Wall Street's Biggest Debate

The big debate on Wall Street this week surrounds the world of high-frequency traders, the subject of Michael Lewis' new book, Flash Boys. A story on CBS's 60 Minutes this past Sunday featured an interview with the author in a segment highlighting the speed advantage that high-frequency traders have over regular investors, and how they can bid up the price of each transaction as it happens, and make a profit as a result. Since the story broke, however, two camps have formed: one in support of the author's case, and the other suggesting that high-frequency trading has, in fact, stabilized the market with increased liquidity and has resulted in a net positive for investors by dramatically narrowing bid-ask spreads.

In this segment from Friday's Investor Beat, host Chris Hill and Motley Fool analyst James Early take a look at both sides of the argument, with Charles Schwab (NYSE: SCHW  ) on one side, and Jack Bogle on the other.

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