*Update: Check out the Q&A session. Adair Turner makes some very interesting remarks about high-frequency/algorithmic trading. In particular, he questions their social value by first supposing that such algorithms are not destabilizing in and of themselves, and then asking the audience to consider under these ideal circumstances whether or not they are really necessary as a price discovery mechanism or whether they provide liquidity in a socially useful way.*

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## Monday, March 28, 2011

### Financial Intermediation...

Another brilliant segment from the recent IMF conference on Financial Intermediation. I particularly recommend the last two speakers: Hyun Song Shin (who comes on at about 45 minutes) and Adair Turner of the FSA (who follows Prof. Shin).

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