In Defense Of The High-Frequency Hackers | TechCrunch
Jared Sperli stashed this in economics
Stashed in: Hackers!
At the end of the day, I subscribe to the quaint notion that companies actually have intrinsic value independent of Wall Street’s daily delusions, and if the latter grows increasingly disjoint from reality, then at fundament that is its problem, not everyone’s. The financial industry seems very fond of the notion that the civilization as we know it would collapse into anarchy without it continuing to mint huge profits from arcane financial convolutions, but I can’t shake the sense that–in the long run–another humbling financial catastrophe might actually be good for us all, since we don’t seem to have learned much of anything from the last one. Even if their critics are right, those hackers might inadvertently being doing us all a huge favor.
We really didn't learn anything from the last one.
Another catastrophe would hurt everyone and I'm not in favor of that as a teacher.
what would you prefer? rational actors? hahahaha
That's my preference. Good regulation makes good actors.