Questions that baffled me

  The development team gets a call by CEO that they need to implement a new feature in SMARS (their system) to take trades from dark pools as well in addition to the regulated markets.   The development team had 30 days to comply with the new rule. Although the CEO himself was not in favour of this new feature he had to anyway go for it as it meant retaining existing business.   The release date for the new feature in the system was set to 9:30 AM EST on August 1, 2012   The plan was to deploy the new system behind a feature flag the week before the deadline; when the market opened on August 1, they'd simply turn it on.   At 9:30 AM EST on August 1, the Knight developers did just that: they enabled the feature flag, and SMARS began to route orders through to the RLP—they were live!   But something was wrong. Their charts showed anomalous spikes in trading activity on the open markets. At 9:34 AM, the NYSE called  Knight was executing a lot of trades—so many, in fact, that trading v

Lehman came back from a near death experience during 1998 LTCM Collapse. They then got into risk management and got their acts together. However slowly all of that again started to fade and due to management arrogance and hubris they defied risk. This led to their collapse in 2008. AIG was more of a systemic entity backing a lot of collateral from other banks. Being more of a systemic risk it was saved.     https://knowledge.wharton.upenn.edu/article/the-good-reasons-why-lehman-failed/

It makes me sad to see that just like Vishwamitra, Walter also fell prey to his own desires that caused his doom. Anyways he was a teacher that made physics simple and I still remember his lectures that have taught me so much   Walter Lewin's Lectures on Physics   https://www.youtube.com/playlist?list=PLERGeJGfknBR3pXCPlV3bgb_qHCSNOdBf