Michael Lewis

They all kind of know something's wrong.

They go to the hedge fund manager, Bill Ackman, who was always buying companies and selling companies.

He thought that he had a leak, like insider trading leak.

He said the market was so able to anticipate what he did in the market, he thought someone inside his shop was leaking information about what he was doing.

Which would be illegal.

Which would be illegal.

But if a computer does it.

It's okay.

Especially if it's America.

Especially if it's America.

But it's, but it's, but, but the, the, so, so the, he, this, he goes on this, he educates people.

Right.

And they say to him,

you know, create a fair place for us to trade.

I mean, I think that, so in a way, he was answering a call.

So you're back away from the whole thing.

It looks like there's an ecosystem that's built itself around high-frequency traders making money.

You know, skimming profits, scalping people in the market.

They pay the exchanges for special access, for special information that ordinary investors don't have.

They pay the brokers, the people who handle stock market orders, for your order.