Pangloss Posted September 8, 2008 Share Posted September 8, 2008 I wasn't sure where to put this, it's kind of a "current events" story, but it wasn't political and it wasn't computer science, so this seemed like the logical place. Check out this Forbes story: http://www.forbes.com/home/2008/09/08/ual-tribune-bankruptcy-biz-media-cz_ja_0908ualstory2.html To break it down, apparently this morning at 10:53am some financial analyst happened across a 6-year-old story about UAL declaring bankruptcy, and thought it was a NEW news story, so he published it to his financial subscribers. Within ten minutes 24 million shares of UAL stock had changed hands, with the stock crashing from $12.45 to $3! NASDAQ halted its trading at 11:06am, just 13 minutes after the error, but of course by then the damage was done. Yowsa! Wired has a shorter story on it here: http://blog.wired.com/27bstroke6/2008/09/six-year-old-st.html I think it's an interesting story about the pitfalls of hyper-connected information sources in the digital age. Link to comment Share on other sites More sharing options...
iNow Posted September 9, 2008 Share Posted September 9, 2008 It also shows how you can manipulate prices for or against personal favor. Interesting. Link to comment Share on other sites More sharing options...
Sisyphus Posted September 11, 2008 Share Posted September 11, 2008 Well, that's got to be embarrassing. Link to comment Share on other sites More sharing options...
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