An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Thursday, January 17, 2013
John Carney — What Is Goldman Sachs?
John tells us what we already know or at least suspect, there it is in print.
"A pig by any other name would smell as bad." Apologies to Shakespeare. Goldman doesn't pass the mommy test.
This kind of anticipatory trading is not fairly described as front-running because Goldman isn't stepping ahead of customers who have already requested positions. It's stepping ahead of them before they request these positions.
If Goldman is also the one guiding the customer on which positions to take, it seems worse than front running. Like directly manipulating the customer to dance to your tune. Almost as though they're not customers so much as... muppets. Or something.
This kind of anticipatory trading is not fairly described as front-running because Goldman isn't stepping ahead of customers who have already requested positions. It's stepping ahead of them before they request these positions.
ReplyDeleteIf Goldman is also the one guiding the customer on which positions to take, it seems worse than front running. Like directly manipulating the customer to dance to your tune. Almost as though they're not customers so much as... muppets. Or something.
Doing God's work after all geerussell
ReplyDelete