If I recall correctly, the first time I used Java it was way back in JDK 1.1. It was amazingly slow. Of course, today's Java is fast enough for its domain, but I still enjoy throwing a jab at it here and there :)
Well, then you are just uninformed. Java can JIT compile hot loops to C speed. There is hardly anything it is not fast enough for, and if there is (a certain kind of HFT), then nor is a general purpose CPU (they use FPGAs).