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Damn, it feels good to be a bankster.

Started by The Good Reverend Roger, July 10, 2009, 03:24:40 AM

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The Good Reverend Roger

July 10, 2009, 03:24:40 AM
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.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

The Good Reverend Roger

#2
July 10, 2009, 03:41:35 AM
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.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Elder Iptuous

#3
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

Bu🤠ns

#4
July 10, 2009, 04:06:33 AM
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.

The Good Reverend Roger

#5
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.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Bu🤠ns

#6
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.

The Good Reverend Roger

#7
July 10, 2009, 04:59:40 AM
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.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Requia ☣

#8
July 10, 2009, 05:00:19 AM
The even funnier part will be the complete lack of investigation.   :lulz:
Inflatable dolls are not recognized flotation devices.

The Good Reverend Roger

#9
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!
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

The Good Reverend Roger

#10
July 10, 2009, 05:21:43 AM
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Mesozoic Mister Nigel

#11
July 10, 2009, 05:29:09 AM
IF publicized, this could be the trigger for stock market re-regulation

but I doubt it
"I'm guessing it was January 2007, a meeting in Bethesda, we got a bag of bees and just started smashing them on the desk," Charles Wick said. "It was very complicated."

The Good Reverend Roger

#12
July 10, 2009, 05:37:00 AM
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.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

Mesozoic Mister Nigel

#13
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.
"I'm guessing it was January 2007, a meeting in Bethesda, we got a bag of bees and just started smashing them on the desk," Charles Wick said. "It was very complicated."

The Good Reverend Roger

#14
July 10, 2009, 05:43:49 AM
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.
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.
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