The scary thing is that they let it go on this long.
Goldman Sachs limited clearing for accounts that manage less than $5 million, lifting the previous $1 million threshold, said the people, who asked not to be identified because the decision was private. While the firm continues to clear trades for some accounts below the new limit, it’s winnowing out clients that are riskier, have lower growth prospects and are more retail rather than institutional in focus, one of the people said. “We are conducting a routine analysis of our business and in some cases the profile of clients was not consistent with our current standards and criteria,” said Ed Canaday, a spokesman for the New York-based bank. [Bloomberg]
How ironic, we only close trades on accounts less than $5M
~ UBS
Whirr…beeep…beeep…
1228: Trade error, Goldman Sachs not responding
Whirr…beeep…beeep…
1228: Trade error, Goldman Sachs not responding
Playing right into my hands…. *cackles*
-Sarah Bernett
Aw. Poor UBS.
After all those indulgences I bought from God’s bank, my serfs are turned away at the door? I’m starting my own church.
God recently raised his minimum capital requirements to 5mm, this instituted the raise on GS’s end, when asked for comment, LB stated simply “We’re doing God’s work here people, if God raises requirements we follow suit, blame the big guy.”
The markets have gone up a lot lately, so I thought it’d be a good chance to increase our short S&P exposure – I put in an order to sell “SH”, but the trade didn’t go through.
Thinking something was broken with the trading device I called the REDIPlus people to see what was wrong but they won’t pick up my call.
Do any of you malicious bloggers think this could be related?
~ #2 UBS Trader
wow… UBS has 2 traders
I can not buy an f’ing break with borrowed money. My week started off great, and this is how it ends?
Front running bigger trade blocks is more profitable, duh
SH is a short fund, by shorting it you go long.
but the problem with block trading is that my orders are just going to best effort and avg price in total will be higher than my limits when placing the trades. on top of that biggest worry is some dumbass will put in an incorrect order and my position will fail example circa earlier this year with a nearly 1000 point drop in 15 minutes. gs can just suck my juicy taint covered balls
What does clearing trades mean?
-Citi Operations Analyst
fuck the goldman sachs … http://www.youtube.com/watch?v=PTUY16CkS-k&feature
If Goldman is doing God’s work,.. and if you follow me, we look at the God in the Bible, he worked with the Jew. Then, he opened the message and worked with everyone (N.T.). Don’t listen to me, go research it for yourself. Jew first, then Gentile. So if, and you need to follow me here, but if GS is God, and God is for everyone, but then GS is cutting back clients, cutting the low end, then it is like God returning to the Jew as his chosen people, scrapping the Jesus nonsense and the wider market, the non-Hebraics. In essence, and folks you can check for yourselves, don’t take my word for it, but essentially Goldman is saying they are abandoning Christians, which is another way of saying they are abandoning America. I don’t want to say things like conspriacy, or Soros… and did you know the name soros is a palindrone, which is odd since a Soros financed policy specialist worked for Palin. It all ties together and the MSM ain’t gonna tell you this my friends. You won’t read this on DB or Beastweek or Huffers. It goes deep. This is deep. Let me show you a chart….
G. Beck
Very nice.
JtVPzh I am so grateful for your blog.Really thank you! Fantastic.