Goldman's Going Down?
So let's get this straight. Goldman executives have a long history of holding public office. As part of holding public office they are required to divest their holdings. Therefore this means Goldman is going down? Hmmm....
Goldman is a hedge fund masquerading as an investment bank. As such it is always possible it will go down in flames. That said, the previously articulated arguments provide little insight into this apparent eventuality. Now if Paulson were going to a rival bank, that would be a story. But taking the position as Secretary of the Treasury just makes him no different than Robert Rubin and Jon Corzine.
On a related note, Goldman was pounding the table on the virtues of holding commodities as an asset class long before it was fashionable. It would be quite ironic if they went down due to trading losses incurred on bets made on commodities given the prior author's stance on commodities.
Goldman is a hedge fund masquerading as an investment bank. As such it is always possible it will go down in flames. That said, the previously articulated arguments provide little insight into this apparent eventuality. Now if Paulson were going to a rival bank, that would be a story. But taking the position as Secretary of the Treasury just makes him no different than Robert Rubin and Jon Corzine.
On a related note, Goldman was pounding the table on the virtues of holding commodities as an asset class long before it was fashionable. It would be quite ironic if they went down due to trading losses incurred on bets made on commodities given the prior author's stance on commodities.
posted by Odoacer at
11:46 PM
4 Comments:
Do you not think that I realize that Goldman has always been a government affiliation, i.e John Bolton, Rubin, etc? None of those guys ever changed a law in order to remove all of their assets from their former employer though, and I am not saying that this is a piece of evidence but rather a complementary supporting note. I have done my due diligence and know that the company is short $10 billion plus from the gold carry trade. In addition, professor Mello, a former high ranking Goldman executive, outlined to me in privacy what type of situation they are facing. Remember, if I would have made the same claim in 2000 about Enron I would bet you would have a similar response. But maybe you are right, we'll wait and see.
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God damnit Ben.
Of course, Enron was a fraud. But they're absolutely the same.
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