|
OMG. Flacaltenn, you cannot admit that anything is ever wrong unless the government is behind it.
Latency arbitrage is nothing but collusion between the exchanges and a handful of well-placed hedge funds with the goal of simply skimming money out of the system. It is itself like a tax, but a private tax. I guess that's why you see nothing wrong with it. It does nothing to add transparency or stability to the markets. And there's no risk associated with the practice.
Yet instead of being able to actually agree - at all - with someone you have labeled a "leftist," you once again use this tired old bait-and-switch tactic... change the subject to ticket scalping??? WTF?
You said: "Just so you know I'm human -- if it's NOT just optimizing trades (which EVERY registered broker has access to), and there is massive theft goin' on -- please let ME know first. Then call the SEC..." I let you know, but since it came from a "lefty," I guess the ticket scalping is a bigger issue.
Oh, I guess $3 billion isn't "massive" enough theft when it's going to people who are likely to be republicans. But heaven forbid a regular worker should be able to negotiate a living wage or get affordable health care. I can only imagine the hew and cry that would ensue if $3B were "stolen" from the federal budget by a group unpopular with the right. Oh yeah... how much time and money and bile was spewed over ACORN? You know how much federal money they received? $1.7 Million in 2008 and $2.2 million in 2009. Even if there were many improprieties in their use of the funds (and I'm not saying there were or weren't), they "wasted" less than 1/1000 of the money being stolen from investors through latency arbitrage.
|