On July 7th 2009...Chris Powell of GATA... filed a complaint with the SEC to investigate published reports about Goldman Sachs trading program.
Dear Chairman Gensler / Dear Chairman Schapiro: I'm enclosing a copy of a report distributed July 6 by Bloomberg News Service about the U.S. government's prosecution of a former employee of Goldman Sachs Group Inc. involving the purported theft of a Goldman Sachs computer trading program. The report quotes Assistant U.S. Attorney Joseph Facciponti as saying in U.S. District Court in New York City New York City: see New York, city.
New York CityCity (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. : "The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways." If the report quotes the assistant U.S. attorney correctly, and if he was characterizing Goldman Sachs' position correctly, then Goldman Sachs claims to have possession of a computer trading program that can manipulate markets.
The assistant U.S. attorney's comment can be construed to suggest Goldman Sachs considers its own manipulation of markets to be fair, while such manipulation by others would be unfair. The court proceeding described in the Bloomberg News story would seem to impugn all markets in which Goldman Sachs trades. On behalf of the Gold Anti-Trust Action Committee Inc., I ask your commission to investigate Goldman Sachs' trading program urgently and report its findings publicly. Thanks for your consideration. With good wishes. CHRIS POWELL
Secretary/Treasurer
For SEC Response-Click Here
SEC, Madoff, GOldman are Synonymous.
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