My Weekend Reading
Wired Magazine’s How Wall Street Got Addicted to Light Speed Trading. There may be positives to High Frequency Trading in terms of efficiency and/or liquidity gains. But to me, the practice looks like sanctioned gaming of the system by large institutional players at the expense of investors. One that would not be possible if we had a regulatory structure whose main focus was serving the public, rather than the industry’s, interests.
h/t Barry RitholzTags: banking, Politics