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

See on Scoop.itDidYouCheckFirst

Published on Wednesday, April 30, 2014 by OtherWords

A tiny tax on every financial transaction would curb Wall Street recklessness.by 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?

 

Read more at 

http://www.commondreams.org/view/2014/04/30-10

 

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.

See on www.commondreams.org

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s