As we enter a new age, the new technology creates the need for new laws. Here's an example.
Banks and other super large financial institutions are unethically stealing from ordinary investors by finding out about trades ahead of time and then buying or selling to take advantage of them.
They do this with a computer. According to a BBC story, it takes one-third of a second to complete a trade (buy or sell) on the stock market. Within that third of a second, super large financial firms have computers that spot the impending trade, step in and buy or sell ahead of time, getting the lower price and forcing the stock price up. The person or institution making the trade gets a worse price, and the super large financial firm makes money when they sell at the higher price, seconds, minutes or hours later. If a person did this, it would be called "insider trading" and the person would go to jail. If a computer does it, it's legal.
It is unethical. It should be illegal. And one more reason why our financial institutions are not only unregulated for the 21st century, but stealing from the average person, small business and small organization.
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