commission for special help. exchange rules set strict limits on when trades can be reversed. in knight s case, the rules say trades made by mistake that are more than 30% off of the real market price can be undone. knight wanted more trades busted, but regulators said no. the message was clear. once you make a trade, unless something has gone incredibly wrong. your word is your bond. you make a trade, you are expected to live up to it. people familiar with the matter say regulators are sending a clear message to investors: the rules on erroneous trades are meant to provide markets with certainty and they worked in this case. another message: firms need to have incentives to be careful and what happened to knight is a big incentive. right now i think that every i.t. manager is going to his boss and saying, give me a bigger budget so i make sure this isn t going to happen here. reporter: but that does not reassure critics who fear wall street firms have created computer
extremely aggressive at this stage. reporter: europe is a different story, which is why expectations are higher for the european central bank s meeting on thursday, especially after comments from e.c.b. head mario drahgi last week that seemed to promise aggressive action to stem the financial crisis. the conditions in europe are much more volatile, less stable than they are here. so any move by the e.c.b. could have a much more stabilizing impact than the moves by the fed could have here. reporter: but with expectations rising for aggressive action, so are chances for central bankers on both continents to disappoint skittish investors. darren gersh, n.b.r., washington. susie: still ahead, why size matters for companies faced with the threat of lower government spending on the military next year. tonight s word on the street is defense. nightly business report is brought to you by: captioning sponsored by wpbt tom: in advance of the central bank meetings in the u
extremely aggressive at this stage. reporter: europe is a different story, which is why expectations are higher for the european central bank s meeting on thursday, especially after comments from e.c.b. head mario drahgi last week that seemed to promise aggressive action to stem the financial crisis. the conditions in europe are much more volatile, less stable than they are here. so any move by the e.c.b. could have a much more stabilizing impact than the moves by the fed could have here. reporter: but with expectations rising for aggressive action, so are chances for central bankers on both continents to disappoint skittish investors. darren gersh, n.b.r., washington. susie: still ahead, why size matters for companies faced with the threat of lower government spending on the military next year. tonight s word on the street is defense. nightly business report is brought to you by: captioning sponsored by wpbt tom: in advance of the central bank meetings in the u
if spain needs a bailout, there will surely be ripple effects around the globe. it affects the eurozone economy. and the eurozone is a very large trading partner of the united states. so, if you are a u.s. investor, the problems in europe are going to have an affect on your returns and we re seeing that in weak equity markets. reporter: the crisis in europe appears to be escalating. although spain is currently in the spotlight, it s far from the only concern. investors are also growing more worried about italy, because sicily is on the brink of economic collapse. erika miller, n.b.r., new york. susie: still ahead, this canadian oil firm, has a new owner: china s biggest oil company. we look at what it means for global oil markets. nightly business report is brought to you by: captioning sponsored by wpbt susie: so what spooked investors today? joining us now to talk more about the european financial crisis, andres garcia-amaya.. global market strategist at j.p. mo
if spain needs a bailout, there will surely be ripple effects around the globe. it affects the eurozone economy. and the eurozone is a very large trading partner of the united states. so, if you are a u.s. investor, the problems in europe are going to have an affect on your returns and we re seeing that in weak equity markets. reporter: the crisis in europe appears to be escalating. although spain is currently in the spotlight, it s far from the only concern. investors are also growing more worried about italy, because sicily is on the brink of economic collapse. erika miller, n.b.r., new york. susie: still ahead, this canadian oil firm, has a new owner: china s biggest oil company. we look at what it means for global oil markets. nightly business report is brought to you by: captioning sponsored by wpbt susie: so what spooked investors today? joining us now to talk more about the european financial crisis, andres garcia-amaya.. global market strategist at j.p. mo