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Wall Street Road Wrecks: Too Fast or Too Stupid?

Thursday, 2 Aug 2012 | 12:15 PM ET

In the wake of the Knight Capital software problem that disrupted stock trading Wednesday morning, a spirited debate over whether Wall Street needs to slow down. In these excerpts from "Fast Money Halftime," Douglas Kass of Seabreeze Partners and FM trader Jon Najarian argue that the technology that allows for very high-speed trading is prone to breakdowns that erode investor confidence. Irene Aldridge of ABLE Alpha trading, a high-frequency trading proponent, counters that people, not technology, are the problem and they should be held accountable for their mistakes. Former SEC chief economist Chester Spatt argues that restricting the speed of trading would reduce competition.