Schwab and Others Confirm Status as Casinos, Purveyors of Financial Opioids

“Learn how to see. Realize that everything connects to everything else.” - Leonardo da Vinci "There's no such thing as a free lunch." - Milton Friedman Maybe I imagined it, but a couple weeks ago, I thought I saw an article claiming that Jack Dorsey, CEO of the world's largest kazoo - you know, the thing with the familiar harmony and enough dissonance to over-stimulate your reptilian id - was set to replicate Robinhood's free trading platform on Twitter. Sure. Why not? What could go wrong?! All businesses should aspire to thrive on the basis of frictionless impulses and whatever "dumb money" is still left on the face of the planet... Anyway, it seems that the search for that gem of strategic intelligence may have been catalyzed by recent announcements by none other than Schwab, Fidelity, E*Trade, TD Ameritrade, and Interactive Brokers - which is pretty much everyone within spitting distance of the retail brokerage universe - that they were all dropping commissions on stocks, ETFs and options to [...]