http://www.dailykos.com/storyonly/2009/7/7/750786/-Incredibly-Shrinking-Liquidity-as-Goldman-Flushed-Quant-Trading
Can't say much for the source, but if this is legitimate, it's fucking dynamite.
Damn.
Quote from: Hawk on July 10, 2009, 03:26:40 AM
Damn.
If this is true, then they've been manipulating the market for an unknown length of time, at a level never seen before.
This is gonna make Madoff look like a small time pickpocket.
i thought i recalled hearing somewhere that the code was compromised recently and they had to scramble...
can't find the article now though....
oh, hey. speaking of GS and evil....
have you read the latest Matt Taibbi article on them? definitely worth the read. those fuckers are evil....
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine?commentPage=3#rate
http://zerohedge.blogspot.com/2009/07/is-case-of-quant-trading-industrial.html
I had no idea what this is about ... but this link cleared it up slightly.
Quote from: Iptuous on July 10, 2009, 04:02:52 AM
i thought i recalled hearing somewhere that the code was compromised recently and they had to scramble...
can't find the article now though....
oh, hey. speaking of GS and evil....
have you read the latest Matt Taibbi article on them? definitely worth the read. those fuckers are evil....
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine?commentPage=3#rate
Apparently, the code that was compromised was the code they were using to game the system.
Quote from: The Good Reverend Roger on July 10, 2009, 04:21:11 AM
Quote from: Iptuous on July 10, 2009, 04:02:52 AM
i thought i recalled hearing somewhere that the code was compromised recently and they had to scramble...
can't find the article now though....
oh, hey. speaking of GS and evil....
have you read the latest Matt Taibbi article on them? definitely worth the read. those fuckers are evil....
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine?commentPage=3#rate
Apparently, the code that was compromised was the code they were using to game the system.
Which is apparently a matter of national security (at least from what i gathered from the link). This shit blows my mind.
Quote from: B_R|S on July 10, 2009, 04:34:30 AM
Quote from: The Good Reverend Roger on July 10, 2009, 04:21:11 AM
Quote from: Iptuous on July 10, 2009, 04:02:52 AM
i thought i recalled hearing somewhere that the code was compromised recently and they had to scramble...
can't find the article now though....
oh, hey. speaking of GS and evil....
have you read the latest Matt Taibbi article on them? definitely worth the read. those fuckers are evil....
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine?commentPage=3#rate
Apparently, the code that was compromised was the code they were using to game the system.
Which is apparently a matter of national security (at least from what i gathered from the link). This shit blows my mind.
Best part...this Russian guy doesn't even know who he sold it to. :lol:
This is the perfect storm of corruption, greed, and stupidity.
The even funnier part will be the complete lack of investigation. :lulz:
Quote from: Requia on July 10, 2009, 05:00:19 AM
The even funnier part will be the complete lack of investigation. :lulz:
If this hits the major media, I'll be more than a little surprised.
Also, this:
QuoteThe purpose of this Information Memo is to advise all member organizations that the New York Stock Exchange LLC (NYSE) will be decommissioning the requirement to report program trading activity via the Daily Program Trading Report (DPTR), which was previously approved by the Securities and Exchange Commission (the Commission).1 The last trade date for which member organizations will be required to file the DPTR with the Exchange will be July 10, 2009 and therefore the last required date to submit the DPTR will be July 14, 2009.
http://apps.nyse.com/commdata/PubInfoMe ... F006D4F66/
Records? We don't need no records!
More:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDH30o9l0jn0
Oh, this is getting ugly. :lulz:
IF publicized, this could be the trigger for stock market re-regulation
but I doubt it
Quote from: Nigel on July 10, 2009, 05:29:09 AM
IF publicized, this could be the trigger for stock market re-regulation
but I doubt it
They just peeled another layer of regulation off. See above.
Saw it
That is the "scrambling to CYA" part
IF it gets much attention, it could lead to a much-needed backlash and re-regulation. But, as I said, I doubt it.
Quote from: Nigel on July 10, 2009, 05:40:44 AM
Saw it
That is the "scrambling to CYA" part
IF it gets much attention, it could lead to a much-needed backlash and re-regulation. But, as I said, I doubt it.
The smaller outlets are covering it very well, good backup, etc.
The major media is too busy with the MJ parade, apparently.
Quote from: The Good Reverend Roger on July 10, 2009, 05:13:42 AM
Quote from: Requia on July 10, 2009, 05:00:19 AM
The even funnier part will be the complete lack of investigation. :lulz:
If this hits the major media, I'll be more than a little surprised.
Also, this:
QuoteThe purpose of this Information Memo is to advise all member organizations that the New York Stock Exchange LLC (NYSE) will be decommissioning the requirement to report program trading activity via the Daily Program Trading Report (DPTR), which was previously approved by the Securities and Exchange Commission (the Commission).1 The last trade date for which member organizations will be required to file the DPTR with the Exchange will be July 10, 2009 and therefore the last required date to submit the DPTR will be July 14, 2009.
http://apps.nyse.com/commdata/PubInfoMe ... F006D4F66/
Records? We don't need no records!
