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What are some notable blunders in history that resulted in huge loss? (lemmy.ml)

submitted 1 year ago by bady@lemmy.ml to c/asklemmy@lemmy.ml

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Loss in terms of money or efforts. Could be recent or ancient.

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[–] PhantomPhanatic@lemmy.world 37 points 1 year ago (1 children)

The program was called "Power Peg" for those googling for it. It was a test program not intended to be used on the live market.

The Power Peg program was designed to buy a stock at its ask price, and then immediately sell it again at the bid price, losing the value of the spread.

The Worst Computer Bugs in History: Losing $460m in 45 minutes

[–] luthis@lemmy.nz 24 points 1 year ago

I get the impression that power peg is a risky google.