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Once in a while, the Invisible Hand does its job.....
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Once in a while, the Invisible Hand does its job.....
by Sigma_Orionis » Mon Mar 31, 2014 8:31 pm
Sic Transit Gloria Mundi
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Sigma_Orionis - Resident Oppressed Latino
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Re: Once in a while, the Invisible Hand does its job.....
by Swift » Mon Mar 31, 2014 10:28 pm
60 Minutes had a great piece about this last night. I'm unconvinced the Invisible Hand has done its job yet. This new exchange they formed is a tiny fraction of the market. There are also apparently some investigations going on by the New York State's AG's office, but I'll but I believe there is a solution there when people get carted off to jail.
There is a lot of money behind this rigging of the system that is going to fight this tooth and nail.
Some times all the Invisible Hand does is give certain guys hand jobs.
There is a lot of money behind this rigging of the system that is going to fight this tooth and nail.
Some times all the Invisible Hand does is give certain guys hand jobs.
Never, ever forget: we did this. This is what we can do.
In wilderness is the preservation of the world. - Henry David Thoreau
Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has. - Margaret Mead
In wilderness is the preservation of the world. - Henry David Thoreau
Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has. - Margaret Mead
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Swift - Posts: 2353
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Re: Once in a while, the Invisible Hand does its job.....
by Sigma_Orionis » Tue Apr 01, 2014 12:00 am
No doubt, the money behind the rigging is going to fight this to the bitter end (however it plays out). But its refreshing that once a while, someone comes out with something that could beat those bastards at their own game.
Sic Transit Gloria Mundi
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Sigma_Orionis - Resident Oppressed Latino
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- Joined: Mon May 27, 2013 2:19 am
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Re: Once in a while, the Invisible Hand does its job.....
by Swift » Tue Apr 01, 2014 1:46 pm
I did like their solution - a box with 60 km of fiber optic cable.
Never, ever forget: we did this. This is what we can do.
In wilderness is the preservation of the world. - Henry David Thoreau
Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has. - Margaret Mead
In wilderness is the preservation of the world. - Henry David Thoreau
Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has. - Margaret Mead
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Swift - Posts: 2353
- Joined: Wed May 29, 2013 2:40 am
- Location: At my keyboard
Re: Once in a while, the Invisible Hand does its job.....
by SciFiFisher » Tue Apr 01, 2014 4:18 pm
Essentially, it's a form of insider trading. Which is illegal. And I think that's one angle that prosecutors will attack it from. Essentially when you take away the high tech aspect it's about knowing that someone wants to buy widgets and is willing to pay as much as $1 per widget. You know where you can buy the rights to 1 million widgets for 99 cents each. Then you sell the widgets to the guy who wants to buy 1 million widgets for $1 per widget. you pocket the 1 cent difference on 1 million widgets. a fast profit.
Sounds ok until you realize that the way they are doing it is buying the widgets before you can just so they can increase the price and sell them to you. They have knowledge that others do not and they are profiting by it. Which is IMO the text book definition of insider trading.
Sounds ok until you realize that the way they are doing it is buying the widgets before you can just so they can increase the price and sell them to you. They have knowledge that others do not and they are profiting by it. Which is IMO the text book definition of insider trading.
"To create more positive results in your life, replace 'if only' with 'next time'." — Author Unknown
"Experience is a hard teacher because she gives the test first, the lesson afterward." — Vernon Law
"Experience is a hard teacher because she gives the test first, the lesson afterward." — Vernon Law
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SciFiFisher - Redneck Geek
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Re: Once in a while, the Invisible Hand does its job.....
by FZR1KG » Wed Jun 04, 2014 6:42 pm
Take away insider trading and most of the worlds economies will crash.
- FZR1KG
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