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Pretty sure someone selling 10 billion shares instead of 1 million shares because they don't know how to carry zeroes would effect the market pretty badly.
yea I'm hearing something similar. The billion key was hit instead of the million key.
Who could have predicted that such a thing would happen? I thought that Barry caused the rally in the market and that everything was great? Whatever happened to all the libs who were praising the rise in the market?
What matters are the long-term numbers. Blaming one person for one day's performance in the stock market is just silly. So, if the stock market rises tomorrow, will you give credit to Obama for it? Of course not.
TO those who believe that some dufus in an office somewhere pushed the billion button instead of the million button, don't y'all think this would have happened thousands of times every year?
Think about it,if you could simply type an extra zero and the transaction would occur it surely would be happening dozens of times a day.
But if it makes people feel better then it was all user error....except of course the sell off is continuing AFTER the market closed....
No one is arguing that the market is taking a drop. What is going on in Europe specifically Greece is playing a role in the drop. However, the plunge from 300 to almost 1,000 was due to an error with P&G. The speculation is that is was based off the e mini futures market.
Raw efficiency of financial wizards in the private sector.
Don't worry, the free market will sort this one out.
So is the incompetant trader's name Bush, or what's going on here???
Ya right, Free market my arse. What you have is two diametrically apposed forces at work. Inflation by Ben Bernanke, and deflation by a collapsing debt bubble. Ben's manipulation is far from what the free market would do if it were free to do what it wanted. The debt load is unsustainably high. It will come down. The harder that you fight it the longer it will take to pop.
TO those who believe that some dufus in an office somewhere pushed the billion button instead of the million button, don't y'all think this would have happened thousands of times every year?
So then what cause P&G to trade at $39 on a secondary exchange, what caused several stocks to trade at $.01?
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