Jon Stewart On HFT: “It’s Not American; It’s Not Even Capitalism. It’s Cheating”

Wednesday, April 2, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/02/2014

John Stewart is stunned by the world of HFT (where “stock exchanges sell the right to advance information to high frequency traders [by locating their computers closest to the exchange]”) and the mainstream media’s immediate jump to defend it “as good for us”, but as Michael Lewis explains “anyone whose livelihood is dependent on Wall Street [from CNBC, FOX and even the SEC] is invested in this… it sounds like a conspiracy.” As Lewis explains, HFTs “function on volume and volatility” alone and “they know the prices before you do… which is illegal if it’s a person, but as a computer, meh?”

The Rest…HERE

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