“At least three operators of U.S. options exchanges are reviewing trades that took place at the beginning of the day and NYSE Amex Options said most of the transactions may be canceled.”
Looks like Goldman is the first to show the signs of systemic brake down of the virtual monetary system. Apparently their Market Rigging Program went wonky this morning and they lost over $100M in minutes!
But no worry…they are just going to have these transactions voided!
Goldman Sachs “Working” With Exchange to Resolve Options Trades
“Goldman Sachs Group Inc. is working with exchanges to resolve faulty options trades that roiled markets this morning and any losses “would not be material to the financial condition of the firm,” according to an e-mail from spokesman David Wells.”
“A ‘large number’ of trades in tickers beginning with letters H through L in the first 17 minutes are being examined by NYSE Amex Options, it said in a statement. CBOE Holdings, the largest venue, said it is examining trades between 9:30 and 9:41 a.m. Nasdaq OMX Group Inc. is reviewing options transactions from 9:30 to 9:47 a.m., according to its website”
So what would happen if these “problem trades” had MADE millions in minutes for Goldman? Do you think the exchanges would have voided those transactions? NOT A CHANCE!
My take: Bring on the END GAME!
Interview: Bix Weir on Gold Manipulation and the Coming Crash
May the Road you choose be the Right Road