tangaroa | 60 minutes on the stock market (Reply)

60 Minutes had an interesting piece on the stock market. Apparently all the talk about "high frequency trading" has little to do with algorithms anymore and is more about the HFT companies running MITM attacks on other traders, intercepting their trade orders, and using their own fiber lines to put in new trade orders quickly enough to raise the price before the original trade order gets in.

What's also interesting is that "anymore" was two years ago. 60 Minutes seems to have held back the story until someone had a book to sell, and they spent the end of the segment hawking the new company of one of the guys who identified the problem. Recall that the Benghazi report was based on someone who had a book to sell, which turned out to be a problem when CBS repeated some of the bullshit he had put in the book to make it more exciting. At least this latest book is not being published by a CBS subsidiary.