In what is almost a comical article, C|Net News has an article on someone who was fired after a typo:
A Taiwan stock trader mistakenly bought $251 million worth of shares with a misstroke of her computer keyboard, meaning her company is looking at a paper loss of more than $12 million and she is looking for a new job.
The trader with Fubon Securities miskeyed in a small order from Merrill Lynch on Monday, creating confusion when many small companies inexplicably surged past the 7 percent trading limit.
“Something like this is difficult to explain to superiors,” a Fubon executive said Tuesday.
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Fubon said that the trader was unfamiliar with new computer systems and will be fired. The company will also examine its procedures of placing orders, it said.
While this is a MAJOR mistake, I think the company can put some of the blame on itself. After all, you’d think that such a large order of stock would at least need the OK of on superior higher up the ladder. But hey, that’s just me……
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