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Some years ago a Major Danish bank suffered a black swan event where their entire online financial system went down. It was traced to a bizarre problem in an IB
by mixmax 19y ago
Some years ago a Major Danish bank suffered a black swan event where their entire online financial system went down. It was traced to a bizarre problem in an IBM DB2 database that had never occurred before. In the entire history of DB2. All kinds of experts were flown in from all over the world to fix it, and eventually they succeeded with some loss of data.
The result? Customers of the bank were unable to make any transactions for 5 days, and the bank's stock suffered so severely that the company lost almost a billion dollars in market cap within a week.
Now they have redundant sytems...
- daniel-cussen 19y agoDid anybody get fired for buying from IBM?
- mixmax 19y agoOf course not :-)
- pius 19y agoNice one. :)
- run4yourlives 19y agoHa! I bet you IBM didn't even get fired.