Manti,
"Yes, ST introduced the poison into the system by their error, but it was an honest error without malicious intent,"
Those poor innocent babies, I do hope they come out of this o.k. - of course once they figured out Knight & UBS were such monsters I'm glad they reacted quickly & covered & didn't sue anyone.
"and the others like Knight and UBS compounded the error by their actions."
Too bad they weren't short too, the more b$stards with theirs b%lls in a vice the better imo.
"Case in point would be Knight's refusal to immediately correct the error, and UBS proceeding to sell ST shares that they couldn't cover themselves..."
Knight obligated ? & now UBS still has shares of ST's that they sold? I thought you said the 16+ million shares in question with UBS were "corrected" ? So now you are saying these angels (ST for those of you trying to keep up) actually have to cover more than you thought?
"I'm guessing that the current trading action is a result of the cooperative spirit between the mm's and brokerage houses to try and resolve this in such a manner as to minimize any financial damages to them collectively."
Cooperative spirit between the mms ? Sounds nice but I thought Knight compounded the "innocent" error that made things worst ? Didn't ST sue Knight, UBS, etc.? I think we are seeing more cooperative spirit in Egypt (maybe a tad too far with the example I admit) than we saw with the first couple of days of gboed trading.
One last point - minimize any financial damages to them collectively ? ST is the only one short here from what I gather so collectively seems to not come into this equation imo.
but that's me, buddy
AI
