Goldman Sux trading against its own clients - again.

Discussion in 'Wall St. News' started by W4rl0ck, Nov 18, 2008.

  1. W4rl0ck


    Can't make this stuff up.

    Nov. 17 (Bloomberg) -- Investors in the $591 billion high- yield, high-risk loan market are accusing Goldman Sachs Group Inc. of naked short selling to profit from record price declines.

    At least two fund managers complained verbally to officials of the Loan Syndications and Trading Association, saying they believe Goldman helped drive down prices by using the technique, according to people with knowledge of the objections. New York- based Goldman is acting against its clients by trying to profit at their expense, the investors said...
  2. Why are these guys complaining? GS is just providing them with liquidity :cool:
  3. asap


    <b>golden sacks</b> trading against their clients? how is that possible? they are an ethical role model for all of us in this business. :D
  4. Time for "cleaning house" on Wall Street....

    Time for a new worldwide direct access securities exchange.....

    Way too many conflicts of interest.......
  5. The ultimate confirmation of that will be when GS starts to give sell-recommendations on each of the components of BRKA and......itself. :cool:
  6. The Dark Side of the Looking Glass: the Corruption of Our Financial Markets

    Interesting and detailed presentation on naked short selling.

    Presenter is the CEO of
    Dr. Patrick Byrne

    Any comments/opinions as to whether or not this may be accurate?

  7. PortI385


    GS is fine. Time to load up on GS, it has bottomed at $62 today. Going higher to $90 at least. Imho, Paulson will help Goldman Sachs, no worries.

    Warren Buffett likes it, Jim Cramer likes it, what else do you need? Time to buy GS is now before it skyrockets higher.

  8. I wouldn't be surprised if they go down some day. Hubris. But maybe we will find out that they aren't smarter than the rest and their edge was mostly the type of activity some are complaining about.
  9. eagle


    I'm waiting the confirmation from stock_trad3r. Now we have only 2/3, needed 3/3.