Archive - Jul 5, 2009
Is CNBC Filtering Any Reference To Zero Hedge?
Submitted by Marla Singer on 07/05/2009 23:24 -0500Update: Short answer- probably not.
From our tips line:
I am sure you have probably seen this before, but I found some interesting differences in the article by Matthew Goldstein as posted at http://blogs.reuters.com/commentaries/2009/07/05/a-goldman-trading-scandal/ and the article as posted on cnbc, http://www.cnbc.com/id/31750907.
Returns on major FX players are showing choppiness in FX
Submitted by Cornelius on 07/05/2009 21:21 -0500The returns of some big FX players are serving as an impromptu summary for the past 6 months.
Is A Case Of Quant Trading Sabotage About To Destroy Goldman Sachs?
Submitted by Tyler Durden on 07/05/2009 16:42 -0500Matt Goldstein over at Reuters may have just broken a story that could spell doom for if not the entire Goldman Sachs program trading group, then at least those who deal with "low latency (microseconds) event-driven market data processing, strategy, and order submissions." Visions of swirling, gray storm clouds over Goldman's SLP and hi-fi traders begin to form.
The Zero Hedge Country Decal
Submitted by Marla Singer on 07/05/2009 14:57 -0500
You wanted decals? Fine. Here are your decals.
H. Rodgin Cohen's (Failed?) Quest To Backstop Every Bank... Ever (And Usurp Geithner's Throne)
Submitted by Tyler Durden on 07/05/2009 09:11 -0500Over the past two weeks many banks issued press releases and opened up the PR spigot to indicate just how stable they all are now that a few have managed to pay down their TARP commitments. This of course, is nothing but a complete farce, and simply yet another chapter in the "consumer confidence" game played by the administration and its financial underlings. In order to see just how much the banking system depends on the continued unlimited wallet of taxpayers and Geithner's printing presses, and how much certain law firms continue to depend on the somewhat less limited wallet of Wall Street, I present an October 31, 2008 letter recently obtained by Zero Hedge, in which Sullivan & Cromwell, Wall Street's #2 favorite law firm (or is that #1: I am sure Wachtell Lipton would have a few choice words with regard to that particular league table rating, although it may be hard pressed to match S&C's $241,975 in donations to the Democratic National Convention), goes to town to make sure that its well-deserving clients including Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan Chase, Merrill Lynch, Morgan Stanley, State Street and Wells Fargo get to not only have the taxpayers' cake (in perpetuity), but eat more and more of it each day.
