Top of the Morning

Top of the morning

I don’t know about you, but it seems more than a little scary to me that the financial system can be brought to its knees by a typo.

The difference between a B and an M may have caused Thursday’s heart-stopping Dow plunge of nearly 1,000 points.A trader may have accidentally entered $16 billion – instead of $16 million – in a deal involving Procter and Gamble, sparking the massive selloff, according to multiple reports.

Think what would have happened if he had entered $16 trillion.  Maybe there should be a rule that you have to proofread what you write when the health of the nation’s economy is at risk.

7 Comments


  1. Kimberly

    May 7, 2010 at 9:07 am

    I completely agree with you and hopefully this will teach some lessons and change a few things. According to Rachel Maddow, all transactions during that time period were voided so those who thought they had made a huge profit or suffered a huge loss will be disappointed or relieved.

  2. HunterC

    May 7, 2010 at 9:59 am

    Only reconfirms that Eddie Murphy was right in the movie “Trading Spaces”

    Murphy’s character says to characters Randolph and Mortimer Duke who play leaders in a well-respected firm, “So y’all are just a bunch of bookies?”

  3. HunterC

    May 7, 2010 at 10:03 am

    Here’s the correct quote & movie title (Trading Places)

    http://www.youtube.com/watch?v=g4Uv4ftekaI

  4. Jack

    May 7, 2010 at 12:34 pm

    Sure glad we got that faux pas dealt with. It appears as if we’re more conversant in movie quotes than in stock quotes. No wonder Wall Street is able to take us for a ride.

  5. HunterC

    May 7, 2010 at 12:41 pm

    I have more trust in fictional comedy characters than in Wall Street.

  6. […] This post was mentioned on Twitter by north_carolinaBNN. north_carolinaBNN said: The Progressive Pulse: Top of the morning: I don’t know about you, but it seems more than a little scary to me th… http://bit.ly/cNqJRJ […]

  7. pino

    May 7, 2010 at 2:25 pm

    I don’t know about you, but it seems more than a little scary to me that the financial system can be brought to its knees

    Correct me if I’m wrong, but the system recovered before the day ended.

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