[whyme]

I haven't read the book, but I've followed the chatter and have been listening to Lewis on Bloomberg. I get the impression that many justify HFT by comparing current or past alternatives, however his argument is that HFT is corrupting an otherwise fairer market place. In other words the market should improve and lessen these side businesses that victimize participants and add to the discredit of the exchanges.

If anyone thinks that these side business do not victimize participants you should look back to examples like Knight Capitals glitch that most certainly caused retail investors to lose trust and pull their money from the market, taking a loss. The introduction of non-relevant code is an unnecessary risk that does corrupt the system and does victimize your average investor.

1. http://www.telegraph.co.uk/finance/newsbysector/banksandfina...