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Goldman Sachs Part III - 97% right market calls

Original post made by resident, Barron Park, on Aug 5, 2009

High Frequency Trading, insider contacts, and 97% market calls: Goldman Sachs has it all it needs to make money.

The data coming out from Goldman Sachs (GS) Q2 trading activities leaves one incredulous. I won't go into rehashing all the conspiracy theories but as Gordon Gecko says - this is a game of information. And no one is more connected to the loop than Goldman. I have not had time to write a piece on the high frequency trading scandal erupting but I've often said I only know so much about the market, and even what I know scares me as its a Wild Wild West environment. Our sheriff (SEC) is one most consider inept if not captured by those firms it is supposed to regulate. Harry Markopolos who was trying to hand the SEC the Madoff case for a decade pretty much explained the issues [Mar 1, 2009: 60 Minutes, Harry Markopolos - the Man who Figured Out Bernie Madoff]

Web Link

Comments (2)

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Posted by anon.
a resident of Crescent Park
on Aug 7, 2009 at 11:09 pm

no one is listening i guess ... so we have at least one more cycle to go through if the country can survive it.

thanks for putting a name with the guy who tried and tried to get madoff looked at.

too much money running things.

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Posted by R Wray
a resident of Midtown
on Aug 8, 2009 at 9:36 am

This looks like envy of Goldman's success. We are in trouble when success is not possible. I doubt that Goldman used force or fraud.
Contrast this with the government secretly buying 47% of the recent bond/note auction. See YouTube: Web Link

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