NYSE halts transparency, apparently to protect Goldman

Zero Hedge

The NYSE has taken action to make sure that nobody will henceforth be able to keep track of the complete dominance that Goldman Sachs exerts over the New York Stock Exchange. This basically ends our weekly Program Trading updates disclosed every Thursday indicating that Goldman has singlehandedly captured all of NYSE’s program trading.

I generally try to avoid conspiracy theories but more and more it appears Goldman has way too power, is a shadow government, and cares not who or what it damages in its lust for money and power. Teddy Roosevelt once broke Standard Oil up into little pieces for those very reasons. Goldman should be broken up too.

But wait, there’s more. It now appears that the Goldman code that runs this facet of their program trading was stolen by an employee who was then quickly nabbed by the FBI. Gee, it’s amazing how fast the FBI moves when their overlords demand it.

Both of these stories are from the highly reliable Zero Hedge written pseudonymous by Tyler Durden, who popped out of nowhere a little while back with serious insider information and some axes to grind. He’s ruffled plenty of feathers so far. But, given what he’s doing, maybe it’s time we knew who he is and what his part in the game is.


  • Because I just finished this chapter (The Socialist Challenge) last night:

    For instance, Theodore Roosevelt made a reputation for himself as a “trust-buster”. In fact, as Wiebe (The Search for Order, 1877-1920, 1966) points out, two of J.P. Morgan’s men – Elbert Gary, chairman of U.S. Steel, and and George Perkins, who would later become a campaigner for Roosevelt –

    arraigned a general understanding with Roosevelt by which … they would cooperate in any investigation by the Bureau of Corporations in return for a guarantee of their companies’ legality.

    They would do this through private negotiations with the President.

    A gentleman’s agreement between reasonable people.

    The panic of 1907, as well as the growing strength of the Socialists, Wobblies, and trade unions, speeded the process of reform. According to Wiebe:

    Around 1908 a qualitative shift in outlook occurred among large numbers of these men of authority… .

    The emphasis was now on “enticements and compromises”.

    Richard Hofstadter (The American Political Tradition, 1954), in his biting chapter on the man the public saw as the great lover of nature and physical fitness, the war hero, the Boy Scout in the White House, says:

    The advisers to whom Roosevelt listened were almost exclusively representatives of industrial and finance capital – men like Hanna, Robert Bacon, and George W. Perkins of the House of Morgan, Elihu Root, Senator Nelson W. Aldrich … and James Stillman of the Rockefeller interests.”

    Roosevelt supported the regulatory Hepburn Act because he feared something worse. He wrote to Henry Cabot Lodge that the railroad loggyists who opposed the bill were wrong:

    I think they are very short-sighted not to understand that to beat it means to increase the movement for government ownership of the railroads.

    His action against the trusts was to induce them to accept government regulation, in order to prevent destruction.

    Zinn, Howard. The People’s History of the United States, 1492-present p350,51; New York: Harper Collins, 2003.

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