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Tim Quast
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We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

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May 31, 2004

Main Street and Wall Street Unity

By Gregory Bresiger

What's good for Wall Street is now good for Main Street because the class divisions in America have been breaking down. That's what Congressman Vito Fosella, (R-New York), told members of the Security Traders Association at its recent Washington conference.

"The days of class warfare are gone," Fosella told the STA. He said it is because tens of millions of Americans now own a piece of the stock market either through qualified plans or in direct ownership of stock. "The days of pitting one group against another are gone. What's good for Wall Street is now good for Main Street," he added. Fosella said that the majority of Americans now have a stake in a "robust" stock market.