OSU Beavers
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- Jan 10, 2007
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- Licensed Appraiser
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- Oregon
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BoA has been a bad boy
- Thread starter OSU Beavers
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Terrel L. Shields
Elite Member
- Joined
- May 2, 2002
- Professional Status
- Certified General Appraiser
- State
- Arkansas
Who woulda thunk it? CW was such a wise investment wasn't it? And I thought Chase Credit cards were bad now....
Restrain
Elite Member
- Joined
- Jan 22, 2002
- Professional Status
- Certified General Appraiser
- State
- Florida
They discuss that Wall Street is not concerned. Wall Street makes millions of trades, mostly microtrades, that are driven by computers. Until something really hits BofA, etc, there will be no reaction as it still showed a profit.
Terrel L. Shields
Elite Member
- Joined
- May 2, 2002
- Professional Status
- Certified General Appraiser
- State
- Arkansas
It seems now that the "flash crash" blamed on some obscure mutual fund trade in Kansas in the "official" coverup..er, I mean report, was in fact, caused by newspaper reading super computers that do these rapid computer trades. A bit of news came in, the computers didn't find a model match in their data base of market news from the past, to tell them how the markets reacted then, so they sold...then froze unable to trade because they didn't know what to do.... Then buyers placed purchase orders for pennies on the dollar and bingo...freezing the market meant even traders who had stops free fell to the offer price and were wiped out in seconds....rather nanoseconds.
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