Stop High Frequency Trading-an open letter to Mary Shapiro
To: Mary Shapiro
Head of the SEC.
High Frequency Trading is dangerous. It is ruining the markets.
We will lose the small investor.
We will have a 2000 point down day.
It is so obvious.
You missed madolf,Standford,subprime,uptick rule,CDO's,CDO squared,rating agencies,subrime etc.,etc
For once, could we ever be ahead of the curve?
What redeeming quality does doing 10000 trades a nanosecond have?
Liquidity? stupid. we didnt have liquity problems for 200 years without the machines.
Please address this issue and stop it
up 5% down 4% up 4% down 5% up 4%-one week
Of course its HFT.
The Advisors of America