Discussion in 'Wall St. News' started by Banjo, May 27, 2010.
What a shocker! Not!!! :eek:
Actually, it IS quite a shocker
The keyword is retroactively.
As everyone, who listened to the recent "Goldman" enquiry, knows banks tend to offer depreciating positions in over-the counter (read "impossible-to-value") securities to more "naive" clients.
What is not common knowledge is in some cases they may be able to assign loosing positions to client portfolios retrospectively.
notice you can't get this kind of interview on CNN or FOX
RT is foreign TV and they allow it.
Regardless of RT obviously likes to air dirty US laundry. Still we as citizens have a right to be informed.
"Biggest non-state threats - Al-Qaeda and...Goldman Sachs" !!
The Mark to Market fallacy is alive and well at Goldman...
Read "The Big Short"...
In sum, Michael Burry had his positions marked against him for over 2 years. So obviously joe mutual fund nor most hedgies could hold these CDS' which lost value each day until achieving their massive returns...
Separate names with a comma.