NEW YORK TIMES | by FLOYD NORRIS
It was just a quarter-century ago that Wall Street was shaken to its core by the Oct. 19, 1987, stock market crash.
… What it [signified] was the beginning of the destruction of markets by dumb computers. Or, to be fair to the computers, by computers programmed by fallible people and trusted by people who did not understand the computer programs’ limitations. As computers came in, human judgment went out.