POST GOLDEN BATH, I READ OF KNIGHT CAPITAL GROUP’S DARK COMPUTER GLITCH LAUNCH TRIALS
In a rare day, I missed last night’s sports recap news, I also missed tonight’s news too.
On both occasions I was in the bath bathing my golden Maori-Kiwi balls (apparently!). It’s what Kiwi guys had to do. It’s a bloke thing, not a Goldman Sachs TVC per se.
So, reinacting our golden Olympics win on water (in the humble bath), I used old toothbrushes as my oars, while doing my best Martin Tasker sports commentary impersonation while reliving Drysdale, Bond, Murray rowing greatness at Eton Dorney’s lake. (I was terrible!).
However, although I’m a geriatric, in terms of the age of most Hollywood news and entertainment bloggers are now (the new breed are teenagers!) - the reinactment in the bath tub of Kiwis rowing, had to be done to express my Kiwi hobbit, athlete, fierce haka-ness – at home.
Ha! Still a Kiwi-kid at heart! :)
Once dry and on solid carpet again in front of my New Zealand athletes Sunday Star Times issued, full team poster, hung on a wall at home, I got to thinking – maybe I was meant to look at different news today. I smile at my cousin Kirsty Hill, whom the U.S kicked out of the soccer today. How rude!
Like most Kiwis, I’ve been glued to the news during the Olympics build up and everything. Having a cousin in the games helps keep interest up. So, today – why the sudden, unexplained break away in routine?
Moving on,
asap–like Kelly Slater, away I surf on over the waters through time, to see what is happening in that net.
You know, the one that keeps The Fed (the 4 big US banks + Lloyd’s of London)’s elite acquiring and listing new assets.
The stock market net does this to maintain the lifestyle the elite are accustomed to, from such a net, for lives lived, largely doing stuff all!
On my surf, I head to the WSJ.
Living in the U.S, I’d observed that the newspaper shot to no.1 during the GFC years.
It was no.3 or 4 I think, before the spooky global financial crises factors were introduced onto a global stage.
All of our lives would change. Especially the WSJ‘s. It became an instant star in the reshuffle. Even shallow entertainment-me, started reading it at Starbucks in between Hollywood writing.
Looking at the WSJ, I’m glad I had a bath.
The news is dirty. It would make page 23 of Fifty Shades Darker look like a Margaret Mahe children’s book for five-year olds. :)
Seriously though, here’s a weird story of Knight Capital Group investment’s unusual launch. It raises the question of: can an IT “glitch” be excused for a $400 million+ devaluation of stock capital? You’d really want IT insurance, if that was the case as it was a simple IT matter, that caused the value of the stock to disappear!
Watch clip above.
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Jenny Strasberg notes: ”On Wednesday morning, Knight Capital Group Inc. KCG +56.98%opened trading as a sturdy pillar of Wall Street. By Friday evening, the brokerage firm was clinging to a lifeline, and headed to the weekend in search of a long-term solution.
The firm, which lost $440 million due to a computer-trading glitch, was seeking a financial injection that could help it avoid a sale, breakup or bankruptcy, according to people close to the company.
Such a make-or-break weekend for a financial firm has echoes of recent history. During the financial crisis in 2008, the fate of firms such as Bear Stearns Cos. and Lehman Brothers Holdings Inc. hung in the balance on a Friday night before being sealed over the weekend. And just last year, MF Global Holdings Ltd. struggled over a weekend to strike a deal with a buyer before eventually filing for bankruptcy protection.
Knight is perhaps not a household name but the 17-year-old firm handles some $20 billion of shares a day through the New York Stock Exchange, much of that for retail brokerages that serve small investors.” It went on the offensive early on Friday, telling customers it had received a
line of credit to allow it to stay open for business, but some of the firm’s largest clients continued to steer their business to rivals.”
Should the stock market be able to do this to a vialble company, in order to keep all other listed companies on the market afloat? It’s such a shark story. So ‘dark’ Knight on Wall Street too. Gotham City can be quite naughty beneath the tie props and overpriced strips of silk worn daily, when in the thievary club!
Then in cheeky mugs news (eg: the WSJ does have to be entertaining as well), Mark Zuckerberg‘s mug is recommended to click on. Why?! :) We don’t need Mark in NZ. We have Kiwi blondes to look at as our bloke entertainers, if you have to go there. And besides, we have Peter Thiel and Sam Morgan. So, giving Mr Z a reprieve, I click on the Apple Samsung courtcase trial instead. Equally as dramatic.
Point of this story: Celebrate your nation’s Olympian’s achievements. Going into the stock market can chomp companies being listed as in Knight Capital’s case. Most of all, read the WSJ occasionally, as a part of your media diet and weekly reading. Just to see what the suits and the ties are really up to. Buzz words, “computer glitch” economies. Scary stuff, highlighting vulnerability in an e-commerce format economic structure! Real things. Own them. Much safer in this current market. Also if reading from the USA, isn’t Singapore a bit safer to invest in?
[Photos - WSJ]
~Posted by Horiwoodblog, Aotearoa New Zealand, Polynesia Asia-Pacific. 5.8.12~
