Goldman Shutting Proprietary Trading

[Parsad]

Goldman has joined JP Morgan in shutting down their proprietary trading desks.  About friggin' time!  Cheers!

 

http://www.theglobeandmail.com/globe-investor/goldman-shutting-proprietary-trading/article1695839/

[ubuy2wron]

Is not just about every bond desk just a big prop trading operation. I for one would like to see fixed income mkts move to a open transaparent platform. I would also like to see HFT be outlawed nano second bids and offers are foolish the specialist system which existed for decades previously was a corrupt system some described it as a lisence to steal but it was a highly regulated den of thieves. The markets have devolved into an exchange of thousands of pick pockets all furiously attempting to lift every one elses wallet . I do not think this  is what Adam Smith was referencing when he talked about the Invisible Hand