[quote=harvey][quote=CA renter]And my knowledge wasn’t based on a Rolling Stone article. I was using that as a quick and easy reference to what’s been going on with HFT because you displayed no knowledge, just more of your ad hominem attacks. I’ve been studying economics, finance, and social studies for decades.
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Oh dear …. well, then, tomorrow I’ll have to give my old boss a call…
I’ll tell the Wharton educated Goldman Sachs exec … the one who gave me all those bonuses (the money that let me retire in my early thirties) that I was fooling him all those years because – according to someone who’s “been studying economics, finance, and social studies for decades” – I actually have no knowledge of HFT.
(Ok…I’m only semi retired, since I’m in NYC right now doing some consulting work in the field of – you guessed it – HFT!)
[quote]Look in the mirror.[/quote]
How ’bout I look out the window?
From the corner room of the Marriott in the financial district, West St. Nice view of the Hudson to the west and the tower on the WTC also.
For reference, the building with the dome is Three Financial Center:
Nice view. I had a similar view earlier this year.
You were defending HFT, and I was explaining why it can be damaging to our economy. There are plenty of “experts” who agree with me on this, BTW, and many of them come from Ivy League schools, too.
You are biased in favor of Wall Street, which is understandable. That doesn’t mean that what you want is what’s good for our economy.
I’ve also known someone who was the director of the board of one of the major exchanges. We used to discuss finance and economics a lot. It struck me, though, that his frame of reference was extremely narrow, and that he really didn’t grasp the larger picture or understand some of the consequences of certain actions on the larger world.
Again, the “experts,” most of whom have advanced degrees from ivy-league schools, claimed that their wasn’t a stock market/internet bubble, or a housing/credit bubble. Many of them claim that the Federal Reserve’s responses to the financial crisis have been a positive thing (we have yet to see how that plays out in the long run). They were wrong, and many “amateur economists” have been right. This happens far more often than most people would like to admit, in many different fields.
