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hardnox
Advisor

HFT and Dark Money

It's been six months since Lewis' Flash Boys was published and pretty well confirmed that HFT firms are skimming very large sums, probably on the order of a few $B per month off of the $trillions flowing through the stock market.

 

While trade associations etc. can manufacture talking points as to why this is a good thing for all or us, etc., nobody with half a brain buys that in the least.

 

But absolutely nothing has happened and it is, as Lewis says, because every single person in a regulatory position is ready to follow their predecessors into the industry where they'll make many, many times more than they ever dreamed of elsewhere.

 

But that aside, and there's a lot there to unpack, it also occurs to me that almost surely much of the $hundreds of millions in dark money that flowed into the election late in the game came from those folks. Who else has that much money and that much to gain, or lose, merely by political action/inaction? Nothing ideological, just please permit me to continue to steal.

 

Also quite possible that they did the same thing as is common with old fashioned political influence buying and split 60/40 or 70/30 to make sure they have  a little fallback if they bet wrong. Although not sure if it really makes sense to slip money to one candidate so that an affiliate can call his opponent a satanic child molester and then give the other money to call him Saul Alinsky's gay lover.

 

BTW, I'll remind you that the two most prominent channelers of dark money- the Kochs and Adelson are in unique positions to be conduits from ever darker, unknown places. Adelson- Macau casinos- 'nuff said.  Kochs- a private company without the sort of financial disclosure requirements that a public corporation has- an almost limitless number of opportunities to launder money into the political system.

 

For the purpose of getting ordinary Americans angry and stirred up, for purposes other than what they're stirred up about.

 

 

 

 

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