Page 1 of 2 12 LastLast
Results 1 to 15 of 22

Thread: The Ongoing Lie about "Free Markets"

  1. #1
    Join Date
    Jan 2005
    Location
    Left Coast
    Posts
    7,822

    The Ongoing Lie about "Free Markets"

    A class case of enormous market manipulation to the sole good of Goldman Sachs:
    SEC to review ‘flash’ orders
    By Michael Mackenzie, Joanna Chung and Aline van Duyn in New York
    Published: July 26 2009 20:30 | Last updated: July 28 2009 00:12
    The Securities and Exchange Commission on Monday said it was examining “flash” orders – trades made at lightning speeds on electronic systems – after calls by a US senator to ban the practice.

    Officials are currently conducting a review that includes looking into flash orders by exchanges and automatic trading systems that disseminate information to select market participants, ‘’potentially disadvantaging investors,’’ said a SEC spokesman. ...
    Financial Times
    July 24, 2009
    Stock Traders Find Speed Pays, in Milliseconds
    By CHARLES DUHIGG
    It is the hot new thing on Wall Street, a way for a handful of traders to master the stock market, peek at investors’ orders and, critics say, even subtly manipulate share prices.

    It is called high-frequency trading — and it is suddenly one of the most talked-about and mysterious forces in the markets.

    Powerful computers, some housed right next to the machines that drive marketplaces like the New York Stock Exchange, enable high-frequency traders to transmit millions of orders at lightning speed and, their detractors contend, reap billions at everyone else’s expense.

    These systems are so fast they can outsmart or outrun other investors, humans and computers alike. And after growing in the shadows for years, they are generating lots of talk.

    Nearly everyone on Wall Street is wondering how hedge funds and large banks like Goldman Sachs are making so much money so soon after the financial system nearly collapsed. High-frequency trading is one answer.

    And when a former Goldman Sachs programmer was accused this month of stealing secret computer codes — software that a federal prosecutor said could “manipulate markets in unfair ways” — it only added to the mystery. Goldman acknowledges that it profits from high-frequency trading, but disputes that it has an unfair advantage.

    Yet high-frequency specialists clearly have an edge over typical traders, let alone ordinary investors. The Securities and Exchange Commission says it is examining certain aspects of the strategy. ...
    http://www.nytimes.com/2009/07/24/bu...24trading.html
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

  2. #2
    Join Date
    Jan 2005
    Location
    Left Coast
    Posts
    7,822
    Gaming the so-called "free market," a game only the very big boys can play.
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

  3. #3
    Join Date
    Apr 2008
    Location
    In the nightmares of right wingers.
    Posts
    2,290
    Quote Originally Posted by simone View Post
    Gaming the so-called "free market," a game only the very big boys can play.
    The only thing that is free about this is that the Bush deregulation frenzy left the fat cats FREE to prey on the rest of us.

    Creeping Gekkoism must have a stake thrust though its evil heart.

  4. #4
    Join Date
    Feb 2004
    Location
    Sydney, Oz
    Posts
    3,253
    It's hard to tell if you are really this ignorant or whether you're simply hoping your readers are. I'd like to explain some aspects of the story to you, but I know it would only result in you abandoning the thread until the next time you found something equally moronic in the huffington post to cut and paste.

    They provide just enough information that you have a weekly "talking piece", and just little enough that you never actually learn anything.
    Last edited by Symbiote; 07-28-2009 at 09:48 PM.
    He or she who supports a State organized in a military way – whether directly or indirectly – participates in sin. Each man takes part in the sin by contributing to the maintenance of the State by paying taxes.

    ~ Gandhi

  5. #5
    Join Date
    Jan 2005
    Location
    Left Coast
    Posts
    7,822
    And, from the vast reserves of your enormous intellect ... Symbiote ... what have you to offer us inferior beings?
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

  6. #6
    Join Date
    Mar 2005
    Posts
    11,660
    Quote Originally Posted by simone View Post
    And, from the vast reserves of your enormous intellect ... Symbiote ... what have you to offer us inferior beings?
    He has offered us the most insightful post regarding your posting style that I've read. When it comes to economic items Symbiote and Daewoo seem to have a good idea whats going on...

  7. #7
    Join Date
    Feb 2008
    Location
    Stratosphere baby Stratosphere!
    Posts
    2,047
    Wait... maybe I heard wrong but isn't Goldman Sachs rather well represented in the Obama Admin????
    -Computer $1500.00
    -Monthly internet connection $35.00
    -Monthly electricity bill $245.00
    -Convincing a Socialist that incentive is the mother of motivation,

    Priceless!

  8. #8
    Join Date
    Mar 2005
    Posts
    11,660
    Don't let the facts cloud your judgment.

  9. #9
    Join Date
    Jan 2005
    Location
    Left Coast
    Posts
    7,822
    Quote Originally Posted by CUNxTime View Post
    Wait... maybe I heard wrong but isn't Goldman Sachs rather well represented in the Obama Admin????
    Yes, sadly, it is. A most grievous error by Obama.
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

  10. #10
    Join Date
    Feb 2008
    Location
    Stratosphere baby Stratosphere!
    Posts
    2,047
    Quote Originally Posted by simone View Post
    Yes, sadly, it is. A most grievous error by Obama.
    So then why would you trust these guys to 'fix' the problems?
    -Computer $1500.00
    -Monthly internet connection $35.00
    -Monthly electricity bill $245.00
    -Convincing a Socialist that incentive is the mother of motivation,

    Priceless!

  11. #11
    Join Date
    Jun 2006
    Posts
    550
    Quote Originally Posted by simone View Post
    Yes, sadly, it is. A most grievous error by Obama.
    It's not an error if it's intentional.

    Bush hooked up his oil buddies, Obama hooked up his banking and mortgage buddies. Politics as usual.

  12. #12
    Join Date
    Jan 2005
    Location
    Left Coast
    Posts
    7,822
    I think that Obama is getting the word that a lot of concerned Americans aren't happy that his administration is well-larded with Goldman Sachs people.

    Also, a lot of people are closely watching the conduct of Goldman Sachs and reporting Goldman Sachs' felonies.
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

  13. #13
    Join Date
    Apr 2008
    Location
    In the nightmares of right wingers.
    Posts
    2,290

    Smile Live simply in order that others may simply live.

    Why is there any question about this fattest of the fat cats NOT having his bonus cut SUBSTANTIALLY?

    http://www.nytimes.com/2009/08/02/bu...2bonus.html?hp

  14. #14
    Join Date
    Feb 2008
    Location
    Stratosphere baby Stratosphere!
    Posts
    2,047
    Quote Originally Posted by chester View Post
    Why is there any question about this fattest of the fat cats NOT having his bonus cut SUBSTANTIALLY?

    http://www.nytimes.com/2009/08/02/bu...2bonus.html?hp
    He's made them over $2 BILLION. Why shouldn't he get paid the % that his contract states?
    -Computer $1500.00
    -Monthly internet connection $35.00
    -Monthly electricity bill $245.00
    -Convincing a Socialist that incentive is the mother of motivation,

    Priceless!

  15. #15
    Join Date
    Apr 2008
    Location
    In the nightmares of right wingers.
    Posts
    2,290
    Quote Originally Posted by CUNxTime View Post
    He's made them over $2 BILLION. Why shouldn't he get paid the % that his contract states?
    Ever hear of taking one for the team?

    Come to think of it, I don't think you have.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •