<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/2fa76662-4af6-45ea-941a-985f407ee7a7/838AD1D0-4C9D-4F41-AEC8-B9904ED05CB9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/" href="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/" style="font-size: 11px;">www.ritholtz.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/"><H2><A title="Permanent Link to Is Goldman Stealing $100 Million per Trading Day?" rel="bookmark" href="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/">Is Goldman Stealing $100 Million per Trading Day?</A></H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/"><P>Here’s something to give the conspiracy buffs a total breakdown: Combine these stories from <A target="_blank" href="http://www.bloomberg.com/">Bloomberg</A>, <A target="_blank" href="http://www.dailykos.com/">Daily Kos</A>, and <A target="_blank" href="http://zerohedge.blogspot.com/">Zero Hedge</A>, and you can reach a rather unsavory conclusion:</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/"><BLOCKQUOTE><P>•  <A href="http://www.bloomberg.com/apps/news?pid=20601087&sid=a7HGVAn8w73Y&">Goldman Sachs’s $100 Million Trading Days Hit Record</A></p> <P>• <A href="http://www.dailykos.com/story/2009/7/6/750420/-Breaking:-FBI-Arrest-Opens-Goldman-Sachs-Pandoras-Box">FBI Arrest Opens Goldman-Sachs’ Pandora’s Box</A></p> <P>• <A href="http://zerohedge.blogspot.com/2009/07/intraday-observations.html">Intraday Observations</A></p> <P>• <A href="http://www.dailykos.com/storyonly/2009/7/7/750786/-Incredibly-Shrinking-Liquidity-as-Goldman-Flushed-Quant-Trading">“Incredibly Shrinking Liquidity” as Goldman Flushed Quant Trading</A></P></BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/"><P>What is the inference of potentially illegality here?</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/"><P>“That Goldman Sachs may just possibly have used security access codes and built a system to acquire trading information PRIOR to transaction commit time points at NYSE.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/"><P>The profitability of this split-second information advantage would have been and could have been extraordinary. Observed yielding profits at $100,000,000 a day. [summary to address complaints with respect to complexity.]</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ritholtz.com/blog/2009/07/is-goldman-stealing-100-million-per-trading-day/"><P>With 60% dominance of NYSE program trading, what’s good for Goldman defines what shows as overall market performance.”</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/838AD1D0-4C9D-4F41-AEC8-B9904ED05CB9/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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