GSSE – Goldman Sachs Stock Exchange

Goldman Sachs exerts a huge amount of influence over what and how much gets traded on the New York Stock Exchange. Some days their share of the trading reaches 50%—though until recently automated program trading that broke a $1M barrier was disclosed in a pubic report issued by the NYSE on Thursday afternoons.

Well no more. Now it seems that the NYSE is going to become even more a Goldman Sachs’ puppet after new rules were issued that do away with the transparency requirement. Now the large investment banks, especially Goldman, will have the unfettered ability to manipulate the market with no public accountability.

I suppose we could expect Obama’s Treasury Department, with all of its yammering about new, more restrictive rules on investment banking, to step in and restore those rules. But with a never ending succession of ex-Goldman bankers occupying key positions in both the current and former administrations—bankers whose sole purpose seems to be to keep the money flowing into their former employer—I wouldn’t count on it.

4 thoughts on “GSSE – Goldman Sachs Stock Exchange”

  1. I haven’t seen any restrictive rules in place, I’ve seen the door opening even more wider so that other banks can get in on the action too ,its easy money for their taking………

  2. Lew… Goldman Sachs is the worst of a bad bunch. Lehman Bros. was one of their more potent competitors, and look at what that f*ck Paulson did to them.

    Napman… No joke. We’re definitely in a “Meet the new boss…” situation.

  3. I think the next time I fuck up, I’m going to tell the officer I work for Goldman Sachs. Which, given that taxpayer dollars bailed their ass out, is a true statement.

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