this post was submitted on 16 Oct 2023
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It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says (www.businessinsider.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says::undefined

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[–] Transcendant@lemmy.world -1 points 1 year ago

Would you mind furnishing that statement with some links, articles, or some info to back it up? Iirc he's ex-Goldman Sachs but he seems to be making moves that hedge funds / market makers do NOT like. Vs the previous guy who just let them do whatever they wanted.

If you want to see the actual baddies, look at the 'self regulating' agency which has gone to great lengths to hide swap data, and the company which enforced 'position close only' on a large number of stocks (kicking off the infamous GME saga). Hint: it wasn't Robinhood. Robinhood was just one of many brokers who were instructed to set multiple stocks (not just GME) to 'position close only' aka no buying, only selling.