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Friday, April 5, 2013
Quartz: How to hide $8.3 billion
Today Matthew Taylor, a former Goldman Sachs vice-president who traded equity derivatives, pleaded guilty to concealing a massive trading position that lost the bank $118.4 million in late 2007. He was able to amass an $8.3 billion long position before anyone else noticed in what are called "e-mini futures," which bet that.
