“..Toward the end of the book he rattles off one muppet-fleecing scheme after another -
- from letting clients place mistaken orders that netted Goldman millions – to constantly switching up the firm’s recommendations to clients about whether to buy or sell options on European banks in the middle of the European debt crisis – taking the opposite side of the trade each time.
He says these shenanigans were jerking around European banking stocks – contributing to the panic in the market – all while Goldman was also helping hedge funds profit from the chaos -
- and trying to win contracts to help governments sort out the mess.
He accuses the firm of making recommendations to clients in a way purely designed to help its own trading positions -
- which he calls “axes” and – um – Krispy Kreme doughnuts:..”
go to source/story>>>