[ilaksh]

Dumb question: so is this about trading that the large banks arrange for their clients and get commission on? And if so, how is this problem different from MGM, Wynn, Aria complaining that Las Vegas is having a couple of slow months?

Why do we need the banks for the trading anyway? Aren't there ways to handle it with technology rather than paying whatever fees the cartels want?

Maybe I am a little bit cynical in general about this stuff.

[bboreham]

This is a piece in Bloomberg, it’s written for people who work in the banks and money managers, so naturally they are interested it’s a slow period, jobs will be cut.

There is a vast amount of technology involved, but someone sets the strategy and that person takes home millions if it works. They are supported by thousands of other workers who also, in total, take home millions.

Small correction: way more money is made by actually buying and selling than by taking a commission on someone else’s trade. These roles are called “dealer” vs “broker”.