Goldman Caught Manipulating Brent/WTI Spread: Penalty: $40,340

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Mon, 06/20/2011 - 11:54 | 1384984 TooBearish
TooBearish's picture

Fukking brilliant

Mon, 06/20/2011 - 12:13 | 1385049 Hugh G Rection
Hugh G Rection's picture

In other news...

 

"3 masked bandits armed with assault rifles stormed a major bank branch downtown today, making off with $12.3 million in large bills.  They were pursued and captured by responding police, and subsequently fined $50..... It's nice to see the justice system work so efficiently, back to you Craig."

Mon, 06/20/2011 - 12:19 | 1385063 Lieutenant Dan
Lieutenant Dan's picture

Probably cost then more to investigate than the value of the fine they received.

Mon, 06/20/2011 - 12:33 | 1385090 Manthong
Manthong's picture

This just means a slightly less desirable vintage at squid dinner tonight.

Mon, 06/20/2011 - 18:14 | 1386632 Guy Fawkes Mulder
Guy Fawkes Mulder's picture

and in other news:

Man Robs Bank For $1 In Order To Get Healthcare

http://www.gastongazette.com/news/bank-58397-richard-hailed.html

http://i.imgur.com/1GHZc.jpg

Mon, 06/20/2011 - 12:53 | 1385153 ZeroPower
ZeroPower's picture

Or, more interestingly, not even the price of a full contract LOL

Mon, 06/20/2011 - 13:31 | 1385284 Hugh G Rection
Hugh G Rection's picture

ZP-

 

Forgot to tell you, congrats on the Stanley Cup. Go Canucks!

Mon, 06/20/2011 - 14:26 | 1385603 ZeroPower
ZeroPower's picture

Thank you, alas it was a tough game, but glad we prevailed and did our city and fans proud.

http://i.imgur.com/le7kn.jpg

Mon, 06/20/2011 - 15:00 | 1385785 augie
augie's picture

Thank god your team prevailed, less Vancouver be burned to the ground. 

Mon, 06/20/2011 - 15:44 | 1386007 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism.

Mon, 06/20/2011 - 15:44 | 1386012 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism.

Mon, 06/20/2011 - 15:45 | 1386017 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism.

Mon, 06/20/2011 - 15:50 | 1386023 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:50 | 1386024 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:50 | 1386025 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:50 | 1386026 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:50 | 1386027 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:46 | 1386028 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:50 | 1386032 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:46 | 1386033 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:46 | 1386034 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:50 | 1386035 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:46 | 1386036 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 15:50 | 1386037 riley martini
riley martini's picture

  The Banksters make me cheer for honest bank robbers who usually steal just enough to get by . You never hear of honest bank robber proudly stealing from widows and orphans .  The  degenarate supporter of Fascism would say we are just jealous because we wern't stealing from widows and orphans. The virtues of Fascism revealed.

Mon, 06/20/2011 - 18:09 | 1386477 Hugh G Rection
Hugh G Rection's picture

I agreed the first 18 times.

 

30s are here again. Alas, the second Golden Age of Bank Robbery!

 

case study- Wheaton Bandit

Police seek help in capturing bank robber

Last Updated: May 27, 2011 02:28AM

As the deadline to charge one of the most prolific serial bank robbers in Chicago area history approaches, police again are asking for help in identifying the man who robbed a number of area banks including one in Naperville.

<snip>

The statute of limitations on bank robbery, which is a federal felony offense, is just five years. Given that the last robbery the Wheaton Bandit is suspected of committing was on Dec. 7, 2006, at the Glen Ellyn Bank and Trust, he must be identified and charged by Dec. 7 of this year.
Anyone with information on the bandit should call the FBI at 312-421-6700.

also see- Carl Gugasian

http://en.wikipedia.org/wiki/Carl_Gugasian

Mon, 06/20/2011 - 18:58 | 1386759 TheGoodDoctor
TheGoodDoctor's picture

That's because the armed bandits were actually bankers.

Mon, 06/20/2011 - 11:53 | 1384991 firstdivision
firstdivision's picture

If the ticks don't fit, one must acquit.

Mon, 06/20/2011 - 13:01 | 1385164 augie
augie's picture

can't we all just go long? 

Mon, 06/20/2011 - 11:57 | 1384993 mayhem_korner
mayhem_korner's picture

the Committee found no evidence of intentional manipulation of the market; nevertheless it considered the breach to be of a serious nature

Unintentional manipulation. Morality is long into Chapter 7...

Mon, 06/20/2011 - 11:57 | 1384994 element115
element115's picture

Oh shit! $40k. Man, that has got to hurt! Does this mean no dessert for lunch today?

Mon, 06/20/2011 - 14:08 | 1385492 Kelley
Kelley's picture

In unrelated news, a couple was fined $90,000 by the USDA for raising and selling cute bunnies in Ohio. If the couple fails to pay, the fines will jump to $4 million. The couple had sold about $10,000 worth of bunnies.

The investigator and others had said their bunnies were the healthiest they had seen.

