Lawmakers caution the SEC on assigning blame for the "flash crash"

09/1/2010 | Reuters

Reps. Spencer Bachus and Jeb Hensarling sent a letter to Mary Schapiro, chairman of the Securities and Exchange Commission, urging the regulator to do a thorough analysis of the May 6 "flash crash" before blaming high-frequency traders for the market plunge. The Republican congressmen wrote that "turning back the clock" on market innovation "could do more harm than good."

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