Oh there goes this yr's bonus Goldman! Nutin more that fast paced Front-Running... morons.

Started by w67thstreet

about 17 years ago

Posts: 9003

Member since: Dec 2008

Discussion about

http://dealbook.blogs.nytimes.com/2009/08/04/sec-to-seek-flash-trading-ban-schumer-says/?hp "The head of the Securities and Exchange Commission will seek to stop a trading technique that enables some large banks and hedge funds to peek at investors’ stock orders before they are sent to the broader marketplace, Senator Charles E. Schumer said on Tuesday." Thats' literally where almost all the "trading" gains in the last few quarters came... let's see them get stuck upside down like most traders on any given day....

Response by bjw2103

about 17 years ago

Posts: 6236

Member since: Jul 2007

I'm afraid it's probably a case of too-little, too-late. I think Goldman almost surely realizes internally that these massive recent gains were essentially a one-time deal, and that others would eventually catch up and dilute the profit-taking from this flash-trading business. Could be wrong, but that's my inclination here. But this still has to be done, so kudos to the SEC on this (even if it should have been pushed through a long time ago).

Oh there goes this yr's bonus Goldman! Nutin more that fast paced Front-Running... morons.

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