May 6, 2010
May 6, 2010
I have read and respected Professor Angel's work for many years. It is unfortunate that less than a week after he wrote here "The equity market structure is working better than ever" our equity markets lost $1 trillion and made it back, all in about 15 minutes.
We don't know what happened, but something systemically important happened in that 15 minutes. I hope the SEC investigates those 15 minutes thoroughly and reissues the Concept Release with its findings, along with a call for more comments.