Why Should We Care About the Heroes of Wall Street? (Brooklyn Magazine)

Screen-Shot-2014-04-02-at-2.41.03-PMMichael Lewis has a pronoun problem. The superstar author of books like Moneyball and The Big Short (and former Wall Street trader), Lewis is in the midst of promoting his latest book, Flash Boys: A Wall Street Revolt. It’s the story of how a small group within Wall Street, named high-frequency traders (HFT), has used unimaginably fast computers to trade stocks at speeds at several hundreds of times faster than the blink of an eye, giving them an unfair advantage; one graph in a recent New York Times Magazine excerpt of the book showed 44 trades of General Electric in one-tenth of one second. “The stock market is rigged!” Lewis told 60 Minutes, and Fresh Air, and the countless other outlets on which he’s appeared in the past week.

 

 

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