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Perhaps a comment on the original article rather than this response article, but by "beating Wall Street", you're not just beating Goldman et al., you're (for a
by noloqy 13y ago
Perhaps a comment on the original article rather than this response article, but by "beating Wall Street", you're not just beating Goldman et al., you're (for a large part) beating the pension funds that hard working citizens put their savings in. Sure, you have the right to play Robin Hood, but the author has to realize it is not just mindless corporations he is taking money from.
- arghbleargh 13y agoThis is a point worth considering that the other comments seem to ignore. If you embezzle a million dollars from a charity and give half of it back, that doesn't make you an altruistic person. (Saying that just as a thought experiment, not saying that's what's hapenning here.) For the justification to hold up, you probably need to believe some mixture of the following: - high frequency trading adds value to society comparable to the amount of money you make - more money should be transferred from the first world to the third world than people are currently voluntarily willing to give
- abraininavat 13y agoIf you accept that the number of people Wall Street employs is bounded, and if you accept that someone else would have this kids' job and probably do comparably at it, then he is not taking from workers pension funds. He's taking from Wall Street money that would have remained in Wall Street (or gone to buy a fancy car or house) and sending it to Africa.