Quote:
Originally Posted by MalcPow
It is sounding more and more like this than the aforementioned computer trading trigger issues.
Edit to add: But who the hell knows, guess we'll have to wait for Michael Lewis to explain it next year.
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I'm pretty sure I've routinely disagreed with you in the past (in political threads), but I'm in 100% agreement here, on both points.
This is just another example of what Warren Buffet calls "financial engineering" run amok. We've allowed a the stock market to be changed from an exchange that facilitates investment in corporations, to some sort of crazed casino game, where money is created (and occasionally disappears back into) thin air.
We've gotten to the point where Gordon Gekko now looks like a reasonably responsible investor, with at least a casual interest in the real-world financials of the companies he was gutting, in comparison to the guys who run the market these days. That simply can't be a good thing.