Do you think that things will change if Geithner goes? You must be out of your mind. Only on Elitetrader...
The worst thing is GS would have folded had Timmy called their bluff... Just look at the terms Buffet shoved down their throats...5b in perpetual preferred stock with a 10 % dividend, callable at anytime with a 10% premium. That shows how desperate they were to shore up the ol' balance sheet Make no mistake, Goldman were in deep shit...had AIG gone tits up it would have forced them into bankruptcy.
I dont think I'm out of my mind however, Goldman Sacs has a broken model and it can only survive with government help. This government is not going to be able to tolerate a another slush of funds. So do i think things will stay the same;with a replacemnt for Geitner? I think something is brewing around the country and the government and people like you are underestimating what is happening to people. What is happening is unusual. People who have never had to worry about money are out of work without compensation packages and are really struggling. The unethical behavior of politicians that has gone on and gone on among ordianary citizens and the politicians is a broken model. Things are really a problem for alot of people. OBama, Geitner and many others are totally out of touch with the American people. Many of obama's supporters are out of work what do you think is going to happen if they don't get a job before June of 2010! June is Geitners guess when things will start to change! Seriously, don't you think that is going to be a problem! How many can day trade is all I'm thinking? I dont think they will have any money by the time they realize they could.