Comments (10)

Jul 24, 2009

Jesus, these fuckers need to step up their PR game. I don't know what kind of assholes Lloyd's got working over there, but I have a feeling Ari's Lloyd would do a better job managing their public image.

"the code could be used to manipulate markets if in the wrong hands"

Seriously, are you that fucking clueless as to whats going on around you to make those kinds of statements?

Between the massive amount of negative publicity wall street is getting, the RollingStones article and now this, they need to start donating kidneys to one legged starving African kids with leukemia or something.

Jul 24, 2009

This is turning out to be a real clusterfuck, this is the equivalent of Joe Pesci fucking Robert DeNiro's wife in Casino. If this was the Mafia, Goldman would have been put down already for making so many waves.

http://www.nytimes.com/2009/07/24/business/24tradi...

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

This is so fucking stupid, this douche bag writer is pandering right into the layman's ignorance and distrust of anything he doesn't understand. As if a computer being in the same building as another computer, somewhat compromises the integrity of the system.

It is an interesting article though and does have some valid points.

Jul 24, 2009
Marcus_Halberstram:

This is turning out to be a real clusterfuck, this is the equivalent of Joe Pesci fucking Robert DeNiro's wife in Casino. If this was the Mafia, Goldman would have been put down already for making so many waves.

http://www.nytimes.com/2009/07/24/business/24tradi...

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

This is so fucking stupid, this douche bag writer is pandering right into the layman's ignorance and distrust of anything he doesn't understand. As if a computer being in the same building as another computer, somewhat compromises the integrity of the system.

It is an interesting article though and does have some valid points.

I agree that sentence can be misconstrued. But the rest of the article is spot on, can anyone here really argue with anything stated here?

The slower traders began issuing buy orders. But rather than being shown to all potential sellers at the same time, some of those orders were most likely routed to a collection of high-frequency traders for just 30 milliseconds -- 0.03 seconds -- in what are known as flash orders. While markets are supposed to ensure transparency by showing orders to everyone simultaneously, a loophole in regulations allows marketplaces like Nasdaq to show traders some orders ahead of everyone else in exchange for a fee.

how is that transparent? liquidity is great, they should get paid the small fees for that but why do "flash orders" exist?

Jul 24, 2009
excelsior:

liquidity is great, they should get paid the small fees for that but why do "flash orders" exist?

This is just a guess.

Because Goldman lobbied for them???

The WSO Guide to Understanding TARP

Jul 24, 2009

Goldman just can't stay out of the news right now, and the incredible thing is that it seems like they don't give a fuck, either. I really got a laugh out of the video and thought it would be a funny Friday post, but you're right Marcus, they either A) need to get their shit together PR-wise and present a better public image, or B) don't give a fuck because it's all true and they know they're untouchable.

With the amount of money at their disposal to manage their public image (and their blatant failure to do so), my money's on "B".

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Jul 26, 2009

http://news.yahoo.com/s/ap/20090725/ap_on_bi_ge/us...
"Sen. Charles Schumer, D-N.Y., has asked federal securities regulators to crack down on a high-speed computing advantage that large financial firms have over other investors.

If the Securities and Exchange Commission does not curb a practice that Schumer says gives certain professional investors an unfair advantage, he told the agency in a letter that he will try to do so legislatively."

Jul 26, 2009

zerohedge.com

Jul 26, 2009
MMmonkey:

zerohedge.com

Proceed with caution if you're going to visit that site. The world is ending everyday over there.

Jul 28, 2009

http://seekingalpha.com/article/151430-high-freque...trading-we-fear-what-we-do-not-understand

Aug 26, 2009
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