On Wall Street, the Rising Cost of Faster Trades

http://www.nytimes.com/2012/08/14/business/on-wall-street-the-rising-cost-of-high-speed-trading.html?pagewanted=all

---------- Forwarded message ----------
From: barry levine 
Date: Tue, Aug 14, 2012 at 1:58 PM
Subject: re: On Wall Street, the Rising Cost of Faster Trades
To: letters@nytimes.com


To the Editor;

    Doing the wrong thing more efficiently is a poor substitute for doing the right thing. Yet efficiency is easy to quantify and right is often elusive.  Faster, cheaper trading has made Wall Street less an engine to provide capital to build and innovate than a casino for speculators. To get money into ventures that will create wealth over the next decade, rather than post paper gains over the next milliseconds, we need to impose transaction fees like those Europe already has.

Barry Haskell Levine