Posted on 10/27/2009 9:01:57 AM PDT by TigerLikesRooster
Goldman Sachs Defends Dark Pools, Short Selling
By JOAN E. SOLSMAN
Goldman Sachs Group Inc. defended a range of trading practices currently under regulatory scrutiny, including dark pools and short selling, in a report to the Securities and Exchange Commission and a series of posting on its Web site.
In defending dark pools, private venues where large blocks of securities are traded anonymously, Goldman said they are simply the result of technology improving on the kind of non-displayed liquidity that has always existed in the market. The firm, which has reaped huge trading profits in the last two quarters, said that dark pools are already regulated by the same rules as normal broker-dealer activities and that dark pools have increased innovation and competition, which in turn have benefited investors, particularly retail investors, by lowering costs.
Still, Goldman did support regulation to enhance post-trade reporting transparency. In recent months, the firm has stepped up its efforts in this area, including a recent agreement with NYSE Euronext as well as changing the reporting practices of its own Sigma X dark pool
(Excerpt) Read more at online.wsj.com ...
Ping!
Can’t read the entire article, but they are a big part of the problem.
Related
http://market-ticker.org/archives/1545-Goldmans-Dissembling-Dark-Pools-.et.al..html
http://market-ticker.org/archives/1547-More-Arrogation-Of-Power.html
With ties to the Democrat Party criminal organization and enablers.
and that, my FRiend is exactly what the goobermint, Wall Street, the Treasury Sec. the Fed Chairman, and our own Congress are fighting to protect.
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