"The stock market is rigged," Michael Lewis tells Fresh Air's Terry Gross. “It's rigged for the benefit for really a handful of insiders. It's rigged to … maximize the take of Wall Street, of banks, the exchanges and the high-frequency traders at the expense of ordinary investors.”
Lewis is the author of several books about the stock market, including Liar’s Poker and The Big Short. His new book Flash Boys is about the form of computerized transactions known as High Frequency Trading, in which the fastest computers with the most high speed connections get the information first, and make the trade before anyone else can. A nanosecond can make all the difference between how much money is made or lost on any transaction.
Brad Katsuyama (above) figured out how the system is rigged and set out to change it. Lewis explains:
"There is this perception that Wall Street insiders understand how Wall Street works — and it’s false. It’s especially false right now. Here you have this young man, this kid [Katsuyama] at the Royal Bank of Canada who’s engaged in this kind of science experiment in the market. He figures out at least one angle the predators are taking and he goes and talks to not just ordinary investors … the biggest investors, the smartest investors in the world and their jaws are on the floor. … Even these people have no idea what’s going on in the market and are being educated by this Canadian who has basically just arrived on the scene and has decided to make understanding [this] his business."
Richard Ledgett: The NSA responds to Edward Snowden’s TED Talk
After a surprise appearance by Edward Snowden at TED2014, Chris Anderson said: “If the NSA wants to respond, please do.” And yes, they did. Appearing by video, NSA deputy director Richard Ledgett answers Anderson’s questions about the balance between security and protecting privacy. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design — plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://ift.tt/maCRwI Follow TED news on Twitter: http://ift.tt/vvvw4P Like TED on Facebook: http://ift.tt/AaF5HI Subscribe to our channel: http://ift.tt/ob8dqI
Edward Snowden: Here’s how we take back the Internet
Appearing by telepresence robot, Edward Snowden speaks at TED2014 about surveillance and Internet freedom. The right to data privacy, he suggests, is not a partisan issue, but requires a fundamental rethink of the role of the internet in our lives — and the laws that protect it. “Your rights matter,” he say, “because you never know when you’re going to need them.” Chris Anderson interviews, with special guest Tim Berners-Lee. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design — plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://ift.tt/maCRwI Follow TED news on Twitter: http://ift.tt/vvvw4P Like TED on Facebook: http://ift.tt/AaF5HI Subscribe to our channel: http://ift.tt/ob8dqI
The genius of science: GZA & Science Genius at TEDxTeen http://j.mp/TxT14GZA — GZA is a founding member of the seminal hip hop group, the Wu-Tang Clan, and co-founder of SCIENCE GENIUS with Christopher Emdin of Teachers College. The program seeks to engage high school students in science using hip hop. The pilot program met with great success in terms of recognition and results: participating schools saw an increase in regents exams scores and 15-25% in attendance. When asked who was his favorite Wu Tang member, Mayor Elect of New York City, Bill DiBlasio, said “GZA. Not only is he a great lyricist, but I also admire his work to engage African American and Latino students in the sciences.” GZA appeared alongside RZA in Jim Jarmusch’s ﬁlm Coffee & Cigarettes, opposite Bill Murray. The two also appeared on the Chappelle Show’s in the now legendary skits “Wu Tang Financial” and “Racial Draft.” GZA has lectured at Harvard, Oxford, USC, MIT, NYU, Cornell, and JPL/NASA. In his travels, he has met with a myriad scientists to seek inspiration for his forthcoming album entitled DARK MATTER, which will be released Spring 2014. The project is a natural extension of his longtime fascination with the cosmos. “I will take a quantum leap and discuss the universe while taking us on a journey through deep space. Traveling at lightspeed from the galactic center of one galaxy to the farthest corners of another. I hope my listeners will enjoy this cosmic adventure within a world of colossal planets, gas giants, meteorites, comets, and asteroids in the most extreme conditions.”
"Systems Thinking, Complexity Theory and Management" by David C. Aron, M.D., M.S.
Weatherhead School of Management Doctor of Management (DM) Program Alumni Residency Weekend Presentation by David C. Aron, M.D., M.S. Associate Chief of Staff/Education Louis Stokes Cleveland Department of Veterans Affairs Medical Center Presentation Title: “Systems Thinking, Complexity Theory and Management — Panacea? Snake Oil? Or something in between?” Recorded April 9, 2010 in The Peter B. Lewis Building at The Weatherhead School of Management on the campus of Case Western Reserve University