Thursday, December 8, 2011

Corzine: It Was the Robots Wot Done It

I can't for the life of me understand why the former Senator would be channeling a nineteen-year-old British tabloid headline* but...
From MarketBeat:
Corzine: It Was Those Darned Robots
In his testimony today Jon Corzine invoked a favorite bogeyman of lawmakers and investors, saying the rise of high-frequency trading firms put pressure on MF Global’s ability to turn a profit via commissions.

Corzine was responding to a query about his firm’s business model, and acknowledged that MF’s technology had become antiquated in recent years....MORE
*Reporting on the Conservative victory in the 1992 British general elections the Sun newspaper comments on their own modest role:

Front-page of The Sun from Saturday 11 April 1992.