Senator calls for ban on High Frequency Trading

Do I care that Goldman Sachs is my enemy now?
Do I care that Goldman Sachs is my enemy now?

Pseudonymous blogger Tyler Durden at Zero Hedge lit the fuse here. (His name comes from Brad Pitt’s role in Fight Club.) Now a senator has joined in.

It was only a few months ago that a blogger calling himself Tyler Durden and writing for “Zero Hedge” started to call attention to a Wall Street electronic trading technique called “high frequency trading.” Now Senator Charles Schumer has called for a high-frequency technique called “flash trading” to be banned by the SEC.

The NY Times is also all over this story too. Kudos to Zero Hedge. This is yet another example of how blogs were early and right on financial news. After all, it was blogs like Calculated Risk who warned early about subprime back when mainstream media was asleep at the wheel

No one knows who Tyler Durden is. Because of his superb and passionate investigative reporting he has now made powerful and politically well-connected enemies and deserves our support.