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Did backgammon cause today's stock market selloff?

Posted By: mamabear
Date: Friday, 7 May 2010, at 12:00 p.m.

In Response To: Did backgammon cause today's stock market selloff? (Havard Raddum)

Does anyone at this board honestly believe that story about the mistyping trader? It has "Urban Legend" written all over it. The reason people believe it is that the truth is worse, that a barf in any component, however small, of the international financial system can cause enough panic to make a 10 percent difference in the intraday chart of the world's largest financial exchange. But does the idea of a single mistype triggering a panic sound any more reassuring? Reminds me of the scene in Mary Poppins where Michael starts a run on the bank because he demands his tuppence back so he can feed the birds.

Prop that the fat-fingered trader story is completely debunked sometime in the next few weeks.

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