I think this is a very important story and if you follow Goldman Sachs and who has come from Goldman and what positions they hold then you will understand how big of a story this is. First is a link to a Bloomberg article here.
Second it is important to note that Goldman accounts for almost 50% of the trading that is done on the NYSE. 50% people – that is crazy.
Third – they have a trading program and one of their employees is under arrest right now for stealing the program. Goldman alleges: "The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways."
Hence: If the report quotes the assistant U.S. attorney correctly, and if he was characterizing Goldman Sachs' position correctly, then Goldman Sachs claims to have possession of a computer trading program that can manipulate markets. The assistant U.S. attorney's comment can be construed to suggest Goldman Sachs considers its own manipulation of markets to be fair, while such manipulation by others would be unfair.
Just a little thought for the day -
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