“Nasdaq Takes Blame for Stock Halt,” Wall Street Journal, August 30, 2013 C1. While shouldering some of the blame for the trading halt, Nasdaq still argues rival platform NYSE Euronext was the root cause (I use this term with reservation, as it was not used in the story. Root cause investigations are to find what to do differently the next time, not to find out what “caused” an accident. But people use the term as a noun anyway.). http://on.wsj.com/16XSHvT
When you find yourself in a hole, the first thing to do is stop digging. One of the lessons from successful crisis management is to act responsibly, while leaving determination of legal liability for later.
When you’re in the information business, being sloppy is not good. Being snarky and blaming someone else in the business is worse. What’s a reputation worth, anyway?