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Demeter

(85,373 posts)
24. Investigations Expand in Hacking of A.P. Twitter Feed By NICOLE PERLROTH NYT
Sat Apr 27, 2013, 09:58 AM
Apr 2013
http://bits.blogs.nytimes.com/2013/04/24/investigations-expand-in-hacking-of-a-p-twitter-feed/

...“We have standard operating procedures whenever there are market developments, and this is no exception,” said John Nester, an S.E.C. spokesman. “These procedures start with getting the facts about what occurred. We do not limit ourselves to looking at the catalyst for an event, but also its repercussions, to determine whether any further inquiries or actions are warranted.”

The A.P.’s account was the fourth prominent Twitter account of a media organization to be hacked in recent months — accounts for CBS, NPR and the BBC have all been hijacked by hackers recently — but the A.P. incident had the most serious impact. Within seconds of the fake A.P. post, the Dow Jones Industrial Average nosedived, dropping 150 points, before recovering five minutes later. High-frequency trading algorithms that are designed to make trades based on certain headlines served as a catalyst...

Mr. Chilton, who referred to high frequency traders as “cheetahs,” noted that there was no “kill switch” in their technology to prevent them from acting on misinformation. “We need to set up basic rules of the road,” Mr. Chilton said. “We should not just accept technology blindly.”

The timing of the A.P. on Twitter comes just two weeks after Bloomberg announced that it would start incorporating Twitter feeds into its financial information terminals. The new feature allows traders to monitor social media buzz and market-moving news from their Bloomberg terminals. Bloomberg introduced the service after it became clear that traders were already using the service to inform trading decisions. Last August, an erroneous tweet suggested that Syrian President Bashar al-Assad was dead, created a surge in crude oil prices...
2 MORE BANKS BITE THE DUST Demeter Apr 2013 #1
I see someone noticed that we noticed they were not posting bank failures, well done. kickysnana Apr 2013 #17
I have to apologise for the tardiness of this thread Demeter Apr 2013 #2
REPOST: Everything Is Rigged: The Biggest Price-Fixing Scandal Ever Demeter Apr 2013 #3
REPOST: WikiLeaks Was Just a Preview – by Matt Taibbi, Rolling Stone Demeter Apr 2013 #4
Nicolas Maduro Did Not Steal the Venezuelan Election By Greg Palast Demeter Apr 2013 #5
UNBELIEVABLE! Demeter Apr 2013 #6
Catherina on DU is the best source for Venezuela--see this! Demeter Apr 2013 #7
Our new Chair of the Florida Democratic Party was a lobbyist for ChoicePoint in 2000. Fuddnik Apr 2013 #31
wow Demeter Apr 2013 #32
Long past due. Fuddnik Apr 2013 #33
THURSDAY: Gold futures logs biggest one-day gain of the year Demeter Apr 2013 #8
Obama asks Supreme Court to review appointments ruling Demeter Apr 2013 #9
Congress passes plan to ease flight delays Demeter Apr 2013 #10
Budget Politics Forcing Congress To Pick Favorites Demeter Apr 2013 #11
G.O.P. Claims Victory as Bill to Curb Flight Delays Passes Demeter Apr 2013 #27
The 1 Percent’s Solution By PAUL KRUGMAN Demeter Apr 2013 #12
Health Chaos Ahead By DAVID BROOKS Demeter Apr 2013 #13
Same here (n/t) bread_and_roses Apr 2013 #22
Consumers' shift to older iPhones raises concerns on Wall Street Demeter Apr 2013 #14
THE EUROMESS COMPENDIUM Demeter Apr 2013 #15
Economic Slowdown Coming - Even for the Fatcats By Yves Smith Demeter Apr 2013 #16
Also ex-mployees who have survived the worst will not do anything to keep their jobs. kickysnana Apr 2013 #18
Musical Interlude hamerfan Apr 2013 #19
Robert Reich: Everything You Need to Know About How Chained CPI Will Screw Over Seniors Demeter Apr 2013 #20
4 Recent Victories for the Common Good Demeter Apr 2013 #21
How One Tweet Almost Broke US Financial Markets By Nick Baumann MOTHER JONES Demeter Apr 2013 #23
Investigations Expand in Hacking of A.P. Twitter Feed By NICOLE PERLROTH NYT Demeter Apr 2013 #24
The Morose Middle Class By CHARLES M. BLOW Demeter Apr 2013 #25
With Winters Gone, Can We Be Far Behind? By DICK CAVETT FOLLOW-UP ON LAST WEE Demeter Apr 2013 #26
Duty calls Demeter Apr 2013 #28
Potty calls Fuddnik Apr 2013 #29
Musical Interlude II hamerfan Apr 2013 #30
Pool Time. Fuddnik Apr 2013 #34
South Africa’s Mines Union to Ask for Double-Digit Pay Increase xchrom Apr 2013 #35
China Industrial Companies’ Profit Growth Slows as Economy Cools xchrom Apr 2013 #36
Spain Is Beyond Doomed: The 2 Scariest Unemployment Charts Ever xchrom Apr 2013 #37
Germany's Greens lurch left in bid to beat Merkel xchrom Apr 2013 #38
Bank of Japan lifts economic forecasts xchrom Apr 2013 #39
Spain revises down its economic forecast xchrom Apr 2013 #40
Luxembourg Is Not The Next Cyprus xchrom Apr 2013 #41
Pull the plug on the Euro. Demeter Apr 2013 #46
Paul Farrell: Capitalism is killing our morals, our future DemReadingDU Apr 2013 #42
Mike Shedlock: Is Capitalism Killing Our Morals and Economy? DemReadingDU Apr 2013 #43
PonziWorld: Ground and Pound On Global Ponzi Capitalism DemReadingDU Apr 2013 #44
"Feed the Children" Would be the start of a GREAT Platform Demeter Apr 2013 #45
Speechless Demeter Apr 2013 #47
Musical Interlude III hamerfan Apr 2013 #48
NEED HELP! TAKE NEXT WEEKEND--PLEASE! Demeter Apr 2013 #49
I could probably start things off Friday evening. Fuddnik Apr 2013 #51
My feet are not THAT big! Demeter Apr 2013 #52
It's Derby Week-end. I guess that will be the theme. Fuddnik Apr 2013 #53
EARNINGS REPORT: GOOD PROFITS, BAD REVENUES xchrom Apr 2013 #50
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