Who would clear through these guys now?
GS now in the 60's, hoping to avoid the "LEH death spiral"
- Thread starter wilburbear
- Start date
CNBC just said "we could be seeing the end of Goldman Sachs".
Not funny - just reality.
They've known the extent of these extensive worthless positions they've held for more than a year. Gov should've let them fail. They would have come clean real quick and wrote all that bad assets down, industry consolidated and by now be stronger than ever.
GS - the last holdout - simply hid the same crap on their balance sheets longer than the rest. . .giving the <i>perception</i> that they were still strong - all the while HOPING these would return a small value.
FAT CHANCE - down you go you government-feeding, citizen-pilfering crooks!
pay$
They've known the extent of these extensive worthless positions they've held for more than a year. Gov should've let them fail. They would have come clean real quick and wrote all that bad assets down, industry consolidated and by now be stronger than ever.
GS - the last holdout - simply hid the same crap on their balance sheets longer than the rest. . .giving the <i>perception</i> that they were still strong - all the while HOPING these would return a small value.
FAT CHANCE - down you go you government-feeding, citizen-pilfering crooks!
pay$
I've said this for a long time, while most of the ET sheeple just worship Goldman. All it takes is some brains and the ability to look through a financial report.
However, don't make judgements too quick. The real brains behind Goldman have long made moves that were designed to let this collapse happen. They have been taking these "profits" and moving them into other entities which in turn have been buying up infrastructure assets.