According to The Hill, President Barack Obama has not ruled out sabotage in the near-panic on Wall Street Thursday afternoon.
There's sabotage all-right, but it is being done by way of the crazed economic policies implemented by Congress, the White House and Ben Bernanke.
Sabotage is not that far fetched. I can't remember an error in the past that wasn't owned up to within a day.
ReplyDeleteI don't think it was sabotage at all. I also don't believe the "fat finger" story.
ReplyDeleteThe riots in Greece as well as the rest of the PIIGS teetering on the side of a cliff in addition to high volume computerized quants are what caused it.
And if it really was some idiot's fat finger that caused it, then it's a sad indicator. To me, it means the market (in it's current form) is so crappy and fragile that maybe a crash is necessary to get all the garbage firms out of there.