Monetizing your privacy and the monopoly on high-frequency trading with Jaron Lanier
From 2007 to 2008, Fannie and Freddie tightened loan standards and eventually stopped purchasing subprime loans altogether. We all know what happened next. A new rule by the Federal Housing Finance Agency, which oversees the housing giants, will take effect next January. And, it would again tighten lending standards. Today we profile Mel Watt, Obama’s new nominee to head the agency. And how would you like to get paid for being a Facebook user? We talk with Jaron Lanier, the father of virtual reality and author of 'Who Owns the Future.' In his book he makes the case of the monetization of personal information. Then, we look at how the New York Fed recently released a study that concludes, “stocks are about as cheap as they've ever been.” Is this like when Irving Fisher said in 1929 that stocks had reached a permanently high plateau? Stay tuned, Perianne and Bob discuss the sustainability of current market trends.
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