FLASH BOYS Inflames Wall Street

Flash BoysIt’s being called “the fight that stopped trading on the floor of the New York Stock Exchange,” a live debate on CNBC that included Brad Katsuyama who is featured in Michael Lewis’s book, Flash Boys, (Norton; S&S Audio). Highlights below (the full 23 minutes are here).

Lewis tells Bloomberg BusinessWeek that he never anticipated the level of reaction this book is getting, citing Andrew Ross Sorkin’s column in the New York Times, which accuses Lewis of reserving “blame for the wrong villains … hedge funds and investment banks … easy targets,” rather than the “true culprits,” the New York Stock Exchange, Nasdaq and other stock markets. Even though Sorkin calls Flash Boys an “important new book … a make-your-blood-boil read about the abusive way that high-frequency trading works,” Lewis calls Sorkin’s column “an idiotic piece of journalism.”

Time to order more copies; with this level of passion, Flash Boys will be talked about for a long time to come.

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