Sounds like there is no check and balance in the system...say for every purchase of over a million, someone has to check it or the computer should alert and lock up the order... Stupid trading firm
There isn't enough time, these trades are done at a rate of thousands per second, this guy made the mistake of letting his employer be the stooge rather than the usual general public and their pension funds.
He should be forced to retake elementary math and learn decimal places.
That was not the problem. Evidently, he was attempting to squeeze through an order that he could plausibly deny he placed if caught in an attempt to make a quick massive profit.
Let's be serious, stock manipulation happens all the time. Companies make gambles all the time. The company made a bad bet and did not want to pay go under, so they made up this stupid excuse and an escape-goat.
As an individual investor, I can't say that my wife made an un-authorized order and I would like to retract the order so I don't have to pay. Can't I?
"Escape-goat"?....... Wow. That's a new one.
He was not made a scapegoat. He committed a crime. A scapegoat is completely different.
Comments
Sounds like there is no check and balance in the system...say for every purchase of over a million, someone has to check it or the computer should alert and lock up the order... Stupid trading firm
There isn't enough time, these trades are done at a rate of thousands per second, this guy made the mistake of letting his employer be the stooge rather than the usual general public and their pension funds.
He messed up and now pays the price.
That was not the problem. Evidently, he was attempting to squeeze through an order that he could plausibly deny he placed if caught in an attempt to make a quick massive profit.
"Escape-goat"?....... Wow. That's a new one.
He was not made a scapegoat. He committed a crime. A scapegoat is completely different.