Goldman Sachs Defends Trading Practices: Dark Pools, Flash Trading, Short Selling

Telegraph:

In a document handed to the US Securities and Exchange Commission (SEC), the investment bank asserts that such practices, some of which the SEC is looking to restrict, actually benefit investors by increasing competition and reducing costs.

Read the whole story: Telegraph

Comments

[mtt04]

Dear God, when will we hang these politicians and Wall Street crooks in the town square.

[bzb]

Honestly, how many investor really know about "dark pools." Ask the unions what "dark pools" are or state and federal employees what "dark pools" are. However, Goldman is still using the same old pitch line to get more of our money.

[msjimmied]

More light on this subject.

http://market-ticker.denninger.net/archives/1545-Goldmans-Dissembling-Dark-Pools-.et.al..html

[nextuser]

same old same old. stock market surging. more job loss. no heath care reform. no extension of unemployment benefits. more old cr4p.

good articles; http://financeopinionss.blogspot.com

no point in voting

[sloreader]

And if you believe this I've got a condo in Boca you might be interested in!

[RomeoMD25]

People working in finance grabbed two-thirds of the growth in GDP, with the rest of us scrambling for the other third.

Nor will the situation change anytime soon. The House Financial Services Committee is in charge of writing new rules to protect consumers, but as the respected Sunlight Foundation reports, 27 of the 71 members of that committee receive at least one-fourth of their campaign funds from the financial industry, with the rest of the committee members not far behind.

[grateful4thedead]

Never trust the squid.

The other posters are correct as well in regards to JP Morgan....they are the same as Goldman.

They are wrecking the United States of America along with the able assistance of Bernanke, Geithner, and Larry Summers.

[Carolab]

Everything always focuses on GOLDMAN. LOOK AT JP MORGAN!!!

[Carolab]

New website:

http://www.jpmorgan666.com

(By the same guy doing http://www.goldmansachs666.com)

SEE THE ARTICLE: JP MORGAN GUILTY OF CAUSING HOUSING BUBBLE

[PhilipTaylor]

Yes in terms of EV1L:

JPM = G0LDMAN!

[PhilipTaylor]

DERIVATIVE PURPOSE USE GIGANTIC HIDDEN FEES/COSTS TO EXTRACT INVESTOR WEALTH INTO WALL STREET EMPLOYEES POCKETS

http://www.atimes.com/atimes/Global_Economy/JK26Dj02.html

DERIVATIVES = Humanity's eternal quest to get something for nothing = Eureka!

DERIVATIVES = Wall Street's financial engineers' ingenuity in OBSCURING FEES!

DERIVATIVES = Offered to Average Investors (V1CT1MS) as "risk-free" way to get upside of equity investment with principal guaranteed.

DERIVATIVE REALITY = Principal PURPOSE was put investor wealth into broker's pockets through GIGANTIC HIDDEN FEES and COSTS.

[shivasquest]

No regulations ..no records what could be better....­..........­for criminals.

[PhilipTaylor]

G0LDMAN ARGUES FOR THEIR CONTINUED SECRET/AUTOMATED NANOSECOND THEFT FROM AMERICA & WORLD!

G0LDMAN DEFENDS SECRET/HIGH-TECH TRADING PRACTICES: DARK P00LS, SHORTING, AND FLASH TRADING - By James Quinn

SEC received G0LDMAN response to questionable practices, claiming they benefit investors by adding Liquidity! Yes G0LDMAN is making a K1LLING and they are the ONLY Investors Benefiting!

GOLDMAN’S nearly quadrupled third-quarter profits to $3.19Billion using HIGH TECH trading schemes.

SEC Chair Schapiro spoke out against dark pools+flash trading: "Both of these undermine the integrity of the market by providing valuable pricing information to select market participants (G0LDMAN)- information that is not widely available to the public."

G0LDMAN Attempts to REFUTE FACTS about Their 'Dark Pools'

1. Hidden off-exchange trading accessible only to the EL1TES OF WALL STREET (G0LDMAN)
2. Wholesalers and Exchange Routing Products supposedly available to everyone - NOT!
3. G0LDMAN operates Sigma X Dark Pool also in Hong Kong but claims NO use of Electronic trading messages to a small number of traders (G0LDMAN).
http://www.britannica.com/bps/additionalcontent/18/39659076/Goldman-Sachs-brings-Sigma-X-dark-pool-to-Hong-Kong

[PhilipTaylor]

4. G0LDMAN said it supports greater (NOT FULL) transparency to these off-exchange pools. SEC's commissioners voted unanimously to make dark pools Transparent after Senator Schumer and others insisted!
5. G0LDMAN wants "small changes and clarifications" TWEAKS NOT REFORM
6. G0LDMAN use of SHORTING has RUINED many TRADERS and Companies and G0LDMAN is UNWILLING to accept added LIMITS on already ILLEGAL 'naked' short selling!
7. G0LDMAN says their advanced flash trading which GIVES THEIR TRADERS an LOOK AHEAD on Transactions and therefore nanosecond leads on AUTOMATED TRADES is GOOD for liquidity and market Making! It is GREAT FOR G0LDMAN’S PhD Rigged Automated THEFT!

