The CFTC: Crash Boys - Michael Lewis

Two days later the CFTC's chief economist, Andrei Kirilenko, e-mailed Hunsader. "He invited me out to D.C. and I talked with everyone there (and I mean everyone -- including a commissioner)," Hunsader says. "The CFTC then flew out a programmer to our offices where we showed him how to work with our data. Took all of a day. We sent him back with our flash crash data, and that was pretty much the last we heard about that project."

... It would also be interesting to know how it occurred to Sarao that his trick might work. There's a fabulous yet-to-be-told story here, about a smart kid in the U.K. who somehow figures out that the machines that execute the stock market trades of others might be gamed -- and so he games them