CBSNEWS: How HFT changed Wall Street

How Speed Traders Are Changing Wall Street - 60 Minutes - CBS News

New Jersey stock trader Manoj Narang says his firm has never had a losing week because his super computers are fast enough to capitalize on split-second opportunities in the market. Narang and other traders are using a legal but controversial technique called "high-frequency trading."

It played a role in a 15-minute, 600-point market meltdown last spring now known as the "Mini Market Crash." Correspondent Steve Kroft talks to Narang in a rare chance to see such a business up close. He also speaks to SEC Chair Mary Schapiro - who has high frequency trading in her regulatory sights - and others for a "60 Minutes" report to be broadcast Sunday, Oct. 10, at 7 p.m. ET/PT.
 
Note the strong physical resemblance between Larry Leibowitz, the NY Stock Exchange guy in the 60 Minutes video, and Daily Show comedian Jon Stewart?

You should, as they are brothers (Jon Stewart's original name was Jonathan Stuart Leibowitz).

Jon Stewarts Cramer Battle - Deal Journal - WSJ

Daily Show: Jon Stewarts Big Brother Speeds up NYSE - Deal Journal - WSJ

Stewart v. Leibowitz: Will Host Go After His NYSE-Exec Brother? - Deal Journal - WSJ

Jon Stewart Right Now -- Daily Intel

http://blogs.reuters.com/summits/2010/03/29/jon-stewarts-brother-says-mom-pretty-happy-with-both/



 
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