as the networks hide the 'Audit the Fed' story, at some point the whole thing will come out, hopefully before it all crashes. Meanwhile, AIG now cashing in on bonuses while its all still a 'big secret'.

For a second there I read "Goatman has illegal software to trade".

I thought wow.. Goatee has come a long way.

But it turned out to be some boring topic.

I'm outta here....

You see nothing wrong here.

This is not the scandal you're looking for.

You can go about your business.

Move along.

GS has been inventing all kinds of interesting tricks lately.

This thread is getting little attention though it is probably the most dramatic accusation I have read in a long time. Whether it is true or not, I don't know but if it is.....

The Great American Bubble Machine
Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression
MATT TAIBBIPosted Jul 02, 2009 8:38 AM

You see nothing wrong here. This is not the scandal you're looking for.You can go about your business. Move along.

Nice call hagbard. Naw, nothing major.

GS, through access to the system as a result of their special gov't perks, was/is able to read the data on trades before it's committed, and place their own buys or sells accordingly in that brief moment

SUMMARY:

Goldman Sachs may just possibly have used security access codes and built a system to acquire trading information PRIOR to transaction_commit time points at NYSE.

The profitability of this split-second information advantage would have been and could have been extraordinary. Observed yielding profits at $100,000,000 a day.

GS has special access inside the system from its status assisting the Working Group on Financial Markets (colloquially the Plunge Protection Team) created by Presidential Order two decades ago. GC also acts as Special Liquidity Provider for NYSE.

It referred to a Presidential Order to decades ago, then later mentioned Reagan. Anyone know if he was the author?

In an era of unprecedented scandal and criminal activity, this may not be the worst, but it's up there!

Pay your competitors to make the opposite trade so that there is always a 'market'. Gotta love the ingenuity.

see OJ was right to kill him!

This is more important than you guys ever think...

Danni, good job posting Taibbi's article....I should mention though, that its only Matt Taibbi and Co. who seem to be tracking the heart of corruption that is Goldman Sachs.

see OJ was right to kill him!

#7 | Posted by truthhurts

ff

Is Goldman Stealing $100 Million per Trading Day?
Email this post Print this post
By Barry Ritholtz - July 9th, 2009, 6:02AM

Here's something to give the conspiracy buffs a total breakdown: Combine these stories from Bloomberg, Daily Kos, and Zero Hedge, and you can reach a rather unsavory conclusion:

Goldman Sachs's $100 Million Trading Days Hit Record

FBI Arrest Opens Goldman-Sachs' Pandora's Box

Intraday Observations

"Incredibly Shrinking Liquidity" as Goldman Flushed Quant Trading

What is the inference of potentially illegality here?

"That Goldman Sachs may just possibly have used security access codes and built a system to acquire trading information PRIOR to transaction commit time points at NYSE.

The profitability of this split-second information advantage would have been and could have been extraordinary. Observed yielding profits at $100,000,000 a day. [summary to address complaints with respect to complexity.]

GS has special access inside the system from its status assisting the Working Group on Financial Markets (colloquially the Plunge Protection Team) created by Presidential Order two decades ago. GC also acts as Special Liquidity Provider for NYSE.

With 60% dominance of NYSE program trading, what's good for Goldman defines what shows as overall market performance."

There is likely to be more info about this trickling out over the coming days and weeks. Stay tuned .

thanks for link YS 1

BL2 & Saint Johnson will eat it up, of course...