File under --duh. The money game is rigged

[underpants]

http://touch.orlandosentinel.com/#section/-1/article/p2p-79754609/

Lewis says that high-frequency traders are "able to identify your desire to buy shares in Microsoft and buy them in front of you and sell them back to you at a higher price."

He adds: "The speed advantage that the faster traders have is milliseconds … fractions of milliseconds."

Kroft also talks to Brad Katsuyama, who started a new exchange, IEX, in hopes of leveling the playing field.

"They slowed down high-frequency traders' ability to trade on their market," Lewis says of IEX.

Hedge fund manager David Einhorn of Greenlight Capital backs the new exchange and predicts it is "going to succeed in a very big way."

[Callmecrazy]

1. Just saw this on 60 minutes