Lawyers for Michael Lewis, the author of “Liar’s Poker” and “Moneyball,” asked a judge to dismiss a lawsuit by a bond manager who claimed Lewis’s book about subprime mortgage investing, “The Big Short,” defamed him.
The technological arms race among professional equity traders threatens to destabilize U.S. markets and more should be done to limit their speed, according to New York Attorney General Eric Schneiderman.
The U.S. stock market is rigged when high-frequency traders with advanced computers make tens of billions of dollars by jumping in front of investors, according to author Michael Lewis, who spent the past year researching the topic for his new book “Flash Boys.”
One grim night before Lehman Brothers Holdings Inc. imploded, trader Jared Dillian drank himself into a frenzied scream, hugged his cat and downed half a bottle of the only drug on hand: Tylenol PM, he says.
Valerie Thompson went from a childhood hawking fish, fruit and vegetables in London’s run- down East End to a Eurobond star at Salomon Brothers Inc. when it was the world’s biggest trading firm. Like the successful trader she was, she got out at the top.