“For decades the American financial system was stable and safe. But then something changed. The financial industry turned it’s back on society, corrupted our political system and plunged the world economy into crisis. At enormous cost, we’ve avoided disaster and are recovering.
But the men and institutions that caused the crisis are still in power and that needs to change. They will tell us that we need them and that what they do is too complicated for us to understand. They will tell us it won’t happen again. They will spend billions fighting reform. It won’t be easy.
But some things are worth fighting for.”
Inside Job
…it changed in 1913 with the formation of the federal reserve, the income tax, and the direct election of senators…
Reading a book called Dark Pools by Scott Patterson….
“In late 2011, for instance, Nasdaq rolled out a platform called Burstream that gave clients the ability to get data in six hundred billionths of a second. All that turnover was having a real world impact on stocks..at the end of WW2 the average holding period of a stock was four years. By 2000 it was eight more months. By 2008 it was two months. By 2011 it was twenty two seconds. One HFT firm claimed its holding period, of stocks, on average, was 11 seconds.”
eight more months.
Scratch the ‘more’ in that sentence’ it was eight months.
Typical liberal hack. I stopped a minute in. He obviously does not understand how a two party system works
We’re not recovering.
The USA & world have piled up more debt & leverage to cover up a depression. People in charge are trying to fight the natural laws of finance & economics. Impossible as the debt goes parabolic & becomes unpayable.
Indentured Servant: I found it; ref the what caused the previous catistrophic global warmings