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

George Washington Blog [1]
Wednesday, July 8, 2009

Goldman Sachs says [2] 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 [3]).

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?