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So now Goldman can create artificial risk with its software and further manipulate the market to its will? I think this "gift" fits under the definition of a Tr
by gavanwoolery 10y ago
So now Goldman can create artificial risk with its software and further manipulate the market to its will? I think this "gift" fits under the definition of a Trojan horse. Conspiracy maybe, but think about how easy it would be for GS to make a trade based on the numbers its software spits out, before those numbers are public. The SEC has let far bigger things "slip" in the past.
- wintermute42 10y agoYou have no idea what you are talking about. How exactly does GS manipulate the markets to its will? You'd think their balance sheet would look better if that was case..
- cmdrfred 10y ago>How exactly does GS manipulate the markets to its will? They rig the ratings agencies and libor[0]. [0]http://www.bloomberg.com/news/articles/2012-07-18/goldman-sachs-s-blankfein-says-libor-scandal-undermines-trust http://www.bloomberg.com/news/articles/2012-07-18/goldman-sa...
- smallnamespace 10y agoYour article doesn't support your point; it's Goldman's CEO complaining about other people manipulating LIBOR. https://www.theice.com/iba/libor https://www.theice.com/iba/libor Goldman Sachs did not manipulate LIBOR because it's not even one of the banks that is asked for LIBOR submissions (they were an investment bank, not a commercial bank). I'm all for bashing banks when it's appropriate, but it's our obligation to get the facts straight first.
- gavanwoolery 10y agoAt minimum, GS has done this in the past via political back-patting. Any other means would not surprise me, although to be honest I could care less if I am right/wrong about this particular case. :) https://newrepublic.com/article/132628/goldman-sachs-settlement-5-billion-sham https://newrepublic.com/article/132628/goldman-sachs-settlem...
- smallnamespace 10y agoWhere does that article mention any political back-patting?