"After the rogue trader brought down UBS’s credit rating and perhaps even its CEO, there’s another example of a bold rogue trader - except, in this case, the allegedly rogue was trading against his own bank, not taking big bets on its behalf.From Money Science.
The Securities and Exchange Commission accuses former Goldman Sachs trader Spencer Mindlin of figuring out some of the bank’s trading strategies and then beating his own bosses to the punch. The full complaint is here.
On Wall Street, there’s a name for what Mindlin is accused of doing: “front-running.” You can picture the image: a guy sees a trade, and runs in front of it to get to it first."
Thursday, September 22, 2011
Front-running Goldman Sachs From A TD Ameritrade Account | Wall Street | Marketplace from American Public Media
Front-running Goldman Sachs From A TD Ameritrade Account | Wall Street | Marketplace from American Public Media: