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JPMorgan vs. Goldman Sachs: Why the Market Was Down 7 D... - 2/4/2010 5:08:52 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		Reforms need to get done and we have to be prepared for these dirty tricks.

JPMorgan vs. Goldman Sachs: Why the Market Was Down 7 Days in a Row

"High frequency trading accounts for 70% of trading on the New York Stock Exchange. Ordinarily, a buyer and a seller show up on the floor, and a specialist determines the price of a trade that would satisfy buyer and seller, and that's the market price. If there are too many sellers and not enough buyers, the specialist lowers the price. High frequency trading as conducted by Goldman means that before the specialist buys and sells and makes that market, Goldman will electronically flood the specialist with thousands and thousands of trades to totally disrupt that process and essentially commandeer that process, for the benefit of siphoning off nickels and dimes for themselves. Not only are they siphoning cash from the New York Stock Exchange but they are also manipulating prices. What I see as a possibility is that next week, if the bankers on Wall Street decide they don't want to be reformed in any way, they simply set the high frequency trading algorithm to sell, creating a huge negative bias for the direction of stocks. And they'll basically crash the market, and it will be a standoff. The market was down three days in a row, which it hasn't been since last summer. It's a game of chicken, till Obama says, 'Okay, maybe we need to rethink this.'"

http://www.silverbearcafe.com/private/02.10/morganvssachs.html
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RE: JPMorgan vs. Goldman Sachs: Why the Market Was Down... - 2/4/2010 5:10:11 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		Lemme ask you this.

How many times a year do these guys get bonuses?

3?

(in reply to Brain)
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RE: JPMorgan vs. Goldman Sachs: Why the Market Was Down... - 2/4/2010 5:20:26 PM   
SL4V3M4YB3


Posts: 3506
Joined: 12/20/2007
From: S.E. London U.K.
Status: offline 		Is this a trick question? I assume they get pay related review after each quarter and there are errm four quarters in the year.

_____________________________

Memory Lane...been there done that.

(in reply to pahunkboy)
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RE: JPMorgan vs. Goldman Sachs: Why the Market Was Down... - 2/4/2010 5:22:09 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline 		you really do believe everything you read, dont you?

(in reply to pahunkboy)
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RE: JPMorgan vs. Goldman Sachs: Why the Market Was Down... - 2/4/2010 5:40:08 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: SL4V3M4YB3

Is this a trick question? I assume they get pay related review after each quarter and there are errm four quarters in the year.


I dont know the answer to the question.  It just seems excessive.   I think I had one job that we got a bonus- and that was just once a year.

So these guys got a Jan bonus- and a December bonus and then sometime over the summer.

these people are on the public payroll- in the regard that we now fund them.  so what would that be, g7 pay scale?  or even if you compared it to Obamas salary- the bonuses are excessive.


(in reply to SL4V3M4YB3)
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RE: JPMorgan vs. Goldman Sachs: Why the Market Was Down... - 2/4/2010 5:42:07 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: willbeurdaddy

you really do believe everything you read, dont you?






I don't know how to read.

(in reply to willbeurdaddy)
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RE: JPMorgan vs. Goldman Sachs: Why the Market Was Down... - 2/4/2010 9:54:39 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		Bonuses are once a year but this isn’t just about reforming how they are paid; this is about reforming the financial system so these banks don’t take excessive risk. Risk like you take gambling in a casino, and bringing us another market crash and depression with these credit default swaps or financial products. willbeur knows but he doesn't want/care to tell you.

Watch this please:
Inside The Meltdown

On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. "There was literally a pause in that room where the oxygen left," says Sen. Christopher Dodd (D-Conn.).

http://www.pbs.org/wgbh/pages/frontline/meltdown/view/?utm_campaign=searchpage&utm_medium=videosearch&utm_source=videosearch



quote:

ORIGINAL: pahunkboy

Lemme ask you this.

How many times a year do these guys get bonuses?

3?



(in reply to pahunkboy)
Profile   Post #: 7
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