Disturbing News From Wall Street

Disturbing to me anyway. What Happens on Wall Street stays on Wall Street? (Unless you are one of the poor folks harmed by non-transparent financial systems and don't know where to trace it back to...)

From the WSJ:

Goldman Sachs Group Inc. ranks as the most profitable securities firm on Wall Street -- reflecting its mastery of trading on the world's public markets.

Now Goldman is turning that franchise on its head, creating its own private system to trade the stocks of companies that don't want the scrutiny and regulatory burdens of going public.

The new system, GS TRuE -- short for Goldman Sachs Tradable Unregistered Equity -- was announced two weeks ago and made its debut on Monday with an $880 million sale of a 15% stake in Oaktree Capital Management LLC, an alternative-investment manager.