High Frequency Scapegoating
Posted on October 19, 2012 at 10:17 AM EDT
As soon as I heard about Google tanking 10 percent, leading to a trading halt, in response to a prematurely released earnings announcement, I asked myself: “I wonder how long before someone blames HFT.” I didn’t have to wait long. Almost immediately afterwards, Jim Cramer (gag) and Harvey Pitt were on CNBC putting the blame [...]