[muawiyah]

The last really big market crash before this one was in 1987. That one was blamed on programmed trading. Turned out one individual wrote most of the code for "programmed trading" ~ on a Commerce Department contract.

He used to work in our office. Definitely a genius class programmer, at the time I recalled that he hated the New York Times.

Although the NYT had a spotless financial record 21 years ago, the programmed trades SOLD every share of NYT in private hands.

Guess what happened this time? Few weeks ago a "computer program" rated NYT bonds at the "junk bond" level.

Coincidence?

Or maybe I should be laughing.

[Fu-fu2]

I also heard FHA was way lowballing their appraisals last summer too. Maybe setting up the real estate crisis for the election? Hmmmmm.....