I worked with GS people uncountable times and most struck me as being ethical, intelligent, collegial, and resourceful, as far as market makers as trading partners concern. I made money off a lot of trades that were executed via GS (you dont need to believe any of this as this is not the core point) and I was comfortable having drinks after work with the same people which function as my counter party throughout the day. Why I support GS is because I think its ridiculous to single them out and scapegoat them for this mortgage mess. Its outrageous GS has to sit in a hearing to answer questions about the mortgage market while no other firm was grilled like that, firms with a multiple of mortgage trading volume. If every pupped in here would be picking on Lehman or Bear or Countrywide then I would not feel obliged to chip in. Did I satisfy your seemingly unquenchable thirst for why I participate in this thread? P.S.: I am a guy, homosexuality does not exist in my culture
Hmmm, this will be interesting. Just watching him and thinking, jorno's and the prosecutors would just love it if they pressured him enough to turn on GS. Feel sorry for the Guy.
He actually answered one question noting that he "is not aware what Wall Street ETHICS actually are." LOL ! hahahahahah....too funny
Crookedness exists on Wall Street. But I don't see what Goldman did wrong in this particular situation.
A lot of questions are politically motivated and have nothing to do with the case de jour. The question remains whether it is ethical to bet against your own customers...
And then things get even messier when trying to distinguish between betting against your own customers, and hedging risk.
Sparks sent an e-mail about structuring products and congratulating co-workers for selling off inventory to clients and making lemonade out of their (GS') lemons. Not a great e-mail, but these kind of things always end up coming up..
Why GS ? Are they the only financial entity that takes opposing positions with their customers? Whenever I see a dog and pony show like this I automatically assume the politicians are only posturing for political gain. Nothing will come of this since they (GS) are deeply embedded in the Obama regime.