<i>13) "In August 2013, the Goldman automated trading system generated a bunch of crazy and embarrassing trades that lost Goldman hundreds of millions of dollar

<i>13) "In August 2013, the Goldman automated trading system generated a bunch of crazy and embarrassing trades that lost Goldman hundreds of millions of dollars..." Yes, but this was on the Options market, on Options exchanges, and has nothing to do with the rest of the book.</i> I'm beginning to suspect the author is flat out dishonest. The Goldman cock-up is used as a <i>defense</i> of Goldman. Lewis says that unlike other firms they had a legitimate excuse for not trading with IEX - they didn't trust their systems. So, no the cockup had nothing in particular to do with HFT, but Lewis never implied that it did, and it is impossible to read that paragraph and come to another conclusion honestly. The review author is not shooting straight.