Bear with me.
I search the Internet for "stock market terror" or "stock market attack" and there is nothing discussing the possibility that today's stock market "glitch" might have been man-made and deliberate -- an act of terrorism.
Media is reporting officials as blaming electronic trading, possibly put into motion by a typo. That doesn't really smell right--that out of the millions of trades that occur every year, this was the first time someone struck the wrong key. Hmmm. Maybe.
Even if so, could the cascade have been initiated intentionally. If entering an order to sell a billion shares could cause this kind of disruption, doing so intentionally certainly would be a remarkably easy way to inflict harm and panic. Easier than a virus or hack, which also seem like feasible possibilities.
But with all the discussion about today's events, I have yet to hear or been able to find anybody explaining why the possibility that this was intentional is not likely. Is it because it is, in reality, so unlikely that it doesn't warrant a minute or a word? Maybe. But I sure would like someone smarter than me to explain why.
I have been sitting here thinking the same thing.
ReplyDeleteAlso, I question the timing. The very same week that the Wall Street types are pushing back against financial reform we get an inexplicable and unprecedented drop in the Dow?
Hmmmmm.
If it was done on purpose, it is indeed terrorism, no matter if it was inflicted by an angry brown fella in a cave with wi-fi, a teenager dicking around in the bedroom of his parents' Dubuque home or someone in a pinstripe suit with an axe to grind.
Either way, I'm not buying the typo thing.
I'm relieved that I am not alone, that it is Brian Clarey who shares my thinking, well...
ReplyDeleteHeh.
ReplyDeleteEven paranoids have enemies, Roch.
So are you saying that the paranoids are out to get me?
ReplyDelete