Mr. Algo: An Electronic Trading Luminary Switches Sides to Join SEC

Also, a roundup of 'under-the-radar' news from Gensler's House Testimony; We the Investors' Lauer gives his report card on SEC chief; McHenry has a new stablecoin bill

Nobody at the SEC has any actual, hands-on experience in the markets. That, of course, is a standard Wall Street complaint, and it seems to have reached a crescendo under Chair Gary Gensler as he tries to impose a sweeping remake of stock trading rules.

One problem, however: that protestation is no longer true. A few months ago, the agency (without any p…