Gotta say this Paulson plan is pure crap. Just like Greenspan creating the problem was pure crap. Who profits?
Let me make one thing perfectly clear............. Stein was a speech writer for Nixon. Sure was. Some consider those the wonder years. And the last truly bear market. As for Goldman (not to be confused with O.J. Simpson's murder), both the Governor of New Jersey and the third Secretary of the Treasury under Bush (not to be confused with Laura) are GSCO alumi. Buehler.....................................Buehler...................................Buehler..............................Buehler.
What GS wants they get...DOn't forget the head of the NYSE ( Thain) was a GS man....all he did was effectively close the NYSE Floor and get rid of all the traders and now they combined it with the NASD to create the giant FINRA that will only benefit the five largest firms
Wall Street has accumulated so much power over the last twenty years that they are hell bent on staying in control. They are going to push this system until reality cannot be ignored and then there is going to be a violent capitulation
"Gotta say this Paulson plan is pure crap. Just like Greenspan creating the problem was pure crap. Who profits?" are u kidding me? do u know nothing about what happened with blodget/meeker/grubman? how about paulson's deft political nuke on grasso? the above poster who said "what goldman wants goldman gets" is spot on. "who profits?" did u not read the article? GS is tremendously short and would absolutely make a killing on the trade if that market imploded on itself.
Bingo. However, there are a few players that are out to spite GS. The volatility is going to go through the roof in the first quarter of 08 and while GS is scrambling to cover, well, heh..... there is a group of quants that is going to have some fun.