I found this on the way to something else. It’s something I had never heard of before: Project Turquoise. One of the key components seems to be to enable trading away from public scrutiny or regulation.

the new exchange has already started to dream up alternative revenue streams should stock trading not prove sufficiently lucrative.

The first of these is to allow transactions in “dark liquidity”pools, where firms offer to buy and sell large blocks of shares away from public sight. Speaking at an Exchange Forum conference in London in May, Phillip Hylander, co-head of European equities at Goldman Sachs, said: “Turquoise is to be a hybrid that will incorporate a public order book and a non-public order book.”

Is it really a surprise that Henry Paulson’s good buddies at Goldman Sachs are the chief proponent of this money-launderers’ dream? To paraphrase Gandhi:

Q: What do you think of the American free market?
A: I think it would be a great idea.

Unfortunately, open and free markets are the very last thing that those who pass between the Washington/Wall Street revolving door have ever wanted.