Wall Street Road Wrecks: Too Fast or Too Stupid?

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In the wake of the Knight Capital software problem that disrupted stock trading Wednesday morning, a spirited debate over whether Wall Street needs to slow down. In these excerpts from “Fast Money Halftime,” Douglas Kass of Seabreeze Partners and FM trader Jon Najarian argue that the technology that allows for very high-speed trading is prone to breakdowns that erode investor confidence. Irene Aldridge of ABLE Alpha trading, a high-frequency trading proponent, counters that people, not technology, are the problem and they should be held accountable for their mistakes. Former SEC chief economist Chester Spatt argues that restricting the speed of trading would reduce competition.

Melissa Lee anchors a fast-paced discussion among four professional Wall Street traders. An hour after the bell Fast Money hosts one of the best trading discussions of the day.

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