It seems that, thanks to a new book by Michael Lewis, finally there is some chance that there will be prosecution of the HFT bandits. Not by the SEC, of course – anything involving computers is beyond them unless it is porn – but from the NY Attorney General. Goldman has turned on the HFT mafia, I guess its own HFT operation wasn’t up to snuff (not enough Russians?) and it decided if it couldn’t make money from HFT, then no-one else would either.
HFT, of course, is just theft. No different than stealing credit cards. Thinly disguised with a veil of BS talking about “liquidity enhancement” blah blah blah.
Anyway, shutting these crooks down would be a major public service (shut down the useless SEC at the same time, please)