Waddell the official scapegoat for 1000 point market crash UPDATEDSubmitted by paul4won on Fri, 05/14/2010 - 13:05
Of course, nothing wrong was really done... and a few paragraphs down we see who else played along...
"Gensler said there was no suggestion that the trader, who he did not identify, did anything wrong in only entering orders to sell. Gensler said data shows that the trades appeared to be a bona fide hedging strategy.
The CME document shows that during the sell-off and subsequent rally, other active traders in e-minis included Jump Trading, Goldman Sachs, Interactive Brokers, JPMorgan Chase and Citadel Group."
ARREST THE BANKSTERS!!!
UPDATE: Now Reuters is carrying the story. Anybody here understand how big this is yet?