I short G0LDMAN’S PAUL RUSSO, head of G0LDMAN’S Equity Trading. is arguing for G0LDMAN’S CONTINUED SECRET AUTOMATED THEFT FROM AMERICA and the WORLD!

IT IS TIME TO CRACK DOWN ON G0LDMAN AND ITS RIGGED THEFT!

[Carolab]

Note that dark OTC derivatives total has increased by over $200 Trillion in just 2 1/2 years! Unlike publicly visible and clearingho­use-guaran­teed clearingho­use-guaran­teed exchange traded derivatives, OTC derivatives are generally not publicly revealed except in the aggregate. See the BIS report http://www.bis.org -- follow the path Statistics­/Derivativ­es/Table 19

[PhilipTaylor]

G0LDMAN DEFENDS SECRET HIGH-TECH TRADING PRACTICES: DARK P00LS, SHORTING, AND FLASH TRADING - By James Quinn

NOW EVEN MORE DANGER and MORE ILLEGAL at NANOSECOND SPEEDS!

Rising from the ashes is another CLONE of the SCAMS the Wall Street Banksters/Hedge Fundsters have pulled for Years except except except a TRILLION TIMES FASTER!

NOW IT IS AUTOMATED and THEFT OCCURS IN NANOSECONDS -

Ask G0LDMAN about their PhD developed THEFT SOFTWARE:

1. Automatic Nanosecond Intercepts other trades and insert G0LDMAN Trade ahead to get Bounce!

2. Automatic Market Manipulation - 01L, Commodities, Stock, Derivative, Options, you name it!

SCAM 1:
http://latimesblogs.latimes.com/money_co/2009/07/matthew-goldstein-at-reuters-has-broken-a-story-about-a-potential-major-security-breach-involving-goldman-sachs-vaunted-tradi.html

SCAM 2:
http://www.bloomberg.com/apps/news?pid=20601087&sid=am7Ds.JhNxvw

G0LDMAN and others are feeding off those Data Centers over in Jersey...and making a mint.
__________________

SEC received G0LDMAN response to questionable practices, claiming they benefit investors by adding Liquidity! Yes G0LDMAN is making a K1LLING!

GOLDMAN’S near quadrupling of third-quarter profit to $3.19bn using HIGH TECH trading schemes.

SEC Chair Schapiro spoke out against dark pools+flash trading: "Both of these undermine the integrity of the market by providing valuable pricing information to select market participants - information that is not widely available to the public."

[Carolab]

…More than 85 percent of the $308.9 billion in new tax- exempt bond issues this year were sold without competitive bidding, according to data compiled by Bloomberg. Such negotiated issues, for which borrowing costs are set privately, show how public officials do financing in the dark in the $2.8 trillion municipal bond market.

http://emsnews.wordpress.com/2009/10/28/us-bond-sale-rip-offs-continue-unabated/

[Carolab]

In Swaps We Trust Leads Governments to Losses With No-Bid Deals

http://www.bloomberg.com/apps/news?pid=20601109&sid=aLac7yoZtq4E

[PhilipTaylor]

I think this is AWFUL but I am missing the connection!

[shivasquest]

Good god why are they still legal?

[gretchenart]

kinda like how fast food is so good for you?

[msjimmied]

http://trueslant.com/matttaibbi/2009/10/27/goldman-lobbies-senate-says-full-transparency-sucks/

[Xultrasoundsleephypnosis]

In June Goldman had purchased cds for CIT(1 billion dollars). Will some body explain who gave Goldman this billion dollar cds for CIT. I am not interested in what happened prior to June. I am only interested in the parties who gave the billion dollar cds and how they came to conclude CIT was credit worthy. the below could be a possibility but how do I find out all the details behind this transaction.
Standard & Poor's, Moody's and Fitch (bond raters) ->AIG->Goldman
Also I know
Goldman-> hank paulson->AIG
Can anyone direct me to websites that has this in detail.
Thank you

[mattyd123]

You may be able to find out on this site.

http://www.zerohedge.com/taxonomy_vtn/term/9261

[MissVirginiaVoter]

The nerve of these crooks......they must have the biggest b*lls ever to exist.