Sunday, September 22, 2013

LOSS OF CONFIDENCE? ARE FUCKING KIDDING ME?

5 years after the banksters came this close to creating another Great Depression, S&P (one of the bankster's collaborators) thinks market glitches reduce "confidence."
S&P: Exchanges' glitches put ratings at risk
Kevin McCoy, USA TODAY 2:24 p.m. EDT September 20, 2013

Downgrade warning comes after a series of recent trading-market disruptions have heightened a crisis of market confidence among investors.

Along with the Nasdaq flash freeze, other recent trading disruptions have caught the attention of even casual investors, causing a crisis of market confidence:

• A 2010 "Flash Crash" sent the Dow Jones industrial average boomeranging down nearly 1,000 points and back up in minutes.

• Separate electronic breakdowns in 2012 that disrupted the initial public offering for Facebook and forced the BATS exchange to withdraw its own IPO.

• A 2012 computer glitch that led financial services firm Knight Capital's computers to buy and sell millions of stock shares for about 45 minutes, causing $440 million in losses.

• A Goldman Sachs technical error in August that caused the investment bank to send accidental trade orders to U.S. options exchanges.

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