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by User23
2207 days ago
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> It's a great business model, like a hedge fund running an exchange with no separation of information. It would be illegal the financial sector. Maybe I'm misunderstanding, but wasn't Glass–Steagall repealed? A lot of people don't realize, but hedge funds are the small fry. I mean sure a few hundred million or even a billion or two dollars sounds like a lot of money, but once you realize how much the Fed is pumping through the primary dealers it's literally pocket change. It's outfits like Goldman or BlackRock that are playing heads I win tails you lose. |
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Glass-Steagall banned federally-insured banks from competing with investment banks. Information walls, which have to do with insider trading, are a separate beast.