Quote from the1:
You won't be able to reason with the guy. He still thinks GS was well capitalized last year, would have survived the collapse of the entire system, and was forced to convert to a BHC. They were also forced to give Buffett 10% preferred with $115 warrants.
Then there is the trillions of undisclosed lending from the Fed last year. If we were to learn the details of that program GS would probably be on the top of the list. Naturally, I can't provide evidence they were. It is pure speculation on my part but what better way for the Fed to unwind its balance sheet than for GS to generate massive, record-breaking profits and pay them back to the Fed through masqueraded bonuses. Whoa! Did I just stumble onto something?
Let's get to the bottom of it right quick. A full scale audit of the Fed. Until then, GS will be thought of as the biggest recipient of Government Subsidies. If the Fed had nothing to hide they wouldn't be so opposed to the audit. Independence my ass.