The day’s trading numbers on May 6, 2010, when high-speed computing was blamed for a “flash crash” of more than 600 points on the Dow Jones industrial average, which partly recovered. Credit Lucas Jackson/Reuters

The day’s trading numbers on May 6, 2010, when high-speed computing was blamed for a “flash crash” of more than 600 points on the Dow Jones industrial average, which partly recovered. Credit Lucas Jackson/Reuters


We’re very encouraged by the rising swell of opinion in favor of slowing down the white-hot pace of financial trading with a transactions tax. There is still much work to do, and a preponderance of political influence and muscle and money on the other side, but Michael Lewis’s new book, an excerpt from which ran in last Sunday’s NYT Magazine, and this article two days ago are extremely heartening.

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