Eliminating decimalization is basically just a way to increase the profits of market makers at the expense of retail and other long term investors. Minimum increments are just a minimum wage law for high frequency traders.
Yeah, what a weird solution to his supposed problem.
If I saw a blog post titled "Unshackle the Middle Class," I would never in a million years have guessed that one of the unshackling mechanisms was a return to "IBM was up three-eighths, closing at sixty-seven and five-sixteenths."
I blogged about this last year:
http://www.chrisstucchio.com/blog/2012/hft_whats_broken.html
http://www.chrisstucchio.com/blog/2012/subpenny_rule_respons...