Goldman Sachs' sub-prime bet pays off

[BrilloPad]

Market manipulation is a matter of fact in a capitalist society - build a bridge, get over it. Or if you prefer we can all go back to communism, because we all know how free, transparent and closed to manipulation that system is.

So the only alternative is between letting the "rich" do what they want and everyone suffering?

I would like to see markets where the prices are somewhere approaching fair. And where hard work is encouraged.

Tomorrow is triple witching and I think there will be alot of market manipulation going on.

[snaw]

There you go making assumptions, why do you do it?

As for being dull? You and many others may find me dull. That won't keep me awake at nights. However what I do try to do is be original. If that's dull in your eyes then so be it.

Personally, I don't think I'm racist or bigoted. In fact the only people to accuse me of being such are SB and yourself. I'll let you draw your own conclusions on the common denominator there.

Original?!?! When was that then, must have missed that post. If you mean a small minded objectionable bigot, then yeah - very original. Keep up the good work. Though you're spelling seems to be pretty good.

Actually the first time I noticed you was on some anti Scottish tirade. And there have been several since then. Yes, you're a bigot. You don't like Scottish people, you've said so many times and the reasons you give generally are some preconceived drivel spouting Scottish stereotypes.

[snaw]

not sure what this has to do with Goldmine Sachs - but all the Scottish people I have ever met have been lovely. Until they start talking about the English. I just don't understand why if England are playing France the Scots will support France. I never care who Scotland play.

I wish it were possible to have a sensible discussion on these boards about this.

We're not all like that. I like English people, and support England in all sports bar rugby, against anyone except Scotland. It's not exactly the norm but not as unusual as you'd think either.

To be honest I think it's pretty standard behaviour for any small country who lives next to a big one - NZ vs Aus, Can vs US etc.

[snaw]

Me too

Unfortuantely the scots on this board are Snaw, SB and DavieJones.. so chances of an adult discussion are practically zero.

Yep Tay, I've really noticed your sparkling adult contributions to the discussions in these parts.

Actually the more I read your posts, the more I'm convinced you're mailman.

[shaunbhoy]

Actually the more I read your posts, the more I'm convinced you're mailman.

Nah. Mailman makes far more sense.

[wendigo100]

Because the Chinese are smart and planning decades ahead, they certainly don't allow their banks to waste time and money playing financial games, so they focus on real deal - time comes they will buy City, only I reckon they will fire 80% of people there. So learn Mandarin if you don't want to be among them.

Yes they do - their bank is manipulating the exchange rate with the dollar. Surely you knew that Alexei?

[wendigo100]

It is not a question of morality or ethics - market manipulation is very bad for the market, so it has to be eliminated, especially when it happens so blatantly as it is done by hedge funds - there are already calls from economists to look at this situation with shorting stocks - a lot of it happens when those guys don't even OWN stocks.

But you have advocated a 90% tax on trading. Isn't that manipulating the market?

[AtW]

Yes they do - their bank is manipulating the exchange rate with the dollar.

It's one of the jobs of a central bank to maintain currency levels - this is done in the interest of majority of participants in the market, unlike actions of private banks that screw market participants by manipulating market in order to make money for themselves.

[AtW]

But you have advocated a 90% tax on trading. Isn't that manipulating the market?

No. I advocate 90% tax on short term speculative income - long term share ownership should be encouraged, public executions to make the point is a tad off when it comes to Human Rights Act, but high level of tax is fine. Long jail terms for those who conspire to influence market in order to make money - this primarily concerns people like Soros and now infamous hedge funds.

Naturally this will lead to loss of jobs in the City, one can only hope these people will go look onto finding cure for cancer, maybe even new energy sources, they are smart, right, so surely they will be able to do it?

[AtW]

Of course shorting happens without owning stocks- that's the whole premise of the trade you imbecile.

I believe market manipulation is illegal. The problem is that the authorities are very lax and not applying existing laws. Same goes for anti-mopolies laws that are routinely being circumvented by companies that make exclusive agreements, for example I am ceriously annoyed that Sky gets monopolistic use of Premiership football matches - this kind of arrangement should be illegal as it reduces competition.