http://www.rollingstone.com/politic...ed-the-biggest-financial-scandal-yet-20130425
Just a counterweight to all the HFT criticism...
Just a counterweight to all the HFT criticism...
The mother of all scams...
- Thread starter QuantWizard
- Start date
There is already a thread on the LIBOR fixing quoting this same article. I don't see any connection/correlation to HFT.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=265889&highlight=LIBOR
http://www.elitetrader.com/vb/showthread.php?s=&threadid=265889&highlight=LIBOR
Never stated that. Strange if you haven't noticed claims against HFT for being illegal/unethical though...
The recent leaked data on the trillions in overseas accounts could give this "libor" story a run for its money.
Depends on whether the tax shelters were legal or not. After the journalists sort through this tax info., they should dump the entire database online, so people can search it for particular names, key words, etc.
One good piece of info. already found in the leak - massive international financier Marc Rich was personally pardoned by President Clinton for illegal acts, because the Rich's did big fundraising for President Clinton.
After the pardon, Mark's wife (Denise) then disavowed her U.S. citizenship for tax reasons. Denise has well over $100 million in overseas accounts which were the result of her husband's illegal activities..........
Now THAT's how you game the system.
Depends on whether the tax shelters were legal or not. After the journalists sort through this tax info., they should dump the entire database online, so people can search it for particular names, key words, etc.
One good piece of info. already found in the leak - massive international financier Marc Rich was personally pardoned by President Clinton for illegal acts, because the Rich's did big fundraising for President Clinton.
After the pardon, Mark's wife (Denise) then disavowed her U.S. citizenship for tax reasons. Denise has well over $100 million in overseas accounts which were the result of her husband's illegal activities..........
Now THAT's how you game the system.
Go figure.
Quote from gmst:
The big difference being libor fixing affects counties, pension funds, educational institutes and private corporates.
HFT especially sub-penny affects fills of stock traders and thus their livelihood directly
You're right, poor Average Joe who's losing one tic in slippage on his monthly trade to the hideous HFT traders...
