Wall Street & Technology’s Top 5 Galleries of 2012
2. The 12 Most Spectacular Financial Services Failures of All Time
As a result of its spectacular technology fail on August 1, Knight Capital became the latest in a long list of financial services firms – from Barings to Long-Term Capital Management to have been either pushed to the brink of collapse or permanently wiped out.
Ed’s Note: 2012 was the year of technology fiascos: from Nasdaq botching Facebook’s IPO to BATS messing up its own and Knight’s errant algo, the flurry of major tech mishaps reignited the debate on high-frequency trading and spurred the SEC to hold a meeting to try and improve the stability of the markets.
[Check out the gallery here.]