New York Times This Morning on Michael Lewis's New Book

http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html  

CNBC and Michael Lewis' New Book on High Frequency Trading

Cramer and David Faber are off the mark just now in saying that Michael Lewis isn't "saying anything new."  It's the difference between eating a cake and making a cake.  Michael Lewis, interviewed at length on 60 Minutes last night, can make the cake.  He can get to the core thought that makes the complex understandable.  In this instance Cramer can only eat the cake: he has been talking about high frequency trading for years now, but he never grasped or communicated the core concept that made it understandable. Cramer said that it was closeness to wall street that won the day for the HFTers,  and that's true, but that's only a vague and a half of the story.  It's the HFTer seeing that huge order (to buy or sale), executing on part of it and then putting an order for the rest at the same or a higher price and reselling to the buyer at a higher price.