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Submission + - Too Big To Fail HSBC Walks after a Decade of Money Laundering

demachina writes: Matt Taibi's latest rant on HSBC getting off with a fine amounting to 5 weeks of profits, for knowingly laundering at least 9 billion dollars over a decade for drug cartels and terrorist groups. Mexican cartels were walking in to HSBC branches with boxes designed to just slide through the teller windows filled with $100,000 in cash. Clinton partisan Lanny Breur decided HSBC was too big to fail, they couldn't risk criminal prosecution and big banks are officially above the law. Meanwhile ordinary drug offenders go directly to jail and have all their assets seized.
AI

Submission + - The Volume Clock, Insights Into High Frequency Trading (ssrn.com)

demachina writes: Interesting paper on High Frequency Trading, speed isn't their only advantage, "HFT reacts to information leaked by LFT in order to anticipate their actions". HFT also uses a volume clock which offers advantages over time based trading. Toxic trading strategies they use include quote stuffers, quote danglers, liquidity squeezers, and pack hunters where algorithms gang up for kills. The paper also covers strategies low frequency traders(LFT) and humans can use to defend themselves
AI

Submission + - The Volume Clock, Insights into High Frequency Trading (ssrn.com)

demachina writes: Interesting paper on High Frequency Trading, speed isn't their only advantage, "HFT reacts to information leaked by LFT in order to anticipate their actions". HFT also uses a volume clock which offers advantages over time based trading. Toxic trading strategies they use include quote stuffers, quote danglers, liquidity squeezers, and pack hunters where algorithms gang up for kills. The paper also covers strategies low frequency traders(LFT) and humans can use to defend themselves.

Submission + - I Was a Warehouse Wage Slave (motherjones.com)

demachina writes: A journalist took a job at a warehouse filling online orders where most workers are permanently temporary, working for minimum wage, no benefits with unreachable goals. Describes a new American subculture called "workampers", people living in RV's driving from one warehouse temp job to another. U.S. working conditions seem to be gaining on Foxconn's.
NASA

Submission + - Robert Boisjoly dies at 73, engineer who tried to stop Challenger launch (latimes.com)

demachina writes: Robert Boisjoly dies at 73. Boisjoly, Allan J. McDonald and three others argued through the night to stop the Challenger launch but Joseph Kilminster, their boss at Morton Thiokol overruled them and NASA managers didn't listen to the engineers. Both Boisjoly and McDonald were blackballed for speaking out. NASA's mismanagement "is not going to stop until somebody gets sent to hard rock hotel," Boisjoly said. "I don't care how many commissions you have. These guys have a way of numbing their brains. They have destroyed $5 billion worth of hardware and 14 lives because of their nonsense."

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