2 ms·
>Side note: many people you imagine to come from a smoke-filled room of evil (Citadel?) are much more reasonable once you get to know them. I work in the indus
by logicchains 6y ago
>Side note: many people you imagine to come from a smoke-filled room of evil (Citadel?) are much more reasonable once you get to know them.
I work in the industry, at a competitor, and while the people at Citadel may be reasonable, Citadel itself is absolutely a horrific monster, the Godzilla of the HFT space, destroying and devouring everything in its path. It makes a huge chunk of revenue from payment for flow, which is arguable of little economic value (and banned in many countries), securing an unfair advantage to itself through political means (lobbying etc. to enable this) rather than through honest competition in the market.
- etaioinshrdlu 6y agoThat description of Citadel sounds like it could be Google and its advertising engine scraping the top off the global economy. I don't have a magic policy answer here, but any long-term solution will not involve finger pointing at individuals doing legal things.
- alphabettsy 6y agoSetting the bar at legality is what got us here. When it comes to the relationship between government and business how about what’s ethical and right for the majority of Americans instead of just what’s legal.
- metiscus 6y agoIn most ethics trainings I have taken we are told to avoid taking actions that could lead to the perception of impropriety because the perception of impropriety can be as bad or worse than impropriety itself. That ethos becomes more important the higher ones station becomes in politics and business. I am not accusing Yellen of anything improper, however these transactions give circumstantial support to those who may believe she acted or will act in an improper way.
- alphabettsy 6y agoYea, I’m not talking so much about Yellen as the relationship between the wealthy and government officials in general.