HFT arbitraged dumb traders and now wants to blame the Fed. GTFO. The Fed is in control of the market and thank god. Because if it was free wheeling right now, we'd see split second crashes and rallies, like TV Snow and the HFT algorithms would be fighting eachother to the death and taking the buy and hold crowd down with it.
Lack of understanding how the market works and supplanting it with quotes from incompetent and ideologically motivated media. HFT is about competition and free markets. Markets are not to be confused with entitlement program run by the government and their friends at the Fed.
It is so simple and it is amazing that anything needs to be explained. Two parties meet at the exchange and trade at the price they agree on at the moment of trade. It is free and voluntary. Nobody knows how many transactions a minute is good or bad and what is the correct speed or price volatility. This dynamics helped to create most fluid and free markets in the world that are the backbone of the most progressive economy in the world. Price is known after the trade took place. It is not entitlement program, there is no superior authority setting correct prices and there is no customer service taking returns. The only thing that is being agreed upon is the framework of the market: free and equal access to the marketplace and free flow of market information. And returning to the beginning of the discussion: the guy should be happy seeing the quote and price movement in response to his trades (and maybe hundreds of others hitting this price) in real time with low commission instead of complaining. Markets are unforgiving and competitive. Many players are there at the same time and everybody wants to make a profit. Since this is zero sum game the profit has to come from somebody and it is called loss.
Flash crashing kills confidence in the real market, which lies between two real human beings. The greater good is at stake. If that's free market then so be the consequences of ruining a century old platform to facilitate transactions between real humans.
I don´t care about Bernanke and his anti islamic movies. He can trade just with the help of Hollywood, poor boy.