2008 Financial Crisis
A paper from the New England Complex Systems Institute claims that they have found evidence that suggests the 2008 financial crisis was triggered by a "Bear Raid" market manipulation by short sellers against Citigroup late in 2007. The uptick rule was repealed in in July, 2007, and the alleged bear raid took place in November, 2007.
Read more about this topic: Uptick Rule
Famous quotes containing the words financial and/or crisis:
“The woman who does her job for society inside the four walls of her home must not be considered by her husband or anyone else an economic dependent, reaching out her hands in mendicant fashion for financial help.”
—Mary Barnett Gilson (1877?)
“Computerization brings about an essential change in the way the worker can know the world and, with it, a crisis of confidence in the possibility of certain knowledge.”
—Shoshana Zuboff (b. 1951)