Bucket Shop
You could just watch Leo's Wolf of Wall Street.
"Bucket shop" is a pejorative term for a brokerage firm that employs questionable or unethical tactics.
Lloyd always wanted to work for a prestigious Wall Street firm like Morgan Stanley or Credit Suisse. Unfortunately, he didn’t get into a good school, his grades were poor, and he didn’t have any connections in the Capital Markets industry.
As a result, the best job he could find was with Silverman Suchs, a tiny bucket shop operating out of Islip, Long Island...a far cry from the trading floors of Lower Manhattan.
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Finance: What is a Bucket Shop?15 Views
Finance, a la shmoop. What is a bucket shop? Anyone see wolf of Wallstreet?
Remember Leo's firm yeah that was a bucket shop, it was set up to fraud, [Bucket shop stamp]
deceive, steal, and basically take advantage of trusting naive rubes
who gave Leo and his partners their money and well they basically did vile [Toilets]
things with it. Bucket shop is a derogatory term coined [Leo holding money toilet paper]
by the Supreme Court actually in a 1905 ruling, in practice bucket shops were
often unregistered financial pool halls where quote investors unquote would bet [Pool tables]
on short term stock moves and well never actually take delivery of a
security. They would just like make the bed and then whatever happened they'd [Men in suits]
settle in cash outside of the security system, think of the bucket shop as a
first derivative of a real brokerage, such that cash comes in and goes out
without a whole lot of logic behind it, it's like betting on what tickers gonna [Stock tickers]
come up next on CNBC at the bottom of the screen you know that thing. Yeah so [Stock ticker appears under the CNBC logo]
that's what that weird logic is or lack of it other than as a reflection of
whether or not Ford ticker F went up a dime or not that day, like that's what [Ford stock price chart]
bucket shops do you're just making bets on random things and yeah Ford the wolf [Chips being placed on a roulette table]
of Wall Street's second favorite F word, fine film though should see it... [The wolf of wall street being played in a theatre]