"I just read an article in Popular Science that almost made me sick to the stomach. The headline says it all "Pricey Transatlantic Cable Could Save Milliseconds, Millions by Speeding Data to Stock Traders".
Here is $400M being spent just to give flash traders a 5 milliseconds advantage in trans-atlantic flash trading. It adds nothing to the economy, just lets the Wall Street Casino operators skim more money from the economy. On top of this, it diverts talent amd money from real productive projects.
Never has Matt Taibbi's description of Goldman Sachs, and by extension, all the big banks, as "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money" seem even more apt.
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