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Indian Programmer Who Built “Flash Crash Trader” Software Goes On Trial

Smartest people our brilliant companies can’t do without.

Isn’t that right Mr. Trump?

No wonder Wall St. crashed after outsourcing to India Incs in 2008.

Manipulation? Indians?

Nah…… couldn’t be!

https://www.zerohedge.com/news/2019-04-01/scapegoating-continues-programmer-who-built-flash-crash-trader-software-goes-trial

“The trial of a Chicago programmer who allegedly created the software used by Navindar Singh Sarao, the “flash crash trader” who pleaded guilty in November 2016 to one count of wire fraud and one count of spoofing futures markets, began on Monday, with Sarao expected to testify as the prosecution’s key witness.

Jitesh Thakkar, who is being charged with conspiracy to manipulate markets, never placed any trades. Prosecutors are claiming that the conspiracy occurred between 2011 and April 2015, beginning with an email exchange with Sarao where he agreed to build the software. For those keeping score at home, this means that Thakkar’s alleged misbehavior occurred after the 2010 crash (though, to be fair, there have been several similar ‘flash crashes’ since, including the Aug. 24, 2015 ‘flash crash’ where the Dow dropped 1,100 points during the first five minutes of trading”.