High-Frequency Trading is Good

A couple of years ago I called into a local radio station to defend oil speculators. Today it's high-frequency traders:

Every innovation of this type makes the market more efficient. ... The faster we trade, and the more people you have trading, any aberrations that exist in the market are taken out of the market really really quickly, which makes for a fairer market for all participants ... Those prices are about as fair as they could be.

Here's a good video description of what exactly what HFT is.