…says former CEO who may or may not be authorized to speak for the place. Ya hear that would-be buyers? You can piss all the way off.

The co-founder and former chief executive officer of battered market-maker Knight Capital Group gave a bullish assessment of the company’s future, telling CNBC that Knight can “definitely survive,” even without the help of a financial savior. If Knight should go under, “you’d have a hole in the marketplace,” said Kenneth Pasternak who retired from Knight in 2002. The market-maker “needs to restore the confidence of the community at large, but its a very important player and frankly, was a very profitable player until three days ago.”

No ‘White Knight’ Needed For Knight: Co-Founder [CNBC]

43 comments (hidden to protect delicate sensibilities)
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Comments (43)

  1. Posted by NYT Style Editor | August 3, 2012 at 3:25 PM

    "…a hole in the marketplace…"

    Shouldn't there a hyphen between the "a" and the "hole"?

  2. Posted by epic failure | August 3, 2012 at 3:27 PM

    Ditto.

    – Lehman, Bear, Countrywide, et al.

  3. Posted by Boulder, CO | August 3, 2012 at 3:30 PM

    Don't piss on my leg and tell me its raining!

  4. Posted by güest | August 3, 2012 at 3:31 PM

    Where is my knight in shining armour?

    – Knight in dirty armour

  5. Posted by guest | August 3, 2012 at 3:32 PM

    Now all they need is a bullish call from Cramer to give the market an 'all clear' signal.

  6. Posted by Lowly Assistant | August 3, 2012 at 3:33 PM

    IT'S TIME TO TAKE THE KNIGHT BACK, LADIES.

  7. Posted by The Slacker | August 3, 2012 at 3:46 PM

    I see Medieval Times always blows $440 million in 15 minutes…..

  8. Posted by guest | August 3, 2012 at 3:50 PM

    He'll bite your legs off.

  9. Posted by derp | August 3, 2012 at 3:51 PM

    C'mon now, try and understand
    The way I feel under your command
    Take my hand, as the price descends
    They can't hurt ya now. Can't hurt ya now. Can't hurt ya now.
    Because the Knight belongs to lovers.
    Because the Knight belongs to us.

  10. Posted by Guest | August 3, 2012 at 3:53 PM

    Worst comment since the Cramer guy

  11. Posted by Jim Cramer | August 3, 2012 at 3:53 PM

    BUY BUY BUY, BOOOOYAHHH SKEEEE DADDDDAYYYYY

  12. Posted by Mad Mummy | August 3, 2012 at 3:56 PM

    Hey-yo, Jim Cramer here. When I worked with Knight Capital, I wasn't able to attend the roundtable because I was all wrapped up.

  13. Posted by M. Levine | August 3, 2012 at 4:00 PM

    Nope. Asterisks.

  14. Posted by South Park, CO | August 3, 2012 at 4:14 PM

    Don't cum in my eye and tell me it's cloudy?

  15. Posted by Guest | August 3, 2012 at 4:16 PM

    I'm just scared of zombie guy somehow melding with the Cramer.

  16. Posted by TSTF | August 3, 2012 at 4:19 PM

    So is he saying they are too small to fail??

    SEC enforcement attorney

  17. Posted by Josey W. | August 3, 2012 at 4:21 PM

    Meet me at Minettas at 7:30. Tell me you had to come back so I know it's you.

  18. Posted by Guest | August 3, 2012 at 4:22 PM

    Fail

  19. Posted by Deleveraging | August 3, 2012 at 4:26 PM

    Wasn't Pasternak running Knight in the late 90's and their traders were running a huge scam changing the execution prices on block trades and skimming from their institutional clients orders? They couldn't find anyone more credible to interview?
    http://www.sec.gov/litigation/complaints/comp1932

  20. Posted by VonSloneker | August 3, 2012 at 4:41 PM

    Knight can definitely survive, even without the help of a financial savior. Brisk sales of our "Ladies of the Knight" calendar should fill our funding gap in a matter of days. In short, we will not go gently in to that good Knight…

    – Apparently we're all doing puns guy

  21. Posted by TheDetailGuy | August 3, 2012 at 4:41 PM

    I don't know…I think the guy has like a an 812 FICO…that seems pretty creditable to me.

  22. Posted by nelson muntz | August 3, 2012 at 4:48 PM

    Get those brokers back in here! Turn those machines back on!!!!

  23. Posted by JohnnyCanes | August 3, 2012 at 4:50 PM

    Pasternak means parsnip in Russian. So… That's something.

  24. Posted by The 1% | August 3, 2012 at 5:36 PM

    They are a part of the 99% worthless people

  25. Posted by Mad Dr. Mummy | August 3, 2012 at 5:41 PM

    I tried to be a doctor but I didn't have the patience, and then it came time to fail but I was all wrapped up.

  26. Posted by Jim Cramer | August 3, 2012 at 5:53 PM

    BOO YA SKEEEE DADDDYYYY

  27. Posted by UFO | August 3, 2012 at 6:07 PM

    Up 60% from yesterday. Called it. Make me a trader.

  28. Posted by batch file | August 4, 2012 at 1:05 AM

    This is my conspiracy theory and i'm sticking to it. The algo was buying high and selling low. My guess as to what happened is that they actually put the wrong code to the wrong desk. The prop desk is to buy low and sell high, but the retail desk is paying the spread– buying at the offer side and selling at the bid side. My guess is that they put the retail code on the market making side, rather than the retail side. Maybe that's why they couldn't detecte so quickly because they were looking at the retail code thinking something went wrong and then checked the market making code?

  29. Posted by 10xLevered | August 4, 2012 at 4:25 PM

    Wut

    -Knight Capital Technology Analyst

  30. Posted by 25th Hour Trader | August 5, 2012 at 1:38 PM

    "…and frankly, was a very profitable player until three days ago.”

    Let me stop you. I had a very profitable strategy of selling outs for YEARS until I blew up in three days.

    V. Niederhoffer

  31. Posted by You know who | August 5, 2012 at 1:56 PM

    Jealous bitches.

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    I know the dude who is the MD of the electronic trading business. Biggest douche you’ll ever meet. A real tool. He was dating some analyst with fake knockers who could suck the chrome off a trailer hitch. Word is, he dumped her, and she busted up the place with a bat.

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