GS sniffing networktraffic to profit...??

Discussion in 'Financial Cents' started by Tango3, Jul 8, 2009.

  1. Tango3

    Tango3 Aimless wanderer

    posted on kos and latoc. Fron what I gather from this bit; seems Goldman Sachs was given special access to electronic trading traffic streams by .gov ,and has benefitted handsomely having foreknowledge of trades and market movements::shock:

    Want to read the future ?
    From DKOSer Ezekial:
    ...GS, through access to the system as a result of their special gov't perks, was/is able to read the data on trades before it's committed, and place their own buys or sells accordingly in that brief moment, thus allowing them to essentially steal buttloads of money every day from the rest of the <del>punters</del> world.
    Two things come out of this:
    1. If true, this should be highly illegal, and would, in any sane country result in something like what happened to Arthur Andersen...
    (2. ... is way off point....)
    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.
    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.]

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