Nonsensical 'study' of High-Speed Trading

While I am critical of some aspects of high-frequency trading - esp the speed advantage that technology provides and which undermines the principle of priority and precedence - this study by a CFTC economist does not cut the mustard. That futures trading is a zero-sum game is nothing new and that those active on a daily basis want to - and have to - make a profit should not be seen in a negative way. After all, who complains about the profits that the casino operators in Las Vegas make? Without them there would be no gaming industry. So let us have more studies, but above make them relevant. This should mean that real abuses get uncovered and the guilty punished. Oh, and what happened to those responsible for MF Global - management as well as regulators?