That author seems to think that this was okay behaviour by Barclays, because the clients had choices and could think for themselves(ie caveat emptor)
I do not see how lying to your clients about the type of pool you have is ok. If it is necessary to have some HFT operators in your pool then do not be a chicken and come out and say so. Is honesty not the best policy anymore?
You can be getting the best deals(fills in this case) and still feel like getting a bad deal. It is human psychology.
Let's say you find the best deal on a specific car for $10,000. Dealer claims that you are not paying any dealer markup over retail. However, later you find out that there was a special promotion from manufacturer, where dealer got the cars for $1,000. Even though you realize this was not something you could get yourself you would still feel miffed that you were not given a larger discount.
I admit my example doesn't have very realistic numbers.
I think he pretty clearly comes down against false advertising and giving up your fiduciary duty to your clients. Those are the real issues in the court case.
His main point, and one that seems to be missing in most articles about dark pools, hft, etc. is that buy side investors are as sophisticated (or should be if they are to get away with charging their crazy management fees) as sell side participants. The whole reason they have high paying finance jobs is to provide to their clients the service of making sure they are getting the best execution they can.
Do you perhaps live somewhere fairly arid? Even so, I think it's still all about location.
25C is regarded as very pleasant weather here in the southeast US - a nice early spring or late autumn day. :) Humidity is generally in the 80%-90% range when the weather is warm, and from mid spring to mid fall the temperature is generally ranges from 30-35C and sometimes gets up to even 40C.
In that kind of weather even a brisk walk will leave you drenched in sweat and you wear out very quickly because your body can't cool down, since evaporative cooling doesn't work. The temperature alone isn't bad at all - I've spent time in SoCal when it was ~100F - it's the humidity that gets you. Nobody bikes to work here - you'll sometimes see bicyclists on the road but for recreational purposes. I think it would be a fine thing in winter, but my commute is 35 miles of open highway.
So I end up going to the gym and doing a lot of yardwork. I'd like to include something like biking to work in my routine, but it's just not practical for me right now.
The drives are expensive still, largely because the consumer level products no longer exist. Unfortunately a USB hard disk is the closest thing to backup that most consumers will touch. and for these that are serious other technologies tend to take the place.