Sunday, March 30, 2014

Michael Lewis interview

Michael Lewis will be on 60 Minutes tonight talking about his most recent book on high frequency trading, Flash Boys: A Wall Street Revolt, due out tomorrow. I haven't read the book, but CBS offers a glimpse into it in its tease of the segment. Also appearing will be Brad Katsuyama, founder of the new exchange IEX that is designed to thwart high frequency traders, and David Einhorn, who has invested in the exchange.

Lewis wrote a lengthy piece last fall for Vanity Fair that reinvestigated the case of Sergey Aleynikov, the programmer who was sentenced to eight years for stealing code from Goldman Sachs. In a discussion with New York Times contributing writer Diana Henriques on Friday Lewis said: “It was curious to me that in the aftermath of the greatest financial crisis of modern times” — in which Goldman Sachs played a key role — “the only time someone ends up in jail is when it’s someone that Goldman Sachs wants to put in jail.”

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