Entire global financial system can go crashing down with one “small” glitch
The bankruptcy of the Lehman brothers was a huge loss for everyone involved, except the super-wealthy who often emerge from financial crises without a scratch. While everyone remembers this crash with post-traumatic clarity, there are other glitches that are lesser known but that were almost equally destructive. This glitch described by Zero Hedge illustrates just how easily Read More
Computer glitch wreaks havoc on mutual fund industry
Bank of New York Mellon Corp. is working to fix a computer glitch which prevented hundreds of investors from knowing the values of their holdings. The episode coincides with a turbulent week on the stock market and has severely undermined the trustworthiness of the world’s largest custody bank.(1) The bank reports that an accounting system Read More
