“The SEC is still a ways from any new policies to address issues posed by high speed trading, especially because the new research office still needs time to do its analysis.” Mary Schapiro said.
I have often said on CNBC, FOX and other networks and in lectures and speaking engagements that 4 out of 5 commissioners of the CFTC have no trading, clearing or exchange experience. It is time to get people who understand the new markets into positions to safeguard the public.
I have said before the markets have gotten away from the very people who invented and regulate them. In time if the regulators do not get together and regulate the markets as a “world market “ and realize that more than ever they are all connected then big bang theory in markets is what they will do a Harvard case study on when they look back and ask how could we have let this happen. HAL comes to mind.
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