NYSE/NYSE MKT has temporarily suspended trading in all symbols • Hacker News Board

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#91

Post by jaketay » Wed, Jul 08, 2015, 5:15 PM UTC

swasheck wrote: post #74

curiousjorge wrote: post #50

wsj goes down, nyse goes down due to technical glitch. seems like a crazy coincidence or some very large state who have a track record of infiltrating and disrupting America electronically at a time when the leaders of that state is feeling the heat and need to stop speculators.

so you're saying that china has initiated some sort of half-cocked single-exchange attack? all other exchanges are operating, and trading is maintaining volume, and asset prices are stable. not sure i'm seeing the reasoning for such an attack.

Its a distraction. We are here talking about the NYSE not the colossal Chinese market collapse.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#92

Post by thetruther » Wed, Jul 08, 2015, 5:15 PM UTC

pekk wrote: post #64

mgolawala wrote: post #33

Earlier quoted context omitted.

I was thinking the same thing. It's disgraceful. I know a disproportionately large percentage of Google and Microsoft are Indian too, quite likely Amazon as well. Making the connection that the NYSE glitch is somehow connected to the tech staff being Indian is absurd and completely racist.

I took the implication to be that NYSE (like some other companies) makes disproportionate use of H1B and similar. One purpose of making very heavy use of H1B is to get workers who are more desperate and likely to accept worse pay, conditions, and longer hours. This is an open secret at at least one of the major companies like the ones you cited. The "prevailing wage" requirement is not hard to work around. Hacker New…

As someone in the know, you could not be more wrong. But guesses are like opinions, right?

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#93

Post by bildung » Wed, Jul 08, 2015, 5:18 PM UTC

omnipedal wrote: post #56

tuckermi wrote: post #35

Earlier quoted context omitted.

Sounds like a similar problem to the birthday paradox - only instead of looking at the likelihood of any two people in room having the same birthday, we are asking what is the likelihood of two major companies having the same major, visible failure day. There is a nice explanation and calculator here: http://betterexplained.com/articles/understanding-the-birthd... The parameters that you provide would be the number o…

If there's smoke there's fire. In my view, Occam's razor might indicate that coincidence is unlikely, and that the two major incidents in US on the same day China's market crash suggest it's a state sponsored cyber attack.

> In my view, Occam's razor might indicate that coincidence is unlikely, and that the two major incidents in US on the same day China's market crash suggest it's a state sponsored cyber attack.

Occam's razor calls for an explanation that does not require the unneeded introduction of a new variable. If you need a state sponsored cyber attack as the alternative explanation, the coincidence theory should be preferred.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#94

Post by TeMPOraL » Wed, Jul 08, 2015, 5:19 PM UTC

omnipedal wrote: post #56

tuckermi wrote: post #35

Earlier quoted context omitted.

Sounds like a similar problem to the birthday paradox - only instead of looking at the likelihood of any two people in room having the same birthday, we are asking what is the likelihood of two major companies having the same major, visible failure day. There is a nice explanation and calculator here: http://betterexplained.com/articles/understanding-the-birthd... The parameters that you provide would be the number o…

If there's smoke there's fire. In my view, Occam's razor might indicate that coincidence is unlikely, and that the two major incidents in US on the same day China's market crash suggest it's a state sponsored cyber attack.

Occam's razor would actually suggest that coincidence is much more likely explanation than a malicious hacking by a (especially particular) foreign state actor. You have to look at relative probabilities.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#95

Post by kevinpet » Wed, Jul 08, 2015, 5:20 PM UTC

littletimmy wrote: post #77

It looks like Anonymous tweeted something about this yesterday ... https://twitter.com/YourAnonNews/status/618626955433349120

We all knew today would be "bad for wall street". The Chinese stock market is crumbling (due to economic, not technical reasons) and Greece is in the fiscal equivalent of the crazy guy barricaded in his house with this gun collection.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#96

Post by ablation » Wed, Jul 08, 2015, 5:22 PM UTC

Well, one thing this has done is bring the paranoid out of the woodwork. I've rarely seen such a display of tinfoil hattery on HN as I have done in the last few days.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#97

Post by TeMPOraL » Wed, Jul 08, 2015, 5:23 PM UTC

thetruther wrote: post #92

pekk wrote: post #64

Earlier quoted context omitted.

I took the implication to be that NYSE (like some other companies) makes disproportionate use of H1B and similar. One purpose of making very heavy use of H1B is to get workers who are more desperate and likely to accept worse pay, conditions, and longer hours. This is an open secret at at least one of the major companies like the ones you cited. The "prevailing wage" requirement is not hard to work around. Hacker New…

As someone in the know, you could not be more wrong. But guesses are like opinions, right?

What in particular do you think is wrong in the GP's comment? I see a bunch of pretty much self-evident statements about quality of work produced in sweatshops.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#98

Post by ocschwar » Wed, Jul 08, 2015, 5:24 PM UTC

kr4 wrote: post #54

many worlds' renouned economic experts have claimed that we're likely headed for yet another great depression. But noone can give you the exact date right? Maybe wrong. I recently read that there's a pattern of stock market collapse in every 7 or so years. Recall 1973, 1980, 1987 and then 2001, 2008. Article [0] links this pattern with Shemitah year and goes on to establish perfect correlation of economic crisis in l…

Interesting point. Every 7 years, all the Jewish farmers in upstate New York and Long Island have to either leave their lands fallow or lease them out to non-Jews. Clearly that's what's shaking up the market.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#99

Post by doktrin » Wed, Jul 08, 2015, 5:24 PM UTC

zabcik wrote: post #30

fsk wrote: post #15

Earlier quoted context omitted.

I interviewed at the NYSE a few years ago. Everyone was Indian.

Wow, the first racist comment I've read on HN. Must be because reddit kicked you out.

As if reddit actually kicks out racists.

Re: NYSE/NYSE MKT has temporarily suspended trading in all symbols

#100

Post by swasheck » Wed, Jul 08, 2015, 5:25 PM UTC

ablation wrote: post #96

Well, one thing this has done is bring the paranoid out of the woodwork. I've rarely seen such a display of tinfoil hattery on HN as I have done in the last few days.

this is nothing compared to the comment thread on zerohedge. they're connecting jade helm, china, greece, and this into something pretty extraordinary.