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Fraud*
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Friday, April 17, 2009

Former Goldman Sachs Exec Running the New York Stock Exchange

For the past few days Duncan L. Niederauer, who know runs the NYSE, has been telling the world that the recent rally was not driven by actual fundamentals but rather by trading. This is a wild statement coming from a former Managing Director of Goldman Sachs.

The number show that Goldman Sachs did more program trading during this artificial rally than the next 14 largest program trading companies in the world . . . COMBINED. Moreover, Goldman Sachs did it in their own Principal account.

So if the SEC and the NYSE want to get to the bottom of things like this, I suggest they open an investigation. But that would never happen with a Goldman Sachs man at the helm of the NYSE and Goldman Sachs team members in Washington . . . and beyond.

6 COMMENTS:

SRSrocco said...

I remember seeing a GOOD ARTICLE on the Goldman Sachs numbers in their trading compared to the other institutions. Do you have a link to that article or where I coud see those numbers?

RICO! said...

Yes, somebody had better get off their arse and start investigating.

All of these Goldman Sachs people need to be thrown in jail where they belong.

Did you catch the recent Bloomberg piece about Liddy's stake in Goldman?

http://baselinescenario.com/2009/04/17/the-department-of-justice-is-on-line-two/#more-3345

How is nobody alarmed that Paulson--of Goldman--appointed Liddy--formerly of Goldman--to head up AIG where he funneled billions more to Goldman, of which he is a substantial shareholder?!!!!!!!!!!

Conflict of interest much?

Aside from that, some believe that Goldman is responsible for Lehman's collapse:

http://maxkeiser.com/2009/04/17/max-keiser-blog-lehman-got-whacked/

Meanwhile, these Goldman CROOKS keep being brought into the Obama administration. Read up on Geithner's Goldman boy--Patterson--and how he fought against a bill that then-Senator Obama was trying to pass re: CEO pay reform:

http://www.motherjones.com/politics/2009/03/geithner-aide-fought-ceo-pay-reform

Somebody needs to clean house!

Anonymous said...

Zero Hedge is all over it

http://zerohedge.blogspot.com/2009/04/goldman-sachs-principal-transactions.html

Anonymous said...

GS was Obama's main contributor. Any wonder he gave our financial business over to the control of the world bankers at the G20?

Jr Accountant said...

The fast and the furious hard at work I see.....

Anonymous said...

GM will become profitable under new accounting rules

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