This column was originally published on RealMoney on Oct. 25 at 11:20 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.

To me it is infuriating when the most meaningful, most material information -- a liquidation -- is in the hands of so few and they

exploit it so well.

I am talking about the billions of dollars that may have been made taking the tag ends of the trades of the big

Refco

(RFXCQ)

liquidation.

There were no releases, no information, no nothing, just profits for the liquidators.

It's so funny that the

SEC

goes to any lengths to make sure that material information about a company is disclosed properly and timely, but it could care less about information involving the stock itself. It's almost as if that's the one real edge left that the SEC hasn't done away with: the right of the brokers to take the tag ends and give them to their buddies, or, given how many brokers are actually hedge funds in disguise now, keep the profits for themselves.

Again, I can't change the law. I don't even know if I want to. I just want to profit from it. I couldn't get in on those cleanup blocks of

Chevron

(CVX) - Get Report

or

Exxon

(XOM) - Get Report

, I couldn't participate in the resuscitation of

Schlumberger

(SLB) - Get Report

or

Occidental

(OXY) - Get Report

.

Image placeholder title

But I

can

buy

Goldman Sachs

(GS) - Get Report

. And I would be doing just that if I were allowed to. I believe it cleaned up the biggest on this one, right in time to make the quarter fabulous.

Random musings:

We couldn't get in on this game. But you can still get in early on James Altucher's new service, TheStreet.com Internet Review. Remember, the Net isn't just one sector, it's retail and media and advertising and more, and that means more opportunities. Look, James is one of the smartest guys I know, and you can get his top-down analysis of trends and baskets of stocks that he believes will capture the growth they'll generate -- from long-term picks to catalyst trades and system-driven trades.

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Please note that due to factors including low market capitalization and/or insufficient public float, we consider Refco to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

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At the time of publication, Cramer was long Occidental Petroleum.

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