Part 24 (1/2)

41 ability to complete a transaction in 124 microseconds

Donald MacKenzie, ”How to Make Money in Microseconds,” London Review of Books, May 19, 2011.

42 according to some experts will further increase

Ibid.

43 ”financial market of which we have virtually no sound theoretical understanding”

Brandon Keim, ”Nanosecond Trading Could Make Markets Go Haywire,” Wired, February 16, 2012.

44 ”mystery algorithm”

John Melloy, ”Mysterious Algorithm Was 4% of Trading Activity Last Week,” CNBC, October 8, 2012, /id/49333454/Mysterious_Algorithm_Was_4_of_Trading_Activity_Last_Week.

45 enabling them to make a fortune by shorting French bonds

Christopher Steiner, ”Wall Street's Speed War,” Forbes, September 27, 2010.

46 make a similar fortune by shorting bonds from the Confederacy

Ibid.

47 to transmit information over the 825 miles

Ibid.

48 what many economists call the financialization of the economy

Ibid.

49 1980 to more than 8 percent at present

Thomas Philippon, ”The Future of the Financial Industry,” Stern on Finance blog, October 16, 2008, sternfinance.blogspot.com/2008/10/future-of-financial-industry-thomas.html.