death & sadness

GLOBAL FINANCIAL SYSTEM OPERATING SMOOTHLY: Remember how the Dow dropped 700 points in fifteen minutes between 2 and 3 p.m. today, and then got back 500 of those points a few minutes later? Some dingbat computer went nuts or whatever: “NEW YORK (Reuters) – A trading error at a major firm was to blame for the day’s market plunge, CNBC reported on Thursday. Separately, Nasdaq said it was working with other major markets to review the market activity that occurred between 2:00 p.m. and 3:00 p.m.” Ha ha, yes, “trading error.” GREATEST SHORT SELL IN HISTORY! Everyone in America wins. UPDATE: Oh my god. Is this really allowed to happen? “According to multiple sources, a trader entered a ‘b’ for billion instead of an ‘m’ for million in a trade possibly involving Procter & Gamble, a component in the Dow.” He works for Citigroup. [Reuters]

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Jim Newell is Wonkette's beloved Capitol Hill Typing Demon. He joined Wonkette.com in 2007, left for some other dumb job in 2010, and proudly returned in 2012 as our "Senior Editor at Large." He lives in Washington and also writes for things such as The Guardian, the Manchester paper of liberals.

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