Last week's stock crash an accident?

[68Charger]

Tin foil warning- there's no proof, but started hearing this rumor (and not from this site, but this is the 1st link I was sent):

http://www.groundreport.com/World/Who-Hacked-the-New-York-Stock-Exchange/2923022

my initial reaction is that it's possible, but wouldn't someone claim responsibility if it was cyber-terrorism?

but they're having trouble proving the "fat-finger" theory

[iamhunter]

I'm pretty skeptical that anyone would make that big of a mistake. If I was trading in the millions, I would check, double check, triple check, and then photograph the input before committing the trade.

[Marlin]

In a way, more plausible than the "oops" story..

In combination with a few other things I have run across..

[cowboykjohnson]

I'm pretty skeptical that anyone would make that big of a mistake. If I was trading in the millions, I would check, double check, triple check, and then photograph the input before committing the trade.

+1

[rhineoshott]

I don't think I'll believe this one.

[68Charger]

warning: accounting-speak almost as hard to decypher as lawyer-speak

http://www.zerohedge.com/article/dissecting-crash

[TS12000]

My uncle was a broker for the majority of his adult life and told me this kind of mistake doesn't get made. I'm not saying it's cyber terrorism or anything like that but was probably not the broker's fault. I wouldn't doubt something (like a memo or sell order) comes out where he had been told to release that amount and was the typo of someone else.

[theGinsue]

Very interesting!

[BigBear]

I think it's the computer model. There was a bad sell that plunged the market, then the algorythmns started pumping data and the computers started to sell stuff off due to their modeling... and it sank. Since it was computer modeling, the humans in charge couldn't react fast enough to save the thousands points or whatever it ended up being. I personally think we give computers too much control of our life. No I don't think some AI is going to take over our networks soon or something. However the capability is not too far ahead in our future. Give it a couple hundred years, if we are still around. As far as the hacking scenario... it could happen. It's all wires and stuff, real money isn't changing hands. Humans made it, humans can hack it.

[jerrymrc]

In the year 2525.........

[BigBear]

In the year 2525.........

haha... I'll be back!

[theGinsue]

I personally think we give computers too much control of our life. No I don't think some AI is going to take over our networks soon or something. However the capability is not too far ahead in our future. Give it a couple hundred years, if we are still around. As far as the hacking scenario... it could happen. It's all wires and stuff, real money isn't changing hands. Humans made it, humans can hack it.


Personally, this is why I use Skynet. I've found skynet to be very reliable and the contract can be terminated at any time.

[TFOGGER]

I think it's the computer model. There was a bad sell that plunged the market, then the algorythmns started pumping data and the computers started to sell stuff off due to their modeling... and it sank. Since it was computer modeling, the humans in charge couldn't react fast enough to save the thousands points or whatever it ended up being. I personally think we give computers too much control of our life. No I don't think some AI is going to take over our networks soon or something. However the capability is not too far ahead in our future. Give it a couple hundred years, if we are still around. As far as the hacking scenario... it could happen. It's all wires and stuff, real money isn't changing hands. Humans made it, humans can hack it.

They got the date wrong...apparently Skynet became self aware a bit later than anticipated.....
http://alwaysnewmistakes.files.wordpress.com/2009/07/terminator.jpg

[ronaldrwl]

I call BS. It crashed because it's over priced and it will happen again. Obama's administration is in full spin control. With the problems in Spain pulling down the European Union, they are trying to keep their socialist dreams from unraveling.

[M2MG]

The "CRASH" was not an accident, all planned by those with the ability to move the markets. Check the volume in the options market 1/2 hour before the "crash". Big money made on big money lost.

The fat finger explanation is crap, do any of you really believe a computer program was designed to sell 1 billion dollars in stock and didn't have a question before you could execute the trade of something like: Do you really want to do this? Yes No.

M2MG

[BigBear]

Lol, you guys are great.

[TFOGGER]

ohnosecond

An ohnosecond is that very short moment in time during which you realize that you have pressed the wrong key and deleted hours, days, or weeks of work.


The alleged "fat fingerer" could elaborate on this definition....

[Mtn.man]

Frb