Knight Capital suggests a disgustin’ discussion
Poor Knight Capital can’t seem to buy a break these days. Or, apparently, a dictionary.
Knight, of course, suffered the mother of algorithm malfunctions Aug. 1 that created market havoc, cost it $440 million and nearly sank the company.
So it was inclined to show mercy to Nasdaq’s hiccup on the Facebook IPO, signaling last Thursday that, unlike many peers, it supported Nasdaq’s $62 million loss-reimbursement proposal.
Trouble is, it did it with a letter urging wider study of such problems, which said “the time is right for a more fulsome discussion on this issue.”
“Fulsome” is defined in Webster’s primarily as “disgusting or offensive, especially because excessive or insincere.”
Do we really need another “fulsome discussion” during political season?