Flashboys, Michael Lewis

steamisbn: 97802410036633 has a ropey start but goes into the detail about high frequency trading (hft), how inefficient telecom and cable networks are and that your being screwed by wall street with fake markets inside trading firms rather than buying stock on stock market which are a few of the ‘sins’ revealed.

The Goldman Sachs programmer Sergey Aleynikov was perhaps a mistake made by Goldman Sachs as it became big news and began to blew the lid on hft rather than a corrupt single person.  Then the dots began to form a picture.

The ‘too big to fail’ culture kept its jobs and the fail as stock trading went computerized and compromised, although the humans in that role had issues with being okay with success and not with failure.

The stock markets also have responsibility here and also should be called in to question for allowing a few to game a market by changing the rules.

5/5 bananas

 

4 responses

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