "flash crash" and aims to ban unfettered access to U.S. stock markets for unlicensed firms. Under the rule, certain brokers would also have to establish a system of risk management controls.