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60 Minutes: How Speed Traders are Changing Wall Street
It may surprise you to learn that most of the stock trades in the U.S. are no longer being made by human beings, but by robot computers capable of buying and selling thousands of different securities in the time it takes you to blink an eye.
an earlier story from NPR' Planet Money : High Frequency Trading
High-frequency trading makes up 61 percent of the trades in U.S. stocks. That means 61 percent of trades are done every day by mindless computer robots making fractions of a penny in fractions of a second.
As far as I can tell, the only thing that's changed is the rich get richer even faster.
Remember boys and girls, casinos are not non-profit organizations. You may not always lose, but the house always wins.
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