Nasdaq CEO defends exchange's response to glitch

``Jim Angel, a finance professor at Georgetown University, said the exchange seems to have learned its lesson from its botched handling of Facebook's initial public offering last year. Nasdaq's outage didn't result in a flood of errant trades or wild price swings that might otherwise lead to a flood of investor lawsuits seeking hundreds of millions of dollars. "The market failed in a safe manner," Angel said. "We can live with the market down for a few hours. We cannot live with bad prices."''