Intrade discovers a $700k cash shortfall

Post by teleological » Sat, Apr 06, 2013, 4:30 PM UTC

gdeglin wrote: post #21

I remember being perplexed looking at the intrade exchange pricing during the last presidential election. I wasn't the only one. Nate Silver and Paul Graham wondered about it too http://fivethirtyeight.blogs.nytimes.com/2012/10/24/oct-23-t... https://twitter.com/intent/retweet?tweet_id=2615138971341414... The bets on Obama not being re-elected seemed way too high. I convinced myself at the time that this must have be…

Post by codesuela » Sat, Apr 06, 2013, 5:08 PM UTC

anthonyb wrote: post #15

eps wrote: post #14

rorrr, you are hellbanned.

...and for good reason too. Go back and read his comment history before you warn him.

Post by [deleted] » Sat, Apr 06, 2013, 6:26 PM UTC

teleological wrote: post #41

gdeglin wrote: post #21

I remember being perplexed looking at the intrade exchange pricing during the last presidential election. I wasn't the only one. Nate Silver and Paul Graham wondered about it too http://fivethirtyeight.blogs.nytimes.com/2012/10/24/oct-23-t... https://twitter.com/intent/retweet?tweet_id=2615138971341414... The bets on Obama not being re-elected seemed way too high. I convinced myself at the time that this must have be…

I assumed this was because a pool of funds had been set up to prop up Romney's odds to make him appear more viable -- or at least to stave off a story that Intrade users were betting heavily against him. Intrade was a small enough market that this could have been done with a comparatively small investment compared to media buys, and without any technological or financial chicanery. It's not illegal to pay too much fo…

Post by sesqu » Sat, Apr 06, 2013, 7:33 PM UTC

caseysoftware wrote: post #46

NelsonMinar wrote: post #29

Anyone have a copy of the proposed forbearance agreement for large account holders? It seems pretty brazen to ask people to give the company some slack on repaying deposits when they haven't really come clean on what went wrong. "For legal reasons we are not yet at liberty to document them" isn't good enough explanation; an announcement of specific arrests or civil lawsuits might be.

cough Cyrus cough

Post by ams6110 » Sat, Apr 06, 2013, 7:45 PM UTC

Dylan16807 wrote: post #42

jrockway wrote: post #16

Earlier quoted context omitted.

I think they like filing because it's immutable storage. An engineer can't write code to change the filed-away code as easily as they can the on-disk source code. I don't know much about SOX, but based on how I've seen it implemented at various places it seems to be a law that says "it is illegal to write computer programs, so don't let anyone do it! have a good day and have fun running a business!"

Filing is great but file an archival DVD and save a lot of effort. Or five of them, really, just in case.