Across the border in syria. That can be done with manned aircraft. But retaking the cities is not a job for manned aircraft. Too much of a risk of civilian casualties. Thats when the drones come in. Both of these require better intelligence on the ground. So why cant the iraqis get the intelligence . The iraqi Intelligence System is still relatively new. We set up a an Intelligence Ministry effectively in early 2004. You dont develop a robust Intelligence System, obviously, overnight youchlgt say well its a decade. Yeah its a decade but it takes time. They relied during surge very much on american intelligence, people on the ground who could help the drone strikes, for example. So youre trying to take mosul. You need somebody on the ground who says the bad guys are in that building not that one because a drone strike is a precision strike. And hopefully reduces Collateral Damage and civilian casualties. You cant do that with an f16. Well go to john next in win some say lo winstonsalem,
Advantages at unfathomable speeds earning billions off price differences measured in pennies. Were in the era of high speed trading. I am troubled as are many by some of its hall marks. It is an era of market instability as we saw in the 2010 flash crash. This subcommittee and Senate Banking committee shared in a hearing. It is an era in which stock Market Players by the right to locate their Trading Computers closer and closer to the computers of stock exchanges confirm a little speed advantage yielding massive products. It raises the question of whether much of what we call the market is in fact an illusion. Many, including this senator question whether the rise of high speed trading is overall a good thing for markets and investors. But without question, this era has seen a rise of conflicts of interest. These conflicts will be my focus today. Other senators may focus on this or other aspects of high speed trading. New technology should not erase enduring values. Financial markets c
Participate. I wonder if the stock exchanges are still a place where their interests matter. Hopefully this hearing will shed light on the trading practices used on wall street and help restore confident on the financial system. T while the problems facing the market are complex, we can address them with a few common sense solutions. For example, one of the most predator High Frequency trading practices depends on the unintended consequences of the secs regulatory National Market system or regular mns. That mandates that investment firms must buy or sell stocks at the best price available. While that might sound like a reasonable requirement. High frequency trading firms can take advantage of the rule by putting out offers to buy or sell small amounts of stock at attractive prices. When a large investmentor seeking to make a big order accepts the High Frequency trading firms offer because its the best prize available, the High Frequency trader can predict that he will have to go to ano