There was a very interesting article on Zero Hedge the other day. In the data provided, I noticed that Goldman Sachs traded more for their Principal account than the next 14 firms COMBINED. And the next 14 were no slouches . . . Citi, JP Morgan UBS, Credit Suisse, Merrill, Barclays, Deutsche Bank, BNP Paribas, etc.
I mention this because it seems a bit coincidental that the markets have skyrocket during this very same period, and Goldman Sachs' stock price has jumped more than 70% to just about back to where our dear friend Warren Buffet bought in. Their stock prices has more than doubled the performace of any of the US markets!
It's also interesting that this 74% meteoric rise comes when Goldman Sachs has decided to sell stock to pay back the TARP dollars . . . even though they told us they didn't need the money. Obviously, Lord Blankfein, you needed the money because you don't have it to pay back . . . and you don't even have the billions you got from AIG.
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2 comments:
Like Citi, Wells Fargo, the Goldman Sachs, it also inflates the earnings and cooking the books which most the money got from the insurance money paid by AIG for their gambling bet on CDS etc (derivatives). Nothing to cheer about yet. This the beginning of another round of lying, cheating and manipulating. Greedy is as life as usual.
yes, agreed.
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