Will FBI investigation help Wall Street?
04/15/2014 2:04 PM
04/16/2014 2:11 PM
Re "Finance industry sops up billions" (Viewpoints, April 15): Paul Krugman does an excellent job explaining what is happening on Wall Street. The same problem was explained on "60 Minutes," and I also learned from a TV newsprogram that the FBI is investigating these high speed traders.
According to some sources, about 50 percent of all trades are now done this way to the disadvantage of a normal trader who has no access to these specialized computers.
This would eventually lead to a situation where a clique could control the market at will. Such practices do nothing to stimulate the economy and benefits only a very special group of insiders who own these computers and thereby make tons of money.
No wonder the average investor does not have a chance to compete and many have left the market altogether in disgust.
-- Frank Gladik, Elk Grove
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