Investment banks were among the ones that had to compensate their customers to the tune of tens of billions, because places like UBS were pawning off the toxic assets on their own customers till the bitter end. I worked at a couple of investment banks and interviewed at a couple others. I trained about 110 new financial analysts, managers and IT types, as part of my role and then introduced them around the dept to the others. You would be amazed how many times they knew one another from previous IBs. It is a very small world. These companies cross pollinate all the time, so it is same attitude, different place
People are not dead yet so they all have to shop and eat. Why don't you go to a Ford or GM dealership? Or go to a Lennar new home community.
I've been to CostCo a few times over the last few months as well as today. I have never seen it as quite in this period in all my time shopping there over the last 5 years. Today everyone was buying for Thanksgiving and it looked even quieter than a normal Saturday before this great Depression II.
Now that GS is become a holding company, how can the stock price go reach the highs again. They cant over leverage to make huge profits the way they used to. GS can not make as much money as before. GS will never be the same again.
The Investment Banks have been found out and Goldmans is the last great beast to be felled. Full marks to their marketing dept for making us believe that they were something special and weren't mired in the same shit as everybody else. It's interesting the way that they nosedived after Buffet invested. Is this the effect that the Muppet from Omaha has these days?