Trader loses $285m in minutes An error by a City of London share trader is reported to have cost his bank almost $285 million in a matter of minutes. The Guardian newspaper says the mistake also caused massive fluctuations on the stock market on Friday. The paper quoted unnamed market insiders as saying that the mistake was made by a trader with the Credit Suisse First Boston bank, who twice, or perhaps three times, mistakenly entered an order to buy shares worth $3.4 billion. It says the London Stock Exchange was looking into the fluctuations that hit the market in mid-morning, and which, The Guardian says, allowed several other traders to make spectacular windfall profits in a matter of minutes.END. After Nugan Hand and the BCCI fold you gotta go somewhere,right?
