If something is newsworthy, but nobody reports on it or talks about it, is it still “news?” We ask ourselves this question today, as earlier this morning; the CME tweeted about a power surge cutting off phone and internet service on the trading floor. If anyone had any doubts about floor trading versus electronic trading, this shows it’s really no contest these days.
In other futures industry news, remember the whole sequester debate? Just when you think that was in the past… it rears its ugly head. The CFTC is furloughing workers as much as two weeks due to sequester cuts. In the finance world, J.P Morgan made history this week for agreeing to pay $13 Billion over the bank’s mortgage-based securities during the 2008 financial collapse. We would comment on this, but Jon Stewart has a brilliant commentary on how the talking heads framed this case. Enjoy your weekend reads.
Just for fun:
- Slate’s News of the week Quiz – (Slate)
- American network NBC publishes map showing the whole of Australia is on fire. Oops – (News.com)
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