Above a certain level I don't think your thesis is currently valid.
For a "bank bank", "playing with people's life savings", the lower level transnational stuff, yeah. Although I don't get the impression that the current stuff doing that is prone to disastrous failures, and I believe the system has some slack here and there to reverse errors, i.e. transfers of money vs. buying and selling financial instruments. The current infamous failure in this area, which was WRT to the latter, was at Knight Capital.
But above a certain level, at which point we're not so much "playing with people's life savings" (or, rather, if they have a clue, only a small portion of them), the situation can be a lot more fluid. E.g. changing trading strategies, which can be driven by the capriciousness of governments. The current state of the art doesn't make it practical to embed the US tax code into source code amenable to automated proof, especially before it changes again, right??
For a "bank bank", "playing with people's life savings", the lower level transnational stuff, yeah. Although I don't get the impression that the current stuff doing that is prone to disastrous failures, and I believe the system has some slack here and there to reverse errors, i.e. transfers of money vs. buying and selling financial instruments. The current infamous failure in this area, which was WRT to the latter, was at Knight Capital.
But above a certain level, at which point we're not so much "playing with people's life savings" (or, rather, if they have a clue, only a small portion of them), the situation can be a lot more fluid. E.g. changing trading strategies, which can be driven by the capriciousness of governments. The current state of the art doesn't make it practical to embed the US tax code into source code amenable to automated proof, especially before it changes again, right??