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UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of ten of America's presidencies and who has edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. We get over 5 million article visits a year. See prorev.com for full contents of our site

August 26, 2009

WALL STREET JOURNAL FINDS GOLDMAN SACHS GIVING TOP CLIENTS AND TRADERS DIFFERENT ADVICE THAN AVERAGE CUSTOMERS

Market Watch - Goldman Sachs Group Inc. regularly provides its top clients with stock-trading tips that differ from the firm's published research reports, The Wall Street Journal reported. The report said that the firm's researchers hold weekly meetings, referred to as the "trading huddle," at which analysts discuss their latest views of individual stocks, and that those views are passed on to the firm's top clients and Goldman traders who run the firm's own money. Stock markets have selective hearing

The paper, citing company documents, said few of the firm's clients who receive written stock research from Goldman ever hear or know about the views that emerge from the meetings.

The report cited research on asset manager Janus Capital Group Inc. as an example of the practice. It said Goldman issued a report on Janus on April 1, 2008, rating the stock neutral, and a day later at one of the weekly meetings told a group of Goldman traders that the stock was likely to go higher.

Following that meeting, the paper reported that research department employees called about 50 favored clients, and passed on the information about Janus from the meeting.

Goldman's clients who receive written research did not find out about the bullish update until six days after the call to top clients, according to the report.


5 Comments:

Anonymous Anonymous said...

http://www.youtube.com/watch?v=e3zo7zjYk2E

I strongly believe we need a federal reserve audit. The recent stock market action suggests to me the federal reserve is intervening in a free and open market. I believe the biggest beneficiary of this TRILLION DOLLAR stock market move in a couple of weeks was Goldman Sachs. Goldman Sachs sells derivatives in our equity markets its apparent that Goldman Sachs Has Total Control Over our stock market using the unlimited capital available from the federal reserve. I believe Goldman Sachs doesn't have the best interest of our markets. They are misusing the federal reserve to manipulate the stock market and making huge 100 BILLION DOLLAR profits THIS IS ILLEGAL people expect our government to obey the laws just like citizen. Also this manipulation without regards for cost continues to put our government and the people more and more in debt

JUST THE FACT GOLDMAN SACHS HAS HAD SUCH IMPOSSIBLE SUCCESS AT TRADING IS ALL THE PROOF OUR GOVERNMENT NEEDS TO KNOW TO PROVE MANIPULATION!!!!!!


AUDIT THE FEDERAL RESERVE

http://www.auditthefed.com/

August 26, 2009 7:38 PM  
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