Much of Wall Street is out performing damage control to explain how the situation is very complex and no one can explain how they are robbing the majority. Actually, it's not that difficult to understand compared to the kind of mysteries that scientists routinely unravel.
The big mystery to me was why it took 18 months for Bradley Katsuyama's team to discover what was going on. It would have taken much less time if they had a physicist on their team.
Consider JILA professor and NIST scientist Judah Levine, aka the nation's "time lord". Back in the early 1990s, he explained to me (a graduate student at the time), how, when delivering time standards over telephone lines (and, later, over the internet), he had to take into account the time it takes for the signal to get to the other end. Is the phone line copper or fiber optic? He also helped develop time synchronization via satellite (Navstar and GPS)*. This is in addition to his geophysics research determining the source of earthquakes and other underground motions.
If they had Judah on the team, he would have solved the mystery over lunch.
Fun cocktail party tidbit:Why can you read about military satellite launches before they happen all over the internet? Because there is no longer any point in trying to hide them. To find out when a military satellite will be launched, one only has to try to book a hotel room near a launch range and note the price.
Prices spike whenever a launch is about to take place. If hotel rooms are expensive and scarce, but the open launch manifest of nonmilitary launches shows nothing, then you know what must be happening.
You don't even have to call up the hotels anymore. Your software robot can just query the hotel websites regularly.
Information leaks happen all the time, with real-world implications.