New York (Ucs News Financial) Goldman Sachs Group Inc. has been contracted by the Obama Administration to help finance the national health care reform package. According to White house insiders The New York Banks propriety front running Flash trading computer programs will be used cut costs in the healthcare market.
The, possible illegal, trading technique know as Front running has allowed Goldman Sachs to earn tremendous profits. How can this help Americans afford hearth care? By manipulating the health care markets just like the financial markets.
Front running refers to an unethical practice of a broker trading shares based on information from the analyst department before his or her clients have been given the information. In the case of Goldman the high speed trades allow the bank to read the market price direction seconds before it executes the trade on behalf of their customers.
To aid the Obama Health care reform plan the Goldman program will be used gauge the market price of a medical procedure such as a kidney replacement or an MRI. The plan will allow Goldman to track the price, pre-order the procedure then resell to the insurance company pocketing the difference.