Discussion Post: Business
On October 2, 2002, a clerk at Bear Stearns had erroneously entered an order to sell nearly $4 billion worth of securities. The trader had sent the clerk an order to sell $4 million worth. Only $622 million of the orders were executed when the error was found and the remainder of the orders were cancelled. Reports stated that it was a human error, not a computer error, and that it was the fault of the clerk, not the trader.
What is your opinion of these reports? What controls could have prevented this error?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.