Mary Jo White confirmed what everyone on Wall Street has been saying for weeks: Michael Lewis is dead wrong. Responding to a question about Mr. Lewis’ controversial book, “Flash Boys,” the SEC Chair told Congress: “The markets are not rigged … [they] are the strongest and most reliable in the world.”
As the founder and CEO of an electronic market-making firm, you might think I’d be upset with Mr. Lewis for badmouthing my industry. In fact, I’m grateful to him for giving Wall Street something rare: an opportunity for those of us in the financial-services industry to work together for the greater good.
