The $242 Million Software Error

#1

Post by ptrckryn » Fri, Feb 11, 2011, 3:13 PM UTC

The $242 Million Software Error
spectrum.ieee.org

Re: The $242 Million Software Error

#2

Post by machrider » Fri, Feb 11, 2011, 3:51 PM UTC

Speaking of software errors, that link redirects me to the mobile site home (not the article page), so I guess I won't read this story.

Re: The $242 Million Software Error

#3

Post by iwwr » Fri, Feb 11, 2011, 3:58 PM UTC

Whereas, if the 'risk model' had failed for any other reason, there'd have been no consequences. What's to say their model was correct even on paper? Funnily, nobody would have said anything if the mistake had made money. So, caveat emptor!

Re: The $242 Million Software Error

#4

Post by smithbits » Fri, Feb 11, 2011, 4:42 PM UTC

"... an independent consultant with expertise in quantitative investment techniques who will review disclosures and enhance the role of compliance personnel."

I assume this is press-release-based and so pretty thin on actual information, but if someone told me they had a $242 million software error and the plan for the future was to "review disclosures" I would not be reassured.

Re: The $242 Million Software Error

#5

Post by edw519 » Fri, Feb 11, 2011, 5:01 PM UTC

There are no software errors, only programmer errors. The computer did exactly what it was told to do.

[Generated by HNCommentGenerator Vers. 2.04 2011-02-11 17:01:44 GMT]

Re: The $242 Million Software Error

#6

Post by sp332 » Fri, Feb 11, 2011, 5:13 PM UTC

edw519 wrote: post #5

There are no software errors, only programmer errors. The computer did exactly what it was told to do. [Generated by HNCommentGenerator Vers. 2.04 2011-02-11 17:01:44 GMT]

My failing hard drive would like to have a word with you.

Re: The $242 Million Software Error

#7

Post by simonw » Fri, Feb 11, 2011, 5:27 PM UTC

I wonder if it was a formula in an Excel spreadsheet.

Re: The $242 Million Software Error

#8

Post by thwarted » Fri, Feb 11, 2011, 5:55 PM UTC

sp332 wrote: post #6

edw519 wrote: post #5

There are no software errors, only programmer errors. The computer did exactly what it was told to do. [Generated by HNCommentGenerator Vers. 2.04 2011-02-11 17:01:44 GMT]

My failing hard drive would like to have a word with you.

A failing harddrive is a hardware problem.

Re: The $242 Million Software Error

#9

Post by moxiemk1 » Fri, Feb 11, 2011, 6:27 PM UTC

This site is inaccessible on mobile browsers (or at least iPhone)

It "helpfully" redirects to the IEEE Spectrum mobile homepage. If you are making a mobile version of a site, please don't redirect blindly. I followed a link, I expect to go there.

EDIT: thankfully, the article was recent and a link to the mobile story shows up on the page we get redirected to.

Re: The $242 Million Software Error

#10

Post by jpadvo » Fri, Feb 11, 2011, 6:51 PM UTC

machrider wrote: post #2

Speaking of software errors, that link redirects me to the mobile site home (not the article page), so I guess I won't read this story.

Copy the url, search for it on google, under the article click "options," then "mobile formatted."