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Technology Stocks : The *NEW* Frank Coluccio Technology Forum -- Ignore unavailable to you. Want to Upgrade?

To: aladin who wrote (34763)	8/3/2010 1:44:25 AM
From: axial	Read Replies (1) \| Respond to of 46821

Thanks for your reply, John. Yes, it often happens that people serve a questionable outcome simply because it puts food on their tables. "... the people I know who were involved in developing this technology were not evil and had good intentions." We've seen that dynamic play out across many sectors from logging and fishing to the oil patch. Economic necessity is a hard driver. It would be nice if we could all serve lofty aims, but sometimes that's not possible. We understand the benefit of trading and markets: they're activities as old as man. We understand the auction process, and how bidding establishes selling price. That said, we still haven't made a case for HFT's value proposition, societal or economic benefit - not here, not anywhere else. When the bidding process is corrupted to betray buyer intentions and price limits to third parties, who then make a secondary market based on betrayed information, it's not an honest market. However fair dealing is no longer a guiding principle in the financial sector or among bought legislators and regulators. There are no more Pecoras. Everyone just goes along with the game, scrapping for the leavings of successful predators. Jim