Borked link.
Quote from: Jerry_Frankster on July 10, 2009, 07:14:31 AM
Quote from: The Good Reverend Roger on July 10, 2009, 05:13:42 AM
Quote from: Requia on July 10, 2009, 05:00:19 AM
The even funnier part will be the complete lack of investigation. :lulz:
If this hits the major media, I'll be more than a little surprised.
Also, this:
QuoteThe purpose of this Information Memo is to advise all member organizations that the New York Stock Exchange LLC (NYSE) will be decommissioning the requirement to report program trading activity via the Daily Program Trading Report (DPTR), which was previously approved by the Securities and Exchange Commission (the Commission).1 The last trade date for which member organizations will be required to file the DPTR with the Exchange will be July 10, 2009 and therefore the last required date to submit the DPTR will be July 14, 2009.
http://apps.nyse.com/commdata/PubInfoMe ... F006D4F66/
Records? We don't need no records!
Borked link.
http://apps.nyse.com/commdata/PubInfoMemos.nsf/AllPublishedInfoMemosNyseCom/85256FCB005E19E8852575DF006D4F66/
Quote from: rubickspoop on July 10, 2009, 08:05:14 AM
Internet records indicate Singh's Web site is located in Bavaria (//http://)
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDH30o9l0jn0 (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDH30o9l0jn0)
Oh, shit! Illuminati?
Perhaps they killed MJ to provide cover for this would-be scandal that SHOULD cause a majority of people to lose faith in our economic system.
Well, shit. Conversation over. :|
Why is it that some people feel they have to be the next goddamn Lenny Bruce on every fucking thread, no matter what the hell it is about? There's nothing like doing a shitload of digging on a subject, then having some asswipe come prancing in, trying to be fucking Robert Anton Wilson in one of his more incoherent moments?
Goddammit. Fucking piss me off.
OK, now seriously, great digging by all of you. I didn't have a goddamn clue GS runs the show like it does. Now I do, thanks to you fine people.
Here is a related link that I found: http://zerohedge.blogspot.com/2009/07/new-york-stock-exchange-we-screwed-up.html (http://zerohedge.blogspot.com/2009/07/new-york-stock-exchange-we-screwed-up.html)
I have found that zerohedge blogspot to be somewhat clear, an interesting read, and quite opinionated (in a very good way, IMO). There is some good discussion going on there, too.
I don't think there's a chance of the mainstream media picking this up. And even if they do, there's no way they will report what actually happened. Goddamn, our system is fucked up. I'm not feeling all that hopeful for the future right now.
edit: at TGRR: i accept your tongue-lashing and apologize for not recognizing the work it takes to find real information and for mucking up your threads
Quote from: Iptuous on July 10, 2009, 04:02:52 AM
i thought i recalled hearing somewhere that the code was compromised recently and they had to scramble...
can't find the article now though....
oh, hey. speaking of GS and evil....
have you read the latest Matt Taibbi article on them? definitely worth the read. those fuckers are evil....
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine?commentPage=3#rate
Yeah, and Matt Taibbi is pretty much the only guy I have seen really getting his teeth into this story (which I admit I don't fully understand the implications of yet, but intend to do some reading on it over the weekend, if I can).
Hey, check this out.
http://www.nytimes.com/2009/07/13/business/13goldman.html?hp
Apparently analysts say Goldman-Sachs might earn 2 billion dollars in profits this quarter.
ETA: nevermind, they beat the analysts. $3.44 billion in profits this quarter; $5 a share.
"This business has performed well because the bank has taken on greater levels of risk since the end of last year."
"Goldman's trading revenue has been helped by the fact that several of its rivals went out of business in the credit crisis, a fact that has added to its market share. It has also been able to increase its fees."
I wonder which of these two things helped more? :?
http://www.nytimes.com/2009/07/15/business/15goldman.html?_r=1&hp
The NYT has noticed something is up with programmatic stock transactions, and they mention that Goldman-Sachs is one of the companies that has been benefiting from this.
http://www.nytimes.com/2009/07/24/business/24trading.html?_r=1&hp
i don't get it....
why are they trotting this out like it's new news?
Bill Maher had Matt Taibbi on his show this past weekend and challenged him thoroughly...it was interesting to see. I know Maher doesn't believe that the rich should get richer, but he did challenge the notion that NOT helping banks would have been a good thing--though Taibbi had a good answer for that vis a vis the money "wasted" on the banking industry could be used to fund health care 30 times over. Taibbi's premise is more or less that G-S controlled the market through the people they have in power in the government. Nice. And it makes a lot of sense.
Quote from: Broken AI on July 27, 2009, 09:14:18 PM
its new to me.
:argh!:
bunch of bent bastards.
I'm shocked. SHOCKED, I TELL YOU!
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