“Reg NMS was intended to create equality of opportunity in the U. S. stock market. Instead it institutionalized a more pernicious inequality. A small class of insiders with the resources to create speed were now allowed to preview the market and trade on what they had seen.”

— Michael Lewis , book Flash Boys

Source: Flash Boys (2014), p. 98

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Michael Lewis 40

American writer 1960

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“The U. S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that a nanosecond had value. The haves enjoyed a perfect view of the market; the have-nots never saw the market at all. What had once been the world’s most public, most democratic, financial market had become, in spirit, something like a private viewing of a stolen work of art.”

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“Government doesn’t "intrude" on the "free market." It creates the market.”

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“The more money to be made gaming the financial markets, the more people would decide they were put on earth to game the financial markets – and create romantic narratives to explain to themselves why a life spent gaming the financial markets is a purposeful life.”

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“The U. S. government has created a trade lynch law that can convict foreign companies almost regardless of how they operate.”

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“The stock market is not the economy, and the economy is not the stock market.”

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“Reg NMS was intended to create equality of opportunity in the U. S. stock market. Instead it institutionalized a more pernicious inequality. A small class of insiders with the resources to create speed were now allowed to preview the market and trade on what they had seen.”

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