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F*** GS
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Trend Following Systems Available | All Michael Covel Books
November 2nd, 2009 at 11:49 pm
It’s disgusting! Out right fraud!!
Unfortunately GS has their “moles” very well placed within the US government. So there is little chance they’ll be asked to pay for their misdeeds!
November 3rd, 2009 at 4:19 am
- They never forced anyone to buy
- GS are free to say what they want about what they own
- No one knows the future, why should we assume that GS knows the future
- If buyers can’t sense the market tone, they don’t deserve the money they lost
- Why do people look at GS or others for advice to buy? Either lack of confidence or simply incompetent in this field which means they shouldn’t buy into it in the first place
You can’t blame the fireworks shop for injuries caused by their product because you were careless.
November 3rd, 2009 at 9:40 am
I have no problem with GS betting against housing even while it peddled mortgage securities.
What I do have a problem with is GS demanding that a $20 billion counterparty be bailed out to the tune of $80 billion.
Demanding to become a bank holding company so they can “borrow” from the Fed, despite the fact that, a year later, they still don’t have deposits.
Receiving FDIC guaranteed financing to the tune of $25 billion.
November 3rd, 2009 at 11:13 am
They were bailed out by the government in a very non-capitalist action. If not, they are a footnote today.
November 3rd, 2009 at 1:31 pm
So basically when they were telling everyone they were losing money, they were secretly making money, got a nice bailout from the government, and people think this is legit? This sounds like fraud to me.
November 4th, 2009 at 12:06 am
Yes - Fraud it is!