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Flash Boys: A Wall Street Revolt Highlight

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My prediction was six or seven out of the forty-four would have done it. None. Zero. There are now forty-five markets. On forty-four of them no one has any idea how they trade. Has it not dawned on anyone that it might actually be a good idea to tell people how the market works? People can look back on the financial crisis and say, ‘How can you give a mortgage loan with no documentation? It’s preposterous.’ But banks did it. And now trillions of dollars of trades are being executed on markets where no one has any

— Michael Lewis

Replicated under Fair Use from Flash Boys: A Wall Street Revolt by Michael Lewis. (Pg. 211)