London Stock Exchange (LSE) Down for a Day
I am really surprised that I missed this given that I was dealing with my London counterparts all day yesterday, but the London Stock Exchange (LSE) was down for seven hours yesterday. Now I'm not one to point fingers, but the Slashdot crowd is pointing out that the system they are using is based on Microsoft's .Net platform, and are certainly making fun of that little tidbit. Even so, seven hours is an incredibly long time to have an exchange down. Holy Cow!
I'm guessing that someone is going to be in big trouble, and there will be a scape goat for this issue. There are too many people angry they couldn't trade for a day - and yesterday at that. Fannie Mae, Freddie Mac bailouts... mis-reporting UAL's bankruptcy and losing 80% like a shot... it was a Big Day to be unable to trade.