Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by strangattractor on Tuesday May 28, 2024 @01:46PM
(#40503389)
Begs the question - why does it take 2 people to launch an ICBM but only one to make a $444 billion trade?
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Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by bell-cot on Tuesday May 28, 2024 @02:12PM
(#40503696)
Perhaps the USAF nuclear launch system designers were relatively decent humans, who actually cared about the effects of their actions upon the world?
Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by throwaway1105q on Tuesday May 28, 2024 @01:53PM
(#40503466)
This begs the more important question... Why does it take only one more person to end the world than to change some numbers in excel?
Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by Arnt on Tuesday May 28, 2024 @03:56PM
(#40504899)
Capitalism. Seriously. Each owner decides how to allocate resources. Citigroup decided to let one person make wide-ranging decisions.
Wonder how much the loss was. Surely more than $78 million. Citigroup doesn't say the policy has changed (substantively) so I guess the advantages of this… uh… nimbleness must be in nine digits too.
Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by throwaway1105q on Tuesday May 28, 2024 @05:35PM
(#40505870)
My point was that 2 is really not enough to end the world. Damn their money, it's their problem. Launching nukes should require 200, not 2.
Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by Arnt on Wednesday May 29, 2024 @05:07AM
(#40509948)
Suppose it actually required twenty, or 200. In that case, would the relevant organisation publish the truth or rather lie and say "two"? I think lying makes a lot of sense. Telling the truth would be like saying "go ahead and kill the most accessible of these 20/200 people".
So I don't think the "2" is very likely to be true.
Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by throwaway1105q on Wednesday May 29, 2024 @05:36AM
(#40510123)
It could be 200 out of 20k, or something like that. Though yes, you're right, lying makes sense.
Re:$444B 'Fat Finger' Trade Crashed Stocks.Now Citigroup Is ...
by appplication on Wednesday May 29, 2024 @09:24AM
(#40511732)
It takes more than two. Two is enough to launch, but other silos have override authority. So if two people went renegade they could still be shut down.