...Because it's to much like trying to charge someone with rape at an orgy.
It probably would help if it was written as DoS (Denial of Service), but I'm really not sure if that is the proper form.
Sounds to me like some recent change made to somebody's automated trade robot had a coding error in it, and it took whoever owned it a week to notice it (or more likely get called by whoever was watching it to see what it was up to) and finally pull the plug. That might also explain why no criminal investigation was conducted.
It's not like they don't know who's program caused it. From the sketchy news it doesn't look like the program tried to stealth its identity either. Which makes me less suspicious as to its "motives" since you can't place a stock order anonymously. You need to sign onto an account before you can do that. A genuinely malicious program would have come at them from hundreds of different directions under thousands of different IDs.
Nope. Definitely sounds more like a big brokerage or investment fund had a bad program slip the leash on them. (CNBC often seems to looking for an "enemy action" story lately - even when there isn't one.)
Maybe I'm a bit cynical, but it seems to me that Wall Street *is* malicious intent.
The program accounted for 4% of all trade orders, and all of those orders were bogus. That's a huge volume of fake orders.
Like, who the heck wakes up and says to themself, "I think I'll enter 200 million fake orders this week!"
A genuinely malicious program would have come at them from hundreds of different directions under thousands of different IDs.
Not so sure about that. This seems to me to be more about gaming the system. That's what I meant by "an odd DoS" attack. It's not DDoS, but rather simple DoS. The aim doesn't seem to be to bring the system down, as you would expect with a DDoS, but rather to create latency or to simply clog up the system.
I don't know exactly how latency would affect the system, but then again, we're talking about the same criminals that thought up a way to give massive number of mortgages to anyone and everyone that could sign on a dotted line, then package up and securitize those mortgages, con some corrupt ratings people into labeling them as high-grade investments, fraudulently sell those off to different firms, including retirement funds, bet that those investments would tank, wait for the entire bubble to burst, then con the government into bailing everyone out for gambling, and walk away with trillions of dollars in their pockets.
What does that say about that crowd?
They're smart. Damn smart. They know how to take advantage of things. Their intelligence is only exceeded by their criminality.
So, I have a very hard time believing that any kind of manipulation there is "innocent" or "just testing the waters". If they are testing, I think it would be naive to assume that they're testing in the same way that we would test some software -- they're testing to see if they can move in for the kill.
But then again... I *might* be cynical...