Follow Slashdot stories on Twitter


Forgot your password?
Check out the new SourceForge HTML5 internet speed test! No Flash necessary and runs on all devices. ×

Comment Re:How is this different from arbitrage on the NYS (Score 1) 213

He has different cronies than the harridan. His aren't necessarily Wall Street Speculators.

It's early December. Maybe we should wait until his cabinet nominees are actually confirmed and in their jobs before talking about what kind of cronies he will or will not have working for him.

So far his pick for the Treasury (Mnuchin) is a Goldman Sachs partner and member of the management committee, like his father before him. After he earned a few tens of millions at GS, he left and started his own hedge fund. Then he and George Soros and another hedge fund manager bought a home loan bank out of bankruptcy, and Mnuchin became the chair of that. That bank was involved in several lawsuits over questionable foreclosures before they sold it for over twice as much as they bought it for. $1.8 billion for 6 years work isn't bad, even if their bank was responsible for 39% of all federally insured reverse mortgages during that time (even though they only serviced 17% of the market). They did get subpoenas from HUD though, but I guess that problem's going to go away, haha, right? I suppose he'll need to move out of his $26 million house in Bel Air, but I'm sure someone will keep it warm until he gets back.

His pick for Commerce (Ross) is a billionaire who spent 24 years working for Rothschild Inc where he advised clients about bankruptcy restructuring, including being the senior managing director. He's the guy who allowed Trump to keep his Atlantic City casinos and rebuild his business after one of his bankruptcies. He left Rothschild and formed his own company with $440 million to buy up failing companies and try to resell them, including steel and coal companies. Back in 2006 when the Sago mine exploded and killed 12 people, he was involved with the company who owned that, knew about the safety problems, and refused to shut down the mine. So maybe they really will bring back the coal industry, even if it kills people. He's also a former officer of the NY state Democratic Party and served under Clinton. Oh, and, as of 2012, he was the "Grand Swipe" (or leader) of the "secret Wall Street fraternity" Kappa Beta Phi.

His pick for Transport, Elaine Chao, is not only the wife of the owner of the single most-punchable face in the Senate, but she was also a VP at Bank of America and an international banker at Citicorp. She was also the secretary of Labor when the Sago mine blew up, so she can reminisce about that with Ross. After the Bush administration she served on several boards, including Wells Fargo and News Corp.

Oh, and when he's not busy running the entire country, Trump is going to continue to produce his reality show. I wonder if it's going to say "Executive Producer: President Donald J. Trump" or if he'll go a little more low-key. I don't think low-key is in his vocabulary though.

Also, kudos on "harridan", I had to look that one up. Nothing like going back to the 1600s for your insulting words for women.

Comment Re:Stop using cars at all. (Score 1) 243

So, when everyone moves to the city to make you happy, what will we all eat?

Not everyone lives the same life as you, when you try to tell others how to live theirs, maybe you should understand the first thing about it.

I live in Glen Burnie, MD, and work in Columbia, MD, please show me how I am to use mass transit to possibly be able to get to work and back every day.

If I drive, it takes me 30 minutes to get to work. If I try to take transit, it is 2 hours (each way). So, I should give up half the time of my actual work day to appease you and your shitty attitude? I don't even live in rural America, I live in the megalopolis between DC and Baltimore and a Demoratic stronghold state as well, and the transit system is aweful.

Comment Re:How is this different from arbitrage on the NYS (Score 2) 213

Lucky for us, the BOTS on Wall Street failed to get their own BOT into the White House a month ago...

Right, yeah, the guy who lives in a gilded tower with his name on it in the middle of New York City is really going to stick it to all of those Wall Street people, isn't he? I mean, if there's one person who really understands the common people, it's a guy living in his own 200-meter tower who covers anything he can in gold.

Comment Re:How is this different from arbitrage on the NYS (Score 4, Insightful) 213

The only "liquidity" that HFT "enhances" is in the bank account of the person controlling the software. It really is parasitic. It feeds off the system without adding anything to it. If I put in an order for a stock at $3 per share and some computer sitting between my broker and the exchange notices that the price is now $2.99 per share, and they buy the shares at $2.99 in order to sell to me at $3, that doesn't do anything except give money to the person who paid however much was required to have only a 3-meter cable between their computer and the trading computer. The people benefiting from the system have a wide range of words that they use to try to explain why it's actually a good thing that they're getting paid for not doing anything, but the reality is that the money belongs in the hands of the seller.

Slashdot Top Deals

I have a theory that it's impossible to prove anything, but I can't prove it.