Goldman Sachs Admits Its Software Can “Manipulate Markets in Unfair Ways”

George Washington Blog
Wednesday, July 8, 2009

Goldman Sachs says that its program trading software can be used to manipulate markets:

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.

(and see this).

Given that Goldman obviously knows how to use its own program – which it paid many millions for – isn’t that a virtual admission that Goldman has been manipulating markets?

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