Belmont Club

By Richard Fernandez

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Does business as usual work?

July 2, 2009 - 12:56 pm - by Richard Fernandez
blert
2009-07-02 17:23:52

The all too obvious government meddling in the financial markets…

The New York desk in conjunction with Government Sachs and JPMorgan are having a fine time ramping the Street.

Since GS is now trading an astonishing 20% of the NYSE action at its prop desk… volume isn’t quite all that real.

After throwing in the quant traders like Ren Tec…

True liquidity is a lot less than one might think.

Stirring the pot is not a sign of strong hands. Instead, such volume represents computerized front-running against institutional investors who are being clipped for nickels and dimes on an industrial scale.

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