Derailing the High-Speed Trading Bullet Train Before It Crashes Our Economy

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Published on Wednesday, April 30, 2014 by OtherWords

A tiny tax on every financial transaction would curb Wall Street Sarah Anderson

On the afternoon of May 6, 2010, the Dow Jones Industrial Average suffered its fastest nosedive ever. Within minutes, a trillion dollars in wealth went “poof.”


What happened?




Greg Russak‘s insight:

This makes a lot of sense to me. Too bad the Obama administration isn’t on board. As any economist will tell you, if you want to curb a behavior, tax it. The people with the biggest and fastest computers sitting closest to the exchanges’ servers should not get an advantage…..or be allowed to basically manipulate markets because their programs execute trades milliseconds faster.

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Author: Peaceful Patriot

Proud middle class husband, father, and progressive liberal. Registered Non-Partisan but have much more in common with Democrats than Republicans. Consider Libertarians to be immature and underdeveloped in their understanding of reality. An atheist who doesn't care what you believe so long as you stop pretending the Founding Fathers intended for you to legislatively force your beliefs on everyone else. Laughs out loud in mocking disdain at the abject lunacy of birthers, climate science deniers, and hard core tea partiers. If that offends you, too bad. You're not rational and have no place at the adult table.

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