This is CBS Eye on the World.

Here's John Batchelor.

May 6th, 2010.

The Flash Crash.

What was it?

Is it gone?

Is it coming back?

I welcome Jim McTagueg, former Washington editor of Barron's Magazine, now a novelist in Lancaster, Pennsylvania. However, he is also the author of a book that is my guide here. Crapchute Investing,

how tech-savvy traders and clueless regulators turned the stock market into a casino.

He published it in 2011.

Now 15 years after the flash crash,

apparently it hasn't been solved,

or at least the flash crash is growing to flash plus crash.

Jim, a very good evening to you.

Thank you for this.

That day is marked in history.

As somebody was very clever.

As I understand it, the market that day was down, down about 300 points. Everybody was worried

about the debt crisis in Greece. Of course, it was weighing on all of us. And then with the market

off 300 points, all of a sudden, it went down another 600. Suddenly, at 247 p.m. East Coast time in the afternoon.

20 minutes later, it was back up to where it started, the mere 300, not a thousand off.

And those were the days where a thousand points was a real thing, not a blip, as it is today

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