High Speed Traders Are Robbing Us All – Gawker
SHigh frequency trading, in which superfast computer algorithims buy and sell stocks in fractions of a second, is little more than a tax on financial markets that goes directly into private pockets. There’s more news today about how ridiculous the practice has become.Why do financial markets exist? Ostensibly, they exist to funnel capital to its most productive uses. That is what redeems them, socially. They are supposed to fulfill that beneficial purpose, in order to make all the high salaries of Wall Street motherfuckers at least theoretically tolerable. High frequency trading, on the other hand, has no socially redemptive value at all. It is a way for the person with the fastest fiber optic cable to suck money out of the financial markets for their own …
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High frequency trading, in which superfast computer algorithims buy and sell stocks in fractions of a second, is little more than a tax on financial markets that goes directly into private pockets. There's more news today about …
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High Speed Traders Are Robbing Us All – Gawker
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