Flash Boys - the new game - high-frequency trading
Posted: 02 April 2014 08:37 AM   [ Ignore ]
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The Rand Paul thread reminded me of last night’s Fresh Air interview,  it was quite insightful into the mentality that seems to be running this country.
I don’t listen to the program near as much as I used to, so it was nice to see she’s hanging on to her title as America’s best investigative interviewer… er, in my humble opinion  cheese

On A ‘Rigged’ Wall Street, Milliseconds Make All The Difference
http://www.npr.org/2014/04/01/297686724/on-a-rigged-wall-street-milliseconds-make-all-the-difference

“The stock market is rigged,” Michael Lewis tells Fresh Air’s Terry Gross. “It’s rigged for the benefit for really a handful of insiders. It’s rigged to ... maximize the take of Wall Street, of banks, the exchanges and the high-frequency traders at the expense of ordinary investors.”

Lewis is the author of several books about the world of finance, including Liar’s Poker and The Big Short. His new book Flash Boys is about the form of computerized transactions known as high-frequency trading, in which the fastest computers with the highest connection speeds get the information first, and make the trade before anyone else can. A millisecond — even a nanosecond — can make all the difference between how much money is made or lost on any transaction.

You’d be surprised to hear what investment banks do to get that nanosecond edge, and how they often use it in ways Lewis describes as predatory. ...

And to think all this occurred since the 2008 melt down… like Homer Simpson says: “I didn’t learn a thing”

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How many times do lies need to be exposed
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Posted: 02 April 2014 06:37 PM   [ Ignore ]   [ # 1 ]
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I saw Lewis interviewed on the Daily Show.  Jon Stewart seemed really impressed by the readability of the book, “Flash Boys”.

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As a fabrication of our own consciousness, our assignations of meaning are no less “real”, but since humans and the fabrications of our consciousness are routinely fraught with error, it makes sense, to me, to, sometimes, question such fabrications.

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