Category: 9. Corporate Power is Protected

The other key ingredient to the success of any HFT platform is low network latency. The platforms are greatly helped in this regard by the fact that many exchanges will let HFT platforms pay to co-locate their servers with those of the exchange itself, so that the HFT platform can get its order in ahead…

[W]e’re looking at huge payouts by firms that were major recipients of federal aid. Citi has received around $45 billion from taxpayers; Goldman has repaid the $10 billion it received in direct aid, but it has benefited enormously both from federal guarantees and from bailouts of other financial institutions. What are taxpayers supposed to think…

Yesterday the website WikiLeaks* published TOP SECRET information about loans made by Kaupthing bank just before the Big Meltdown last October. Rumours had been circulating about large-scale money transfers from the bank during the days preceding the bank collapse last fall. The leaked document shows definitively that massive loans were made to a select few…

From Bloomberg: The party is over,” Cuomo said today at a press conference on Wall Street in lower Manhattan. “No more hunting trips. No more luxury resorts. They are not going to have the party and leave the hangover for the taxpayers.” AIG has been castigated by officials since the New York- based insurer hosted…