The End of Goldman Sachs?

[MARV]

I'm crossing my fingers [:(!]

http://money.cnn.com/2010/04/16/news/co ... yes&hpt=T1

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[SallyLightfoot]

No way. I'm cynical, but these guys will get slapped with a fine that sounds large, like 30 Million dollars, but which represents less than a day's profit.<blockquote>"Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through." - [b]Jonathan Swift[/b]</blockquote>

[Bitter Almonds]

<p align="justify">According to the president and congress, they are "too big to fail"... and also too big to try in court for fraud and for hi-jacking our economy and crashing it. An all-around "FUCK YOU" with double-middle fingers to goldman sucks as well as congress and the president for doing diddlysquat about it, except for voting to bail them out (with our money)[}:)]


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[Frau_Blucher]

Come on Feds, ignore the proletariats and hurry up and bail 'em out. They're being a drag on my JP Morgan stock which is up about 150% since I bought it.

[randy]

They are fuckwads that need to go away.

[MARV]

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http://www.huffingtonpost.com/2010/04/2 ... 49541.html

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[SallyLightfoot]

I thought this was interesting/informative:

[b]<a href="http://www.ritholtz.com/blog/2010/04/10-things-you-dont-know-gs-case/" target="_new">10 Things You Don’t Know (or were misinformed) About the GS Case</a>[/b]

I particularly liked the quote [i]"Why don't you pour yourself a tall glass of STFU and go sit quietly in the corner?"[/i] and anticipate using that for djcraig or motors in the future. [:D]

[Frau_Blucher]

The article seems like it's aimed at that pompous ass Zakaria. I would guess that the truth is somewhere inbetween.

[SallyLightfoot]

[quote][i]Originally posted by Blir[/i]
<br>The article seems like it's aimed at that pompous ass Zakaria. I would guess that the truth is somewhere inbetween.[/quote]Yeah, I find investigations difficult to predict. It's like watching a game of poker, but you don't know the strength of anyones hand. I remain skeptical that Goldman will be seriously affected by this. I have a lot of neighbors who work on Wall Street, and it's interesting that their hatred of Goldman seems more like [i]envy[/i] to me. Goldman was doing the kind of unethical stuff that was virtually systemic on Wall Street-- they just did it better than most.

[coop41]

[quote][i]Originally posted by SallyLightfoot[/i]
<br>[quote][i]Originally posted by Blir[/i]
<br>The article seems like it's aimed at that pompous ass Zakaria. I would guess that the truth is somewhere inbetween.[/quote]Yeah, I find investigations difficult to predict. It's like watching a game of poker, but you don't know the strength of anyones hand. I remain skeptical that Goldman will be seriously affected by this. I have a lot of neighbors who work on Wall Street, and it's interesting that their hatred of Goldman seems more like [i]envy[/i] to me. Goldman was doing the kind of unethical stuff that was virtually systemic on Wall Street-- they just did it better than most.
[/quote]

Exactly, I find it humorous that this weeks' whipping boy is being treated like they were the only one doing something wrong. The naivete of some people to want to pin things on one group, meanwhile, plenty of other companies were doing the exact same thing, probably to the benefit of many of the people who are judging them now and acting appalled. This too shall pass, probably within weeks, when they can dig into something much more crucial like trying to determine if any baseball players used steroids 5-10 years ago. Yawn.

[SallyLightfoot]

It's twisted-- it's as though they aspire to be like the people they despise the most. Like a banana republic-- where the popular view of democracy is that everyone should have a shot at being the next dictator.

[MARV]

[quote][i]Originally posted by Blir[/i]
<br>The article seems like it's aimed at that pompous ass Zakaria. I would guess that the truth is somewhere inbetween.
[/quote]

Speaking of Zakaria, I thought there were some interesting points raised in this panel he led yesterday:

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[coop41]

WSJ has a great article today on derivatives, and I realize 99% of people have no clue what they are (And I won't pretend to have anything but a very generalized sense of how they work and that is because of a 25 year morttgage career) but they raise some interesting points on why derivatives are not the bad guy.

[MARV]

[quote][i]Originally posted by coop41[/i]
<br>WSJ has a great article today on derivatives, and I realize 99% of people have no clue what they are (And I won't pretend to have anything but a very generalized sense of how they work and that is because of a 25 year morttgage career) but they raise some interesting points on why derivatives are not the bad guy.
[/quote]

I'd love to read it. Can you find out the link and post it? Thanks [:)]

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[coop41]

[quote][i]Originally posted by mar¡Ì[/i]
<br>[quote][i]Originally posted by coop41[/i]
<br>WSJ has a great article today on derivatives, and I realize 99% of people have no clue what they are (And I won't pretend to have anything but a very generalized sense of how they work and that is because of a 25 year morttgage career) but they raise some interesting points on why derivatives are not the bad guy.
[/quote]

I'd love to read it. Can you find out the link and post it? Thanks [:)]

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[/quote]

Damn, making me do all the work. now mind you, i'm not saying i agree with the article but it does raise some intersting points.

http://online.wsj.com/article/SB1000142 ... 08494.html