In what might read as a prologue for my book, none other than the Wall Street Journal writes today that the real villains in the ongoing high frequency trading debate are our financial regulators.
Truer words were never spoken.
While America is fed a steady diet of technical terms on latency, co-location, and the like, let’s redirect the focus to where it really belongs, that is a financial regulatory system that has served to promote and protect Wall Street rather than upholding its mandate to protect investors.  The evidence is overwhelming and there is very real corruption that has transpired in the process.
As the WSJ concludes:
. . .  if New York Attorney General Eric Schneiderman and others looking for headlines want to string up high-speed traders, honesty requires them to put the regulators at the front of the rope line.
Now that’s what I’m talking about.
Let’s start with an independent investigation with the power to subpoena. Then get Chris Cox and Mary Schapiro in here.
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