The 3 Billion Dollar Typo 398
Rand310 writes "Mizuho, the world's second largest bank based in Japan, with total assets of nearly the GDP of France (around 1.2 trillion USD) accidentally sold 610,000 shares, valued at $3.1 billion... for 1 yen each. A 27 billion yen loss would almost match Mizuho Securities' group net profit of 28.1 billion yen for the financial year ended in March, though... the incident would not threaten the brokerage's financial stability. FYI 1 yen is about .83 cents. Yesterday one share was selling at $5,065, today you could theoretically have bought 610,000 shares for $.0083 each. An expensive switch of variables."
1 BILLION Shares! Muuuahhahaahahahaha (Score:5, Funny)
That to me is much more disturbing.
I just wonder who's going to get the blame, IT or the software vendor?
Re:This brings a WHOLE new meaning... (Score:5, Funny)
FuckedCompany.com
I can only assume (Score:2, Funny)
Re:Use http://www.xe.com/ucc (Score:5, Funny)
Not on SlickDeals? (Score:2, Funny)
New conversion! (Score:5, Funny)
Re:You've got to admire the Mizuho execs... (Score:5, Funny)
I have to wonder how a U.S. bank would have handled such a mistake?
Well, I can tell you it wouldn't be the company execs who would be bending over...
Sepuku. (Score:1, Funny)
Re:Would be nice, but not really... (Score:5, Funny)
to press the "Ok" button
on the "Are you sure"
dialog box?
[ OK ] [ Cancel ]
Re:Error prevention? (Score:4, Funny)
He was holding down the shift key.
Re:Would be nice, but not really... (Score:5, Funny)
Re:Data Validation (Score:5, Funny)
http://www.msnbc.msn.com/id/10394551/ [msn.com]
This image:
http://msnbcmedia.msn.com/j/ap/tok11012090345.hme
Re:Give them my number (Score:3, Funny)
Guess that rules out coicidence.
Re:Give them my number (Score:4, Funny)
Re:Error prevention? (Score:1, Funny)
Re:Would be nice, but not really... (Score:4, Funny)
Re:Would be nice, but not really... (Score:3, Funny)
Warlords II (Score:3, Funny)
If you resign Ungraciously all your cities are razed. They are out of play and none of the remaining players can benefit from them.
If you select Graciously you are asked, "graciously?"
Clicking anywhere makes that box go away and another appears asking, "GRACIOUSLY?"
Clicking again brings a third box with, "GRACIOUSLY??????"
Another click brings up the last box, which says, "I don't think so. I'm going to burn them all anyway."
One more click takes you back to the map with all your newly razed cities.
Re:May also not even be true (Score:1, Funny)
Re:You've got to admire the Mizuho execs... (Score:3, Funny)
I heard about it on a BBC news brief this morning during my commute. They played a sound bite from some guy apparently affiliated with the bank droning about how this is a known problem and it happens all the time and the banking industry needs to address this flaw in the system or some such drivel. Problems that cost money get fixed. It all comes down to somebody, somewhere, made a big mistake and had better figure out a way to make it look good on their resume, because they're going to be looking for a job.
Previous Work Experience:
Mizuho Bank of Japan
2001-2005 - Senior Accounts Broker
Accomplishments: Served client interests...blah, blah, blah,... with responsibility culminating in the brokering of a $200 million deal for the company.
Re:Data Validation (Score:1, Funny)
Nah, you'd probably spend all day screwing around writing code.
Re:The End Of Slashdot (Score:3, Funny)
You don't know what you're talking about since you're obviously both a Slashdot fanboy and a Digg fanboy!
Choose a side, traitor!
Re:Would be nice, but not really... (Score:4, Funny)
Seriously, wtf does "OK" mean in response to the question "Are you sure you want to take this action?" What if you went to the grocery store and the clerk asked if you needed help carrying your bags to your car and you responded "Cancel"