I see algorithmic trading as not a symptom of, but one of the solutions to the problems in investment banking This is incredibly naive. Amazingly so.
"This can all be proven by something called the efficient market hypothesis" really? This is even worse.
Front running is a betrayal of the fundamental behavioural "assumptions" underpinning economic theory. By definition, without these assumptions, there is no EMH. So this whole thing falls apart.
That's why this is such a problem. If you really believe in markets, the first thing you do is make sure their underpinnings are not corrupted.
Its not clear that OWS believes in markets. The critique I'm outlining above is a seperate position alltogether.
"This can all be proven by something called the efficient market hypothesis" really? This is even worse.
Front running is a betrayal of the fundamental behavioural "assumptions" underpinning economic theory. By definition, without these assumptions, there is no EMH. So this whole thing falls apart.
That's why this is such a problem. If you really believe in markets, the first thing you do is make sure their underpinnings are not corrupted.
Its not clear that OWS believes in markets. The critique I'm outlining above is a seperate position alltogether.