304
What are some notable blunders in history that resulted in huge loss? (lemmy.ml)
submitted 3 years ago by to c/asklemmy@lemmy.ml
209 comments fedilink hide all child comments
 

Loss in terms of money or efforts. Could be recent or ancient.

you are viewing a single comment's thread
view the rest of the comments
[โ€“] 77 points 3 years ago (3 children)

Knight Capital - They were biggest equities trader in 2012. They manually deployed code and didn't get configuration right and it reactivated "Powder Peg". They lost $460 M in 45 minutes and went bankrupt.

  • permalink
  • fedilink
  • source
  • hideshow 6 child comments
    •
  • [โ€“] 36 points 3 years ago (1 child)

    The program was called "Power Peg" for those googling for it. It was a test program not intended to be used on the live market.

    The Power Peg program was designed to buy a stock at its ask price, and then immediately sell it again at the bid price, losing the value of the spread.

    The Worst Computer Bugs in History: Losing $460m in 45 minutes

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •