I'm watching the mumbling stumbling pricks on CNBC tripping over their own genitals...

LeftyFingerPop

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Fri May-07-10 10:45 AM
Original message

I'm watching the mumbling stumbling pricks on CNBC tripping over their own genitals...

trying to explain what happened yesterday to the market.

My view is this.

If we have the technology to TRADE billions of shares per day, we have the technology to AUDIT those trades in the same amount of time.

Tsk tsk...someone's pants are on fire.

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JuniperLea

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Fri May-07-10 10:50 AM
Response to Original message

1. It's on in the office kitchen...

I caught a bit whilst warming up my joe... they make shit up about the stock market every day. Perpetual flaming tightie whities... and they had to really contort in an attempt NOT to credit Obama with the positive financial job reports.

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still_one

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Fri May-07-10 10:58 AM
Response to Original message

2. They can make all the excuses they want. The truth is the computers screwed up

This would not have happened with human specialists. Yes, they have their own problems too, but there is no way they would offer prices for viable companies as low as 2 cents

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RKP5637

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Fri May-07-10 11:00 AM
Response to Original message

3. I often find CNBC pretty lame... making up crap as they float along trying

to sound informed. I still find all of the explanations bizarre. IMO the real facts are possibly being covered up to prevent a panic sell off. People in this country are too accepting of the propaganda spewed each day.

Imagine for a moment if someone had hacked into the system, or if this were a form of internet terrorism... we would have had a really major crisis. On the other hand if the system is so fragile that a typo could cause this, imagine what someone of determined will could do... The explanations to date all sound extremely loosey goosey to me...

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azmouse

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Fri May-07-10 11:07 AM
Response to Original message

4. I heard something about the computers taking over the trading.

I wonder if that computer was called Skynet?

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RKP5637

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Fri May-07-10 11:28 AM
Response to Reply #4

5. +100, best explanation I've heard! Skynet! n/t

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