Only Goldman Sachs can get away with Illegal Insider Trading

Alexander P Morris — Thu, 20 Aug 2009 22:33:04 +0000

It’s kind of ironic how Martha Stewart became the poster child for cracking down on insider trading activity, even though it was never even proven or substantiated. For those of you that remember the movie Airplane with Leslie Nielsen, it reminds me of the scene where the police officers detain the little old lady while allowing a dozen terrorists to walk right through the security gate armed with bazookas. Now with Goldman Sachs, we’re faced with likely the greatest inside information and market manipulation scheme of all time — way larger than the usual trading on inside information that seems to go on every day in the markets. And once again, I doubt a single one of the people responsible will end up in jail over it (let alone receive anything much more than a slap on the wrist, if that). More likely, it’ll be brushed under the rug with the rest of the manure and never heard of again. But should we really expect anything different from our government, which at this point exists as little more than a taxpayer-subsidized wholly-owned subsidiary of Goldman Sachs?! Shhhh, thou shalt not use the lordGoldman’s name in vain!

It was also quite telling that Goldman was able to have the FBI detain their programmer Sergey Aleynikov within a day’s notice on charges that the theft of their code was an issue of national security as it could enable others to manipulate the markets. Of course, I’m sure that’s not what Goldman would be using it for (uh huh)… But I suppose that the Plunge Protection Team a.k.a. Goldman Sachs does require “special access” to the markets to do its job and assure it stays in the black (and then sooooome).

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What’s Interactive Brokers Really Worth? Watch IPO IBKR’s First Day Trading at The Speed of Light

Alexander P Morris — Sat, 05 May 2007 22:00:00 +0000

Interactive Brokers’ highly anticipated IPO was released on Friday. You can watch its entire first day of trading during the video. The initial red herring called for 20M shares to be priced at $23-$27 per share. Due to heavy demand, the quantity was increased to 34.5M shares at a projected $27-$31 per share. The IPO was finally priced via WR Hambrecht + Co’s OpenIPO auction process at $30.01 per share for 40M shares, double the initial expected quantity. So, for the real question… What is Interactive Brokers worth versus its peers? Stocks mentioned: NASD:IBKR, NASD:ETFC, NASD:AMTD, NASD:SCHW, NYSE:GS

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Only Goldman Sachs can get away with Illegal Insider Trading

What’s Interactive Brokers Really Worth? Watch IPO IBKR’s First Day Trading at The Speed of Light