...these citizens could spend their time volunteering their time and skills in their community and actually make a fellow human's life better on this planet. While this might be a good ploy to pique the interest of some students, I'm trying to figure out how this effort won't be moot in a few years when the computer image recognition/analysis software can do the same task much more efficiently.
You don't have to be too far into the industry to know the answer to this. This problem is that the Fed had to balloon it's balance sheet to support the market during the credit crisis, they took sacks of dog poop in exchange for US Treasuries.
So the Fed is sitting on flaming bags of poo, but we already know that. Some career politician discussing a useless audit won't throw our semi-pseudo-efficient market into chaos.
This is likely the result of a HFT program error. The responsible party will be fined and trades will be cancelled, no huge story here. Traders today knew that the market sliding that hard, that fast was nothing more than a bug in someone's code.