For many years I have expressed my outrage at how GS does the bidding of the FED through its market manipulations. I guess somebody has to do the FED’s dirty work for them. However, it’s quite disgusting that they front run the FED’s orders so as profit themselves. It’s like investing today using tomorrow’s newspaper. This is why they continue with incredible bonus. The average GS wage is now over $700,000.
This past week, GS reported that their proprietary software used in manipulating markets was stolen by a former employee. Assistant U.S. Attorney Joseph Facciponti told a federal magistrate judge at his July 4 bail hearing in New York that “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.”
I can’t stress the amount of damage this firm has done to our economy for decades. They have former employees and executives in the highest places within our government. They are totally immune from any investigation or repercussions. “The Video of the Week” below features former Assistant Secretary of Treasury be interviewed. At the end of the video he is asked by the interviewer who Timothy Geithner really works for. You might be surprised at his
In addition, last week The New York Stock Exchange quietly announced that it would end its practice of requiring companies to report all their program trading — a move that helps shield large investment banks, particularly Goldman Sachs, from public scrutiny. The new rule means the public will no longer be able to tell if large investment banks are manipulating the stock market for their own gain.
Also, there is a MUST READ link below exposing how GS creates bubbles by manipulating markets for their own profit.