knight tradings algo's went rogue yesterday selling low and buying high estimated loss of $240mn
article linked below and the comments section below are a great read
Chinese Hackers / Iranians / The worlds going to hell in a handcart / Computers close to taking over the world ( think WarGames but with finance as the WMD's rather than nuclear weapons )
fantastic stuff conspairacy theories coming out of the woodwork corruption in high places ineffective government agencies FED allowing this to happen
knight tradings algo's went rogue yesterday selling low and buying high estimated loss of $240mn
article linked below and the comments section below are a great read
Chinese Hackers / Iranians / The worlds going to hell in a handcart / Computers close to taking over the world ( think WarGames but with finance as the WMD's rather than nuclear weapons )
fantastic stuff conspairacy theories coming out of the woodwork corruption in high places ineffective government agencies FED allowing this to happen
http://www.zerohedge.com/news/what-happens-when-hft-algo-goes-totally-berserk-and-serves-knight-capital-bill