Goldman counterparties

Reader comment on: Wait for the Faces of 'Victims'

Submitted by J.Johnson (United States), Apr 19, 2010 13:38

I don't know if what Goldman did with the CDOs was illegal or not. Obviously the SEC thinks it was illegal, while the Justice Department apparently won't, yet, commit to a position. The real scandal in the securities and commodities markets are the activities that are still considered legal, such as: dark pools, HFT (high freq. trading with co-located servers), "sub-penny" bid/ask prices on stocks and "overseas" commodity trading marketplaces (such as ICE) which aren't really overseas, to name just four. Goldman Sachs is in into all of these and more, none of which have any purpose other than distorting pricing mechanisms to the advantage of.....guess who?......Goldman Sachs and its siblings. Goldman's manipulation of the crude oil market two years ago should have been more than sufficient reason to haul them into court had the CFTC not been thoroughly corrupt. But, as the saying goes....'any port in a storm.' If this CDO deal is what it takes to bring Goldman down, then so be it.

Note: Comments are moderated by the editor and are subject to editing.

Other reader comments on this item

Comment on this item