, Columnist
Front-Running and Founder Control
Also active vs. passive, dialysis payments, vast majorities and bank regulation.
Front-running.
I never really worked on a trading desk, but I worked on a desk that looked like a trading desk, which meant in particular that I had (1) no privacy but (2) a turret phone. Sometimes that felt like a fair tradeoff. The turret had dozens of lights that let me see who else on my floor was on the phone, and dozens of buttons that let me pick up their lines to see if anything fun was happening. This resulted in various low-grade hijinks (pick up someone's line while they're on a client call, say weird thing in weird voice, giggle) that I may one day recount in a very boring Wall Street memoir, but it never (that I know of!) led to anything quite like this: