Reading the SEC report on the Flash Crash, they seem to be all hot and bothered about why so many ETF's were buttf**ked. I highlighted here on ET , a Gold ETN that traded as high as $100, when it was only worth $10. The Porn Watchers didn't seem to care then, that this was going on. Nothing that happens is new.
1) Not working on it, got there. 2) You missed the point. But if you pass a mirror with your hat off, you'll see one.