MindzEye
Wayward Ditch Pig
Re: OT - The News Thread
and while Iceland does that...the abso****inglutely unprecedented takes place in North America, showing with absolute truth that the market is a rigged game.
http://www.nytimes.com/2010/05/12/business/12bank.html?hp
One bank doing it is unreal...rare and amazing. The 4 biggest banks doing it all in the same quarter? Let's just say it's as close to statistically impossible as it gets if the market operated as a truly fair and free entity.
and while Iceland does that...the abso****inglutely unprecedented takes place in North America, showing with absolute truth that the market is a rigged game.
http://www.nytimes.com/2010/05/12/business/12bank.html?hp
Despite the running unease in world markets, four giants of American finance managed to make money from trading every single day during the first three months of the year.
Their remarkable 61-day streak is one for the record books. Perfect trading quarters on Wall Street are about as rare as perfect games in Major League Baseball. On Sunday, Dallas Braden of the Oakland Athletics pitched what was only the 19th perfect game in baseball history.
But Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase & Company produced the equivalent of four perfect games during the first quarter. Each one finished the period without losing money for even one day.
Their showing, disclosed in quarterly financial filings, underscored the outsize — and controversial — role that trading has assumed at major financial institutions. It also drives home the widening lead that a handful of big banks are enjoying over lesser rivals on post-bailout Wall Street.
One bank doing it is unreal...rare and amazing. The 4 biggest banks doing it all in the same quarter? Let's just say it's as close to statistically impossible as it gets if the market operated as a truly fair and free entity.