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....what? Your logic is truly frightening. Are you saying this is a regularly occurring event and that they deliberately did this? Do you have any idea of the s
by aje403 9y ago
....what? Your logic is truly frightening. Are you saying this is a regularly occurring event and that they deliberately did this? Do you have any idea of the scale and complexity and risk of the code they have deployed? This shit understandably happens. There is no "more people means mistakes don't happen" in any organization on the planet.
There is no "whether or not who should morally be able to roll back a trade". There is a "hey, we are a customer of your business, we do a lot of business together and I make you a lot of money. We had a once in a blue moon mistake in our billions of lines of code, can you help us out. Other banks are watching and there are plenty of other exchanges to do business with"
- jfoutz 9y ago> Are you saying this is a regularly occurring event and that they deliberately did this? Nah. > Do you have any idea of the scale and complexity and risk of the code they have deployed? No. But apparently neither do they. > ... I make you a lot of money. ... With basically every other risky thing people and corporations encounter, the response is "go buy insurance". Usually they're told that by finance guys. But hey, good for them.
- feiofh398r39rty 9y ago>we do a lot of business together and I make you a lot of money >Other banks are watching and there are plenty of other exchanges to do business with And the answer to that should be "sorry, if we will roll back your trade, SEC will put us out of business on the fraud charges".
- traek 9y agoEvery exchange that I’m aware of has a rule allowing them to roll back clearly erroneous transactions. “Clearly erroneous” isn’t always clearly defined, but it would obviously apply in the GS case (huge volume executed at $1). Nothing about this is fraud.
- aje403 9y agoThere is a cosmological reason why you do not hold a position as a financial regulator