Goldman Sachs is reportedly winning 98% of their trades. That is not trading. That is setting the market direction. That’s interesting because that’s not a legitimate role in a healthy market. At some point in the future, the unseemly truth will break to the surface and we will almost certainly discover that good old Government Sachs has been cheating yet again. Their organizational behavior is pretty easy to characterize: Serial Scumbags.
Have you ever wondered how these folks rationalize their activities? Many of them do understand that they often report to work on a daily basis with the express intent of using insider advantages to systematically transfer wealth Joe America’s IRA into their account. This presentation by Dan Ariely is an interesting look into that process.
