Open the door to the top executives’ suite and you will hear howls of rage over the backlash these revelations have provoked. There is, from the corporate point of view, something a little disingenuous happening here. After all, countries, states and cities have spent the past several decades openly competing to set the lowest corporate tax rates in an effort to attract business. The fact that multinationals would respond to these incentives and turbocharge them with some international tax arbitrage is about as shocking as the discovery of gambling in Casablanca.
Officials with Virtu Financial LLC, a high-speed trading firm in New York, view a slight head start as good for the overall market, according to a person familiar with their thinking. The person said the data helps traders who buy and sell futures contracts throughout the day manage risk and post more quotes that benefit other buyers and sellers. The person said Virtu doesn’t use the information to amplify its profits by anticipating moves elsewhere in the market.
WSJ.com: High-Speed Traders Exploit Loophole
If you have learned anything from Jackie Robinson, it is that teammates are always the first to accept. It will be society who has to learn tolerance.
The Village got gentrified. Now it has the quaintness of a stage set in storage. The same thing has happened to similar scenes—Provincetown, Taos, the Hamptons, where Pollock could once afford to live—the difference being that the Village had lasted so very long.