On a large scale, people with money will always be able to manipulate the system. I do not disagree with that. On a small scale, it just isn't as rampant as people think.
While the AMEX as well as the NYSE is an open outcry market, most of the order flow now is electronic. The Specialist assigned to TKO probably has 10 other stocks he does the same thing for.
Nowadays though, most orders are routed electronically through other market participants, such as ECN's. There are three types of traders on the exchange floor, the Specialist, Floor Brokers (who execute orders on behalf of clients), and Locals (buy and sell for their own account). The Specialists is there to make a market when there is little liquidity and to execute orders as he gets them. They also have the ability to buy and sell for their own account. Its one of the perks for that job. I dont doubt that that power is abused, I just dont think its abused as often as people think. There are way too many eyes on them.
News 
Market Data 
Discover 
AI
