My reaction to the article on the Goldman Sachs tapes

I know this article is reporting certain banking practices but what really needs to be fixed I think is the levels at which Wall Street brokers do trades. They’re all too high volume and many shares are automatically leveraged by machines now to stay balanced, which removes the human element. Brokers need to broker volumes at local commodity levels — where there is local community commissioning of what goes down as trading (the spread). The corruption is so prevalent that it’ll take an evolution to change the pricing mechanisms behind all things sold and bought publicly in the marketplace. Doing this will somehow force most banking regs into compliance I think. In other words, we need a networked barter system that is compatible with cash, the euro, the yen, peso, etc.


About nickwinlund

40s-something Ubuntu/macOS enthusiast.
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