So, Goldman is on track to report record trading revenue, enabling it to boost its compensation 64% from last year. See Christine Harper’s Bloomberg July 9th blurb. Where is this trading revenue from? You know the answer! HFT. These automated programs detect institutional volume and footsteps, front run the perceived footprint, and collect rebates all the while. Not a bad gig.
It is nice to know that while 97% of America has their credit curtailed, and find it more difficult than ever to get a loan to create real value, this institution enjoys leveraging up our taxpayer money to the tune
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