Million, billion, what’s the difference?

[I’ve bumped this post up, because it got quickly drowned on the homepage yesterday by U.K. election coverage. -ed.]

Thursday afternoon’s stock-market PANIC!!!!! may have been caused, in large part, by a trader typing “b” (for billion) instead of “m” (for million).

Charles Fenwick suggests a Budweiser commercial based on this event:

Real Men of Genius

Here’s to you, Mr. Wall Street trader. Thanks to your fat fingers, your high-powered firm placed an order in the billions when it should have been millions.

(What a shi**y deal!)

The market was already jittery, but your act of brilliance caused a full-fledged panic.

(This sucker’s goin’ down!)

The market survived … this time. Next time you place a big order, be more careful, will ya?

(Mr. Fat-fingered over-leveraged Wall Street trader…)

In other news, the Obama Administration announced that it only meant the stimulus package to be $787 million. Oops! 🙂

P.S. Here’s a stock chart of the day’s events, via Below the Beltway: