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* Manipulate long: we'll protect you, assist you, lend to you;
* Manipulate short: we'll arrest you; stop you; exclude you.
It all looks good...for a while...then the next time there's a fall, there are no nervous shorts left to cover and pull up the fall: there are only the slaughtered longs, desperate for any escape.
Don't get caught long on the next fall.
My guess is that those who got thier dating and fashion advice from Sex and The City will continue to get their investment advice from Cramer.
Btw I think I finally did it. I pissed off some NY Times liberals.
The irony is that I was a Poli Sci major and leaned very far left .......15 years ago.
Winston Churchill
i se there are some other interpretations on it but noice nonetheless.
http://answers.google.com/answers/threadview?id...
i'm 34
Of course, right-wing ideologues are so much prisoners of their own thinking that they think that the current economic failure "the market just wasn't free enough." Obama is failing because his policies (aligned with the privatized Fed) are too far to the right: money to banks with few, if any, strings attached and continuing "free trade" that generates enormous deficits. Google "Jobs & 'Trade' Data Update Apr09" to see what "free trade" anti-stimulus has done to the economy.
TY
Blah, blah, blah...we are secretive b*stards who will disclose nothing substantial about "so called dark pools", so suck on it and continue to speculate.
Sincerely,
Goldman, Sachs.
I'd rather have it separate as they have different time stamps. One tape for the open market and other for the back alley trades. That's my suggestion.
And btw...will Joe 6 Pack ever pick up on the billions of FDIC guaranteed bonds that are helping the Golden Scrotes take home giant bonuses via cheap securities with the tax payer (USA) as the guarantor?
The tax payer takes the risk and Golden Scrote Bag gets the upside and can bid on that Tribecca loft they have been eyeing...
Wake up Joe 6, you are getting duped.
As long as joe and jane 6 can watch dancing/singing with the biggest loser, and eat massive quantities of fast food, they will never notice how far bent over GS has them.
Realize that J6P will behave in all the ways you expect ... until ... hes unemployed, there is absolutely no job market, he/she is living on borrowed time, and begins to cut expenses to the bone to survive. Lucky folks have family to fall back on, future homeless do not. The *second to last* luxury expense to go is internet service, as its the cheapest medium for endless entertainment. It is also historically equivalent to the printing press. Tyler doesnt need a publishing house (McGraw-Hill) to reach you (the audience), the internet made him a micro publisher (in the old sense of the concept). At impressively little cost. Do not discount or overlook this quality. The *last* luxury expense to go is a cell phone.
You can be homeless, get Twitter spam on your cell phone, and know where to meet for a polit rally. I think the leadership in Iran is learning this lesson as we speak. Ask yourself, "Would the current opposition organization mechanism in Iran be allowed at all if the threat was percieved beforehand?" China plays this game much, much better. The game of life has new rules, and its least evident to those who grew up on roller scates or with red flyers, who also happen to run the world right now. Danny Hillis is more succinct in his own words (http://www.wired.com/wired/archive//6.01/hillis...).
I often like to ask people what they think the most powerful computer in the entire world is, to see what they really say. Almost everyone gets it wrong. Your mom popped one out, and so did mine. And its wired to survive. Don't be so arrogant to assume you are somehow orders of magnitude better than some hillbilly in Kentucky because you have a high paying job and discretionary income. You didnt build your house/condo/apartment, you dont grow your own food, you dont generate your own electricity, and you dont provide your own security. I will concede not everyone has capacity to handle math (especially abstract math) or social skills required to herd cattle (most are cattle). Genes are a huge, huge player in capacity for advanced roles in society, but never think "cattle" cant gut you like a deer when threatened. This is the lesson of France a bit over 100 years ago.
If you go back and watch WallStreetPro2 again, ask yourself, "does this guy know all this sh!t because hes a finance professional?" I think not, hes probably fscked, reading the internet, starting to pay attention, and reaching basic common sense conclusions. He is one vote. He is one voice. He is also using the tools at his disposal to extress *rage*. This is a big, red flashing warning sign. He is not alone, he is an outlier who simply makes himself known.
J6P is increasingly less reliant on MSM and increasingly more reliant on micro publishers who are focused on truth rather than politburo points. To Tyler, to Mish, to Naked Capitalism, to CalculatedRisk, to MarketTicker, to TheBigPicture, to the many others, you are doing what public schools and most parents didn't, in a time of stress not seen in a generation.
In conculsion, let me remind you of the WayBackMachine (http://www.archive.org/index.php). Don't be so brazzen in wearing an asshat, your grandkids will be able to research you with no effort. Be more thoughtful in your role on forums. History is being written, and scholars of the future will frequent with great zeal the afore mentioned blogs and forums.
Cooter
Yeah, that's right... I'm not calling them "public" schools... They're GOVERNMENT schools!
However, it did have the effect of impressing upon me the practical value of being a good wrestler, as that had the effect of making the majority of physically aggressive @ssholes I went to school with think twice about pushing me or my friends around. This stuck with me throughout my life and has served me well.
And while I agree with the home schoolers in principle (that government schools are a poor choice for education), if I had kids I would enroll them at a Sudbury school.
I have folks in my blood line that are self made millionaires.
Personally, I have an engineering degree and I am considering law school to move up the K-Wave.
