[ExI] Efficiency of algorithmic trading
pharos at gmail.com
Sat Apr 30 08:09:39 UTC 2011
On Sat, Apr 30, 2011 at 5:12 AM, Rafal Smigrodzki wrote:
> BTW, I agree that a part of the problem in the US banking system were
> crooks - but concentrating on them is missing the point. In a way,
> Bill, you are like the touchingly naive Russians sending worshipful
> letters to Stalin asking to redress grievances against corrupt
> officials. The problem is not the crook who absconds with a few
> million dollars but the long-feedback centralized system (i.e.
> government banking regulators) which allows the crook to cook the
> books (or just be stupid) long enough for major problems to
> accumulate, eventually leading to a more dramatic explosion.
I'm not concentrating on the crooks in Wall Street.
Of course Wall Street is now totally corrupt and robbing the nation.
But as the article I referenced makes clear, the big problem is the
rule of law and regulatory capture.
The laws are already on the books. But if you work in Wall Street,
nobody will enforce the laws because they know that next year they
will have a multi-million dollar job in Wall Street.
The revolving door between government and Wall Street means government
by the bankers and for the bankers.
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