Dem Senator on Flash Crash: Told You So

ABC News’ Rick Klein reports: Long before last week’s “flash crash” sent the market tumbling for still-mysterious reasons, Sen. Ted Kaufman, D-Del., was warning about the potential impact of “high-frequency” trading on the markets. Now, Kaufman said today on “Top Line,” Congress is set to hold hearings on the subject, and the Securities and Exchange Commission is getting the message. “I think this is a wakeup call,” Kaufman said, “and I'm not — I don't know how to say this and not sound like I'm, you know that I'm good — I don't think I was that good — but last September I talked … about this very thing.” He added, “I think last Thursday did it more than anything I could say, or any politician could say. I think the SEC's gotten the message: We cannot have this happen again.”