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Posted on 07/08/2009 1:16:21 PM PDT by hripka
Something really ugly popped up on Daily Kos yesterday late in the afternoon.....
...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, thus allowing them to essentially steal buttloads of money every day from the rest of the punters world.
Two things come out of this:
1. If true, this should be highly illegal, and would, in any sane country result in something like what happened to Arthur Andersen...
(2. ... is way off point....)
God help Goldman if this is true and the government goes after them. This would constitute massive unlawful activity. Indeed, the allegation is that Goldman alone was given this access!
God help our capital markets if this is true and is ignored by our government and regulatory agencies, or generates nothing more than a "handslap." Nobody in their right mind would ever trade on our markets again if this occurred and does not result in severe criminal and civil penalties.
(Excerpt) Read more at market-ticker.denninger.net ...
Remember that now, the law only gets applied when it somehow benefits the policies and agenda of the present administration.
This probably started before January 20, 2009.
This probably started before January 20, 2009.
::::
If it is true, it probably did. But that does not change how it will be handled NOW.
Ah .. then it's Bush's fault.
or was handled then!
both are complicit?
Robert Rubin, Clinton’s Sec. of Treasury headed GS .
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