Exactly. I believe that HFTs are not just unfair but do not allow the market to fulfill it's basic premise as effectively. The market is supposed to be fair an

Exactly. I believe that HFTs are not just unfair but do not allow the market to fulfill it's basic premise as effectively. The market is supposed to be fair and a level playing field for all those who can afford to buy stock, but the HFTs tilt the odds in favor of the select few. When the odds are tilted in favour of a select few, it becomes a problem for all. The bond markets are far less regulated, thereby allowing Wall Street to profit massively from confusion and a lack of regulation - Wall Street makes most of it's profits on the bond market. The result is that insane toxic assets get sold, all because the industry can supposedly self-regulate. Result: global catastrophe. (See "The Big Short" by Michael Lewis for a great read on how Wall Street caused the financial crash of 2008).