There is no word on whether the couple intentionally manipulated the cute bunny market or not.

Mon, 06/20/2011 - 11:57 | 1384996 swissinv
swissinv's picture

jesus, for that fine I start to manipulate the Brent/WTI spread as well

Mon, 06/20/2011 - 11:54 | 1384998 Don Quixotic
Don Quixotic's picture

Can anyone explain wtf happened to Silver when it opened for trading last night?
http://www.kitco.com/charts/livesilver.html

Look between 18:00 and 20:00 last night. WTF is that?

Mon, 06/20/2011 - 12:12 | 1385037 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Looks like a bad feed at kitco, i was watching the live price at that time and it didn't hit the prices kitco's chart suggests.

Mon, 06/20/2011 - 12:09 | 1385039 Hugh G Rection
Hugh G Rection's picture

Looks like Michael J Fox was running the computers.

Mon, 06/20/2011 - 12:25 | 1385046 Dental Floss Tycoon
Dental Floss Tycoon's picture

 

Noticed that also.  A new algo maybe.

Can someone check what the bid ask spread was doing?

Could it be that someone was manipulating the market.  Don't they know they can be fined?

Mon, 06/20/2011 - 12:15 | 1385055 Don Quixotic
Don Quixotic's picture

I wasn't watching the feed live, so I just figured it was another GSF trader with no intent to manipulate the market. Whether kitco, GSF, or JP I suspect there's a fat finger here somewhere.

Mon, 06/20/2011 - 12:25 | 1385077 PaperBear
PaperBear's picture

Keep stacking the physical silver.

All this manipulation will come to bite the manipulators where it hurts and bite them hard.

Mon, 06/20/2011 - 12:58 | 1385166 curbyourrisk
curbyourrisk's picture

As long as JPMorgan is the one that is short Silver.....don;t expect to win.

Mon, 06/20/2011 - 11:58 | 1385002 SilverDosed
SilverDosed's picture

There's only one solution, and it involves a rope and a tree, NYC window would work well too. 25k fine... lulz... how much did they actually make from the trade?

Mon, 06/20/2011 - 13:23 | 1385262 Hugh G Rection
Hugh G Rection's picture

hmm, rope and a tree?  I was thinking an arena filled with banksters and starved lions, sharpened poles and impalement, and gladiatorial deathmatch tournaments, with the last standing pig man rewarded with a trip to the guillotine.  

 

All games would be televised of course, on pay per view, with the profits going to pay down the deficit.

Mon, 06/20/2011 - 11:55 | 1385004 JW n FL
JW n FL's picture

Great another JP Shield!!

 

I Love how Goldman is NOTHING more than the whipping post for the idiot sheep / retail crowd and JP gets a fucking pass ALL! DAY!!, Every-Fucking-Day form EVERYONE!

Mon, 06/20/2011 - 11:59 | 1385013 Franken_Stein
Franken_Stein's picture

 

Not from me.

I called Blankfein & Dimon pathetic carbohydrate units who better should never have been born.

Does it get any clearer ?

 

Mon, 06/20/2011 - 12:32 | 1385095 Prometheus418
Prometheus418's picture

Nope.

I'm heading to court in an hour and a half to see if I can fry up one of the Morgue's littler tenticles and make some calimari for lunch.

Odds are, we're going to get hammered, but there's a chance, and I'm going to fight until I fall from blood loss.

Mon, 06/20/2011 - 12:42 | 1385127 Jim in MN
Jim in MN's picture

Best of luck, and watch those appeals...someone 'up there' likes their squid live and well-fed.

Mon, 06/20/2011 - 13:02 | 1385181 cahadjis
cahadjis's picture

Good luck Prometheus, let us know what happened!

Mon, 06/20/2011 - 14:08 | 1385513 chunga
Mon, 06/20/2011 - 23:41 | 1387777 Jack Napier
Jack Napier's picture

At best they'll be held partially accountable for $138 million in losses. It's good to see some attempt at justice, but it won't make a dent. Criminal prosecution is the only thing that would brighten my day.

Mon, 06/20/2011 - 15:35 | 1385957 riley martini
riley martini's picture

 Goldman is the most proflicate Fascist criminals. The 225,000 signature petition that forced the show hearing revieled enough to show the bdepth of Goldmans criminal operation and those in government involved that were involved . The White House , Treasurie , Cabinet Member that were choosen by Goldman as payment for particapating in the fraud against Pensions,Muni Governments and School Districs ,Charities . Plus the foreign criminals Goldman used to defraud the American People " loose Hedge fund managers" fron Germany. The Fascist controlled media that tried to cover up for their Fascist masters. It was the petition and Rolling Stones that shined some light in the eyes of the sheep. Goldman has teamed up with foreign crinminals to ripp off Americans  too many times for a comment  ,You need an enclyopedia .

Mon, 06/20/2011 - 11:59 | 1385005 Version 7
Version 7's picture

Not to worry, the anointed (aka Lloyd Blankfein) will take care of the small problem.

JP Morgan Manipulating Brent/WTI Spread? They have specialized in silver.

 

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