It isn't amusing that a bank can pay its way out of various troubles into enormous riches but what with so many little distractions like this one, Goldman Sachs's temper must be wearing pretty thin. But the phrase "disorderly trading" is fetching and matches my ideas about Goldman Sachs's risk taking. Like the phrase "disorderly conduct" it has a nice ring to it!
Goldman Sachs Fined by ICE Exchange for 'Disorderly' Trading
By Lananh Nguyen - Bloomberg
Goldman Sachs Group Inc. (GS) was fined 25,000 pounds ($40,000) by the ICE Futures Europe exchange for “disorderly” oil trading, the London-based exchange said.An ICE committee that investigated the trades “found no evidence of intentional manipulation of the market; nevertheless it considered the breach to be of a serious nature,” ICE said in a circular on its website dated June 17.
Kelly Loeffler, Atlanta-based spokeswoman for IntercontinentalExchange Inc. (ICE), which owns ICE Futures Europe, said the company doesn’t comment on investigations. Joanna Carss, a London-based spokeswoman for Goldman Sachs, said she couldn’t comment on the matter immediately.
The penalty relates to “price spikes” on the April 2011 Brent-WTI crude spread that occurred on Jan. 28 from 2:26 p.m. U.K. time to 2:31 p.m., according to the circular. The moves were found to be the result of several large market orders placed in quick succession by a Goldman trader, ICE said.
The ICE committee “considered the behavior of Goldman Sachs and its client to be a clear case of disorderly trading, in that the distorting price impact of the placement of such large orders in close proximity was not considered.”
You can read the article here
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Dizzying New Heights of Global Criminal Enterprise
That the United States government, the U.S Federal Reserve, and a plethora of financial institutions, are in breach of numerous U.S. laws in regards to fraud and fiduciary duty to the American people, is held to be self-evident, by a growing minority of individuals around the world. That this breach of law and duty has resulted in the deterioration of the global marketplace, diminished opportunities for workers, and effected an acute decay in living standards for millions around the world, is without doubt.
Since the founding of the houses of Rothschild and Morgan in the 18th and 19th centuries respectively, banks and bankers have progressively adopted the role of financiers to governments, who find themselves placed in a position of obligation to their financiers. Laws and regulations are thus influenced more by the interests of bankers than by the public interest. This is the essential conflict that undermines the possibility of real democracy in our world. Its not a case of who can get the most votes – it’s a case of who’s got the most money.
The operational platform of this global criminal enterprise is the futures, derivatives, and debt markets. Far from market efficiency mechanisms, they are the means by which the entrenched financial dynasties hobble government and siphon off the earnings of everyone around the world in regularly engineered financial expansions and contractions. It is the means by which astronomic virtual profits are generated, and the reason why banks no longer invest in businesses. Why invest in a business when you can invest in your own fabricated market, where you control supply, demand and price?
It’s a fine tuned fraud on an international scale. And it can’t be identified or detected, because the mechanisms for recognition and enforcement of regulations are under the control of the banking dynasties.
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