3 ms·
Well, the near-instantaneous drop we saw a few weeks ago is something that has happened exactly once in history. It will probably never happen again, at least n
by hugh3 16y ago
Well, the near-instantaneous drop we saw a few weeks ago is something that has happened exactly once in history. It will probably never happen again, at least not in the same form, since people have probably gone and changed their software to avoid it. And its consequences, in the end, weren't all that bad -- mostly a bunch of institutional investors made some money at the expense of some other institutional investors, but I haven't heard of anybody getting wiped out.
So I'm inclined to pick the free-market devil I know over the government-controlled devil I don't.
- joe_the_user 16y agoAmerica's greatest period of growth, the 1950-1973 expansion, took place within a highly regulated financial system. The "devil" of returning to that level of regulation hardly seems unknown.
- djb_hackernews 16y agocorrelation causation blah. playing devils advocate, imagine how much more we would have grown had the financial system been unregulated.
- joe_the_user 16y agoMy point was that a regulated financial system is hardly an unknown, whether "devil" or not. Indeed, high frequency trading seems like far more of an unknown and giving good evidence so far of being a "devil".