Page 20 - Flash Crash News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Second. let's bring in ronna, that may be unrelated to the china issue but amazing nonetheless. this has happened before. >> it could be a flash crash. we don't know. interesting it's happening at the same time you're seeing this free fall in china. markets there in the last few days have been down a total of 35%. >> let's talk about this. we'll keep monitoring what's going on at the u.s. stock exchange. alison be get back to us when we learn more about this. but let's focus on what is a free fall in china. markets down 30%-plus in three weeks. what would that look like here? >> it would look ...

They want to make sure if they open they can get it done. this is going to hurt confidence of investors who not only have these current worries but have been through an awful lot. the financial crisis, the flash crash, a lot of them losing faith they can trust when they put a trade in it will get executed. so it's a concern but not something we're likely to see last if they can get open and get that closed. >> that's what i was trying to get at with alison about the idea that people who are schooled in this -- the stock exchange people who work there everyday might say okay let's get over ther...

At the so-called flash crash. now, what happened there talking to the point about reliance on computers, a bunch of different extremely sophisticated software algorithms, each competing with one another for a little tiny advantage began operating in concert, sort of a chain reaction of bad choices that the computers were making far faster than human beings could keep up. and what you saw was 1,000 point drop in about 36 minutes. now, we've recovered from that we understand why that happened. and there may have been some human involvement, but it wasn't a hack so much as a particular trader who...

They are said to have a survived on girl scout cookies and snow. may 6, 2010 began as an ordinary day on wall street when suddenly the dow jones plunged 600 points in just 5 minutes wiping out nearly 1 trillion dollars of assets. blaming the flash crash on a lone trader who worked from his parents home in london. 36-year-old sarrou was arrested on tuesday and is currently in a u.k. jail. he allegedly made $40 million on a technique called spoofing. and is facing sentences up to 430 years. stunning case.

Most likely not pick up the phone. that's according to a new report by republicans on the house ways and means committee. that committee found that the irs hung up on more than eight million tax payers this filing season. of those who did get through, only two of five callers actually managed to speak to a human being. but lots of them had to wait on hold for more than 30 minutes. report accuses the irs of taking millions of dollars from tax payers services and other areas to pay for the health care law. at a hearing today, the irs commissioner blamed it all on budget cuts of more than a billi...