Citi's Fat-Finger Trade Seen Costing Bank More Than $50 Million

The video discusses a significant trading error at Citibank, known as a 'fat finger' incident, which led to a massive sell-off affecting markets from Paris to Warsaw. The error wiped out $300 billion before a recovery. Citibank is in talks with regulators to understand the cause and mitigate future risks. The video also recounts a similar past incident at Bank of America, highlighting the potential for human error in trading environments.

What was the immediate financial impact of the 'fat finger' error at Citibank?

• No significant impact

• A $100 million loss

• A $300 billion temporary market wipeout

• A $50 million gain

What is Citibank currently doing in response to the trading error?

• Firing the responsible staff

• Ignoring the incident

• Discussing with regulators and reviewing algorithms

• Increasing trading activities

What potential impact on Citibank employees is mentioned due to the trading error?

• Increased salaries

• Bonuses might be at risk

• More vacation days

• Job promotions

What caused the accidental $50 million trade at Bank of America in 2006?

• A deliberate action by a trader

• A power outage

• A rugby ball hitting a keyboard

• A computer virus

What does the Bank of America incident highlight about trading environments?

• The potential for human error

• The need for more computers

• The benefits of manual trading

• The importance of sports in the office