Michael Lewis: ‘Technologists Are Displacing Traders’

In his ongoing media blitz, Flash Boys author Michael Lewis told Bloomberg Surveillance that a big part of why Wall Street has evolved the way that it has in the last few years has been the inability of some established banks to appreciate the newfound importance of computer programmers.

Michael Lewis: HFT driven by IT, not traders

“The technologists are displacing traders,” said Michael Lewis. “The people who program the computer, their status has gone through the roof… It appears the big banks have a hard time getting their mind around the technologists, the IT guys, being the same stature as...