It was neither healthy nor good when public stock exchanges introduced order types and speed advantages that high-frequency traders could use to exploit everyone else. This sort of inefficiency didn't vanish the moment it was spotted and acted upon. It was like a broken slot machine in the casino that pays off every time. It would keep paying off until someone said something about it; but no one who played the slot machine had any interest in pointing out that it was broken.

He now suspected that every human being who knew how high-frequency traders made money was making too much money doing it to stop and explain what was going on.

Yes, it was unfair (Directly quoted in Greek as "Ανφέρ")

The role had been spawned by the widespread belief that traders didn’t know how to talk to computer geeks and that computer geeks did not respond rationally to big, hairy traders hollering at them.

The free-traders were against all State interference of any kind; they were against the Factory Act, they were opposed to the laws to prevent fraud and adulteration, especially in the interests of the working classes, they were against trade unions, they were in favour of unlimited competition, they would buy everything in the cheapest market and especially labour... [W]e cannot logically and consistently attempt to defend labour against unfair competition without defending at the same time against unfair competition the product of that labour.

You might think that institutions, with their large staffs of highly-paid and experienced investment professionals, would be a force for stability and reason in financial markets. They are not:

A scheme is unjust when the higher expectations, one or more of them, are excessive. If these expectations were decreased, the situation of the less favored would be improved.

Insider trading is a serious crime. Do you know what the penalty for doing it is? Nothing, if you’re a member of Congress.

It wasn’t fair, but fairness was something you had to go get; it wasn’t delivered like the mail.

UNFAIR Term applied to advantages enjoyed by other people which we tried to cheat them out of and didn’t manage.

It is essential, when persons in trade come into this Court, that they should remember that the administration of equity is founded on perfect truth, and that if persons attempt to mislead the public by stating that which is not true, this Court will restrain them upon a clear case being made out against them.

Persons in trade had better be very cautious how they add a fictitious name to their firm, for the purpose of gaining credit.

The enemy of market system isn't some pot-smoking hirsute communistic hippie, but a suit wearing banker or Federal Reserve employee.

[About unfair methods of competition:] What are the dimentions on which firms are or are not permitted to compete? Should we be having firms competing on who can surveil users the best or who can undercut their workers the most, or do we want to be having companies compete on dimentions or privacy that are actually better serving consumers or workers?