Here's an interesting article from the International Herald talking about how Goldman steered clear of the past few month's problems in the mortgage industry: http://www.iht.com/articles/2007/11/18/business/goldman.php Reason I'm posting this is because I've read in the past people are saying Goldman must have cooked their books.
what about the fact they took fees from all the customers and clients and advised them that all these deals they were selling to them would make a fortune with a little risk. i bet they didnt tell them they were taking the opposite view, the other side of the deal and shorting the market that their own customers were going long in. sounds like snake oil salesmen that wont drink their own medicine. goldmans so smart. just about ripped off their entire customer base. nothing smart about that. im surprised these investors do business with these tossers.
why not. it is human nature to deal with thieves in white shoes. people like to believe they are part of an exclusive club if they are a customer of goldman. why wasn't it smart of them to rip off their customer base. the base is not going to disappear anytime soon.
message to everybody - show some self respect. never defend those bunch of cocksuckers at goldmans. they dont trade they rip people off. they have about as much trading skill as a drunken monkey. am i jealous - no. ive got too much self respect. and i can look myself in the mirror and say my money has been earnt by hard work.
Goldman Sachs' tendrils reach into every nook and cranny of the corporate and political worlds. Their 'alumni' (read ongoing associates) even head central banks. GS is perfectly set up to play a crooked game so why wouldn't they? They even cover their bets by funding every candidate ( from both U.S. parties ) who has any possibility of conning the American people into believing that s/he will make a good president. When it comes to mega-swindling, if it can be done it is done. Somebody would blow the whistle? Maybe somebody will. In the meantime there are a million ways to pass on information in ways that can't be traced. America is not a democracy; it's a plutocracy, and it's owned and operated by crooks. End of rant. Have a nice day.
Oh come on, if Goldman was the other side of those trades, they assumed just as much risk as the customers did on the buy side. It's not about kissing on Goldman, they just made good trades at the time. Nothing more, nothing less.
Nice rant - most people are blind to this - nice "Wall Street" reference at the end. The last 20 years in corporate America's history actually proves your point. People will do whatever they can get away with, no matter how illegal, immoral, or unethical. Its the richest few that commit the largest larceny. Let's see, LTCM, TYCO, ENRON, entire subprime debacle, and that's just a few of them. What's that other "Wall Street" quote....oh yea...."Greed is good"....right?