Goldman Lobbies Senate, Says Full Transparency Sucks »
Posted By berkeley 1 month ago in Business & Finance
There is a lot of crazy stuff in this document, but the most notable is probably this passage, in which Goldman pooh-poohs the notion that complete transparency in markets creates accurate prices.
Instead, the bank argues that an over-the-counter market in which big traders like Goldman get to do deals in the shadows in “dark pools” without the retail investor having any knowledge of what the hell is going on is somehow better for everybody, that this somehow produces better prices. Of course the reality is that the two-tiered system creates one pool of fools whose every movement is visible to every animal on the Serengeti, and another pool of giant bloodthirsty carnivores who get to walk around invisible, picking off the dik-diks one by one.
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berkeley
If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public ...
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