Poll: Does High Frequency Trading (HFT) Add Economic Value?

“We are doing God’s work,” said Llyod Blankfeign of Goldman Sachs. In 2008 Goldman saved its existence by converting itself into a regular bank. They are still classified as a deposit institution. But a bulk of what they do is investment banking and trading. Most of their profits come from proprietary trading. In other words, Goldman is a hedge fund classified as a bank.

The question for the poll is:

Does high frequency securities trading (aka HFT) by prop desks at investment banks add any economic value to the system?

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Admin
I am a professor by trade and 100% pure Gongura Gulute by birth. I believe in “survival of the fittest” mantra, but my philosophy is to “live and let live.” Therefore, I am at neither extremes of the political spectrum. I am an independent and I love it that way.