Ban HFT

High Frequency Trading needs to be banned. Yesterday's action in the market clearly shows that HFT contributes to volatility and systemic risk. Of course, the media immediately blames human error. Someone hit "b" for billion, instead of "m" for million. Really? Maybe, but I doubt it. I think that most of the computers trading for market makers on the exchange exist to front-run other traders and/or move the price up whenever volume is low. However, these buying programs turn off and run as soon as volume picks up. Although not a likely explanation for yesterday, it is possible that someone found that point, crashed the market, and bought back cheap. Goldman Sachs anyone? They're the HFT leaders, and they're big enough to do it.