Erik Schatzker, Waddell & Reed #flashcrash
A guy by the name of Erik Schatzker (Bloomberg Anchor) put out this tweet earlier: Breaking on Bloomberg: SEC fingers Waddell & Reed trading in #flashcrash. Official report won’t ID firm. $WDR
Makes it sound like Waddell & Reed in Kansas City caused the Flash Crash. The real story is here:
Waddell & Reed was only a questioned participant, not the cause, according to the Bloomberg story. Erik needs to get the story a little more accurate. He was right, they won’t be in the report but “fingered” is not correct in making it sound as if Waddell & Reed was the sole cause.