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