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6 April 2014

2010 Citizens United Decision Pushed Th

by Code Monkey

Plattner{.author-photo}Adam Plattner{.author} - 2014-04-06 22:57:39-0400[

2010 Citizens United decision pushed the concept of corporate personhood forward, so why is it legal for a corporations computers to perform front running but not a human broker?\ \ Front Running - Broker using advanced knowledge to make a profit on a customers pending orders are “illegal”.\ \ High-frequency trading (HFT) - A corporations extremely fast computers are able to use advanced knowledge (milliseconds) to buy up stock for pending orders is “legal”?\ \ \ #frontrunning{.ot-hashtag .bidi_isolate}\ #CitizensUnited{.ot-hashtag .bidi_isolate}\ #FlashBoys{.ot-hashtag .bidi_isolate}  

Originally shared by Matt Cutts{.reshare-attribution}You need to read Michael Lewis’ new book, Flash Boys. It’s about Wall Street and computerized trading, but that description doesn’t do it justice. The story is gripping, and it’s not about some long-past threat to society. Lewis writes about events up to December 2013, just a few short months ago. There’s a battle worth billions of dollars going on right now, you should know about it, and Michael Lewis makes it clear and fascinating. Flash Boys is the best book I’ve read so far this year.{.link-embed}

Amazon.com: Flash Boys: A Wall Street Revolt eBook: Michael Lewis: Kindle Store

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Matt McKnight{.author}[

Interesting perspective that lines up more with my intuition on how things work, although I can’t speculate on Lewis’ motives like he does, it seems that HFT liquidity is good for the little guy (compared to the old way).