Originally Posted by Skyhook
Once, before I grew up ( sometimes think I really did) I was convinced that the Stock Market was an honestly-run business endeavor... I do not cling to that illusion any more; I have witnessed too much.
It's not just the crookedness. Another huge problem is all the electronic trading and systems which interact. I'll bet no one person really understands it all. Remember the "flash crash" of 2010? That was around 1000 points. I know a day trader who lost a year's earnings in 60 seconds.
“At what point then is the approach of danger to be expected? I answer, if it ever reach us, it must spring up amongst us. It cannot come from abroad. If destruction be our lot, we must ourselves be its author and finisher. As a nation of freemen, we must live through all time, or die by suicide.”
- Abraham Lincoln