NEW YORK (TheStreet)-- Washington Mutual (WAMUQ.PK)'s former CEO, Kerry Killinger, rejected the idea of hiring Goldman Sachs investment bankers in 2007 because he feared the bank would exploit sensitive information to trade against WaMu, according to an e-mail disclosed by a Senate subcommittee on Tuesday. "I don't trust Goldy on this. They are smart, but this is swimming with the sharks. They were shorting mortgages big time while they were giving [Countrywide Financial Corp.] advice," Killinger wrote in an email dated Oct. 12 2007. http://www.thestreet.com/story/10724618/1/wamu-ceo-feared-goldman-sharks.html
Who cares about these investment banks? They're speculators. But with enough cheddar and connections to game markets. Retail and independent speculation keeps markets tight and well-priced. Institutional speculators backed by Trillions in Fed liquidity and Government shills distort and RIG markets. Fuck em. Goldman is a cancer that does nothing for America.