A brillian plan to take equity from the shareholders and give it to private equity.. I suspect that many more criminal trading firms will start to do this in the future... Its free money
i wouldnt be surprised if they originated the "glitch" on purpose to steal equity from KCG's books before bankruptcy lol
I would bet that was the plan... these programs would have tons of safty precautions written in such as1. volume alarm..2. product loss alarm3. inverted bid askI suspect if you follow the money you would find that the benificiarys of the " Glitch" were not random traders but were 1% ters associated with Knight..
Either that of file BK... then the common gets .07I'll take $3.20
too much paperwork and forfiture of Privacy to file bankruptcy...Its always better just to leave the shareholders some crumbs.