Suck it if you don't like a fence sitters position. I find it curious that for all I contributed to the conversation, in the Kings English no less, I ended up fitting in a nice, neat, comfortable little box.
For the record, I was publicly educated, and in Arkansas I regularly had to be treated for lice through elementary school.
Regards,
Cooter
http://www.youtube.com/watch?v=ENu_06t9xl4
Despite their excellent oratory skills, they are barely financially literate. But they are grave dancing as they move into the city from their Flat Bush 2 Bedroom to Manhattan as rents fall like a stone and vacancies rise.
And they still think the world of Goldman.
Right. Because the entire issue can be resolved by putting it in its proper Left/Right context and has nothing to do with the rarely discussed issue of the top robbing the bottom.
Got it. Thanks for the update.
This is a different spin on the same B.S. as the last 8 years. But the song has flavor and the orator has a deep resonant baritone instead of a forced country twang.
When Obama the movie comes out courtesy of Ari Emmanuel, Will Smith should play the lead....but James Earl Jones should do the voice over. A Sith Lord is amongst us.
"I find find your lack of faith in my policies disturbing"
No wonder he always looks so nervous!
"I find your lack of presentation skills disturbing"
You are a beacon of light.
In the end (pun intended), nobody kisses more bank and big-company ass than "conservatives".
I've lived in Manhattan for 12 years son. I am surrounded by Trustifarian Liberals who had Mommy and Daddy pay for their $50k a year liberal skool.
Let's get the conversation started. Read the NY Times.
Look, if you're stating both sides are equally culpable (the Two Crime Family metaphor) and that Obama is a very effective Captain, I'm with you. But if you are claiming Obama and the Democrats are somehow more inherently iniquitous than the Republicans (if a metric for iniquity could be developed) and these last 8 years in particular, then I wholeheartedly disagree.
It sounds like "Help the machines rule us and they are holding us hostage! We have no choice but to go along with this if we want to survive."
Bullshit. They driver here is their greed and their hunger for control and power. The only things that grow exponentially are their bonuses.
And "will be reported on the basis of a single-count of customer-to-customer shares executed" sounds like they will report a single number. Which we already know will be 42.
Smone explain the different reporting methodologies. guessing there is some netting effect that preservres their ability to rape on spread
Silly me
Simply tax trading profits on positions held less than 90 days at 125% and disallow losses on positions held less than 90 days.
Sure, it would create an uproar and claims of massive illiquidity, but instead of spending resources scalping the market via invesments of hundreds of millions in esoteric trading strategies and gambling and rumors, perhaps those resources could be invested to actually analyze companies and markets and achieve a better allocation of resources.
The decision criteria on resource allocation should not be made on microsecond analysis.
Through policy, effect a new norm that has people focused on production and profitability.
If people had to place bets that couldn't be taken off the table for 90 days without penalty, I suspect a a lot more thought would go into placing those bets.
Plus, it would help the Fed/Treasury in the short term as massive amounts of money would go into US Government Securities.
I wondered when agriculture actually began. I didn't realize it was dependent upon the ability to trade in and out of a contract in a nanosecond. Surely if you give it some thought between executing your trades, you might realize that food will still be grown, traded and exported...very successfully.
wrt raising the price of everything traded, I expect if you thought further you would realize the cumulative costs of trading in the manner things are traded today greatly exceeds the cumulative cost of trading under a new norm. In fact trading based on today's definition of trading would screech to a halt. I believe a new set of investment valuation criteria would come into use that might actually lessen volatility and costs.
that holds inventory look for certainty around a price? Without these risk
tools, everyone needs to hedge on what, how much and when to buy and the
farmer on how much risk does he take on ahead of his crop being sold, and
this causes prices to go up.
Hyper trading is not the problem, unfunded leverage is the problem.
While Rich's solution is extreme, I fully support a penalty for those that don't intend to "invest" in the companies they're speculating in. A higher short-term gains tax would reduce volatility (albeit at lower share prices), prevent manipulation/scalping of shorts, reduce unwarranted gains for traders who are otherwise completely unproductive.
This coming from someone who stands to lose a lot from a higher short-term gains tax....trading IS a problem, just as unfunded leverage, outright fraud, and lack of a competent regulatory system are problems. Particularly as the free markets would have already wiped out a majority of these traders if the government hadn't stepped in and backstopped damn near everybody. One way or another, many of these money managers who are currently trading will eventually have to be put to work doing something productive. There's simply no social or economic benefit to what they're doing now.
Perhaps the massive computing power coupled with the geniuses already employed could be redirected to solving the real problems you highlight.
Anyway, my intention is not to be necessarily correct, but to question accepted standards as necessary.
This piece: We believe these suggestions will go a long way to increase transparency, confidence in our industry, and the understanding of our complex market structure.
Should really be rewritten as: <delete this section>We believe these suggestions will go a long way to increase transparency, confidence in our industry, and the understanding of our complex market structure.</delete this section>
"Holy shit, what if Joe six-pack doesn't come back? Who are we gonna dump this shit on? We're gonna be the ones stuck with this garbage."
Thus the "come on in, the water's fine......, well not right now, but it will be soon enough.....the point is 'trust us'"
at golgmanSachsRULES.blogspot.com
and also evidence that the Drudge Report was behind "hyping" of the oil markets last year!