If yer not cheatin', then yer not tryin' (לא הוגן, לא מנסה)
Goldman told McSwain of the FBI that its Program Trading software can be used to manipulate international stock exchanges. Industry response is at red-light-and-siren levels:
-- U.S. Commodity Futures Trading Commission
-- U.S. Securities and Exchange Commission
Request from GATA:
I'm enclosing a copy of a report distributed July 6 by Bloomberg News Service about the U.S. government's prosecution of a former employee of Goldman Sachs Group Inc. involving the purported theft of a... computer trading program. The report quotes Assistant U.S. Attorney Joseph Faccipointi... : "(Goldman) 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." ...
Court proceeding described... would seem to impugn all markets in which Goldman Sachs trades. On behalf of (GATA) I ask your commission to investigate Goldman Sachs' trading program urgently and report its findings publicly.
GS built this program to do what, exactly ? MBTF :::
From a comment by Shaza at ZeroHedge:
" Terror is only justice: prompt, severe and inflexible; it is then an emanation of virtue; it is less a distinct principle than a natural consequence of the general principle of democracy, applied to the most pressing wants of the country."
Maximilien Robespierre
New York's 100,000 recently jobless financial industry workers can be seen, massing with axes and pitchforks, at West Street and Vesey. Not. Yet.
Jerry Rubin, one of the Chicago Seven 1968:
"The power to define the situation is the ultimate power."
======================================
Gold Anti-Trust Action Committee. Been around for years. Watchdog.
The link:
HERE for the call for investigationarticle at Zero Hedge.
And a DKOS today:
HERE for DKOS from bobswern titled: "DKos Diary Reverberates Throughout Wall St. (w/update.)"
Comments at Zero Hedge and DKOS reflect the apparently visceral response of professionals and the general public, alike.