Any of the unlucky traders who didn’t get a second to give John Thain the finger as they were shown the door during the NYSE’s killing spree over the last few months—either because they were being shoved out of it too quickly or because it was too cold and they were wearing mittens, in which case we’d suggest simply raising one’s hand and saying “Guess which figure I’m holding up?”—got a second chance late Tuesday night. The Post reports that the some of the victims of The Carnage of JT® think a “certain ‘I-told-you-so’ posture is warranted.”
"Someone pushed the sell button and guess what? There was no human there to stem the slide," said Ron Perez, a laid off specialist.
The Post, however, apparently feeling no sympathy for those lost in the hybridization of the floor, chalked the whole thing up to a bout of “crummy luck” for Thain, whose tenure, it waxes poetically, has been three years of “uninterrupted success.”
Champions of the Thain’s program claim, predictably, that the 416 point drop had “nothing to do with execution by the big board” and that “The hybrid system worked the way it was supposed to because human beings were able to step in and stocks could be traded manually…The situation has been resolved."
Opponents of the system (who think Thain should at least offer to pay for the tab Carney and Co. racked up Tuesday night), were apparently sent a quick note in response to their complaints/inquiries into the situation late last evening from the man himself, brief but not unclear in its point: “Stop your bitching.”
THAIN BLAME GAME [NYP]