Goldman Sachs Admits Its Software Can “Manipulate Markets in Unfair Ways”

Goldman Sachs says that its program trading software can be used to manipulate markets:

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.

(and see this).

Given that Goldman obviously knows how to use its own program – which it paid many millions for – isn’t that a virtual admission that Goldman has been manipulating markets?

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  • http://Anonymousnoreply@blogger.com Anonymous

    I heard of a guy a few years ago that went on record about a software that could manipulate and HIDE traces of market manipulation. he is out of job now and dirt poor- he was fairly rich and succesfull business manager untill he found this software to be doing something illegal and reported it to his boss.. it's a long story, a MP3 audio file, maybe someone know what i am thinking of?

  • http://www.blogger.com/profile/11940394016528488881 Charles

    Read somewhere that GS controls about 40% of all NYSE trades. Maybe it's time to restore Glass-Steagall.

  • http://www.blogger.com/profile/11940394016528488881 Charles

    Read somewhere that GS controls about 40% of all NYSE trades. Maybe it's time to restore Glass-Steagall.

  • http://www.blogger.com/profile/14267341272145443931 Tree

    Huh. I thought only fear and greed could manipulate the markets.

 

 

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