With due apologies to Mencken, this sounds like market Puritanism: the haunting fear that someone somewhere might be making money. In truth, whenever read closely, the "problems" these proposals aim to solve invariably turn out to be nonsense.<p>There is one truly good reason to put an end to the HFT arms race: it's absorbing the time and talents of some of the greatest minds of our generation. This isn't just true of HFT, though--it's a problem for finance in general. If we want these people doing science instead, though, we're going to have to pay them to do it. Currently we're not.