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To: NickSE who wrote (76895)11/23/1999 7:08:00 PM
From: pater tenebrarum  Respond to of 86076
 
yep...and selling ads to each other, which are booked as 'revenue'.



To: NickSE who wrote (76895)11/23/1999 8:28:00 PM
From: NickSE  Respond to of 86076
 
Is it me or shouldn't the SEC be doing something about these outages and not just offering more lip service? -f-

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Online brokerages are "probably" (HELLO!?!?!) financially responsible for computer outages that leave their customers unable to trade, Securities and Exchange Commission Arthur Levitt said yesterday.

Levitt's comments will bring little comfort to executives at online trading firms who are terrified of lawsuits from customers claiming they lost money due to computer glitches.

E*Trade has already been slapped with such a suit by an Ohio woman who attributes $40,000 in losses to computer problems at the online trading site. The suit seeks class-action status and could open the floodgates for similar litigation against other companies. (POOTS anyone?)

nypostonline.com