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Prof. Richard Sylla on the electronic trading error at Goldman Sachs

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Excerpt from Marketplace -- “'What happened was the computer program mistakenly started to sell options at like one dollar an option, when in fact the market price was higher than that,' says Richard Sylla, an economics professor at New York University. 'Basically, Goldman sold a lot of options cheaply. And if they have to buy them back, they will lose money because they will have to pay the market price for them.'”

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