Comments on: Goldman still puzzles

By: Tony NSW

Tony NSW — Mon, 29 Jun 2009 21:24:29 +0000

Having read about Goldman, it leads me to wonder about the reliance investors (and thus everyone) have on the morality of corporations. What accountability measures could police the complex modern mega corporation? Perhaps only laws barring complexity and the vastness of firms.

But back to the morality issue, Maddoff has copped 150 years but it is really likely he is just the the sacrificial lamb, is the reality that Madoff’s fraud reflects the more conventionalfraud yet to surface while the stimulus papers over the cracks on Wall St.

By: FVM

FVM — Fri, 26 Jun 2009 16:10:41 +0000

Does anyone know where I could find this list of Goldman’s subsidiaries? I do not know where to look for the insurance company’s regulatory filings. I would like to actually take a look at all of the subsidiaries they have!

By: DR

DR — Fri, 26 Jun 2009 15:38:24 +0000

“there’s so much hidden from plain view that investors can never really know all the risks”

I’ll paraphrase Warren Buffet; “Don’t invest in what you can’t understand”.

Smart money(Goldman) needs dumb money(Joe shareholder/taxpayer) to leverage with. Refuse to play this game….

By: middyfeek

middyfeek — Fri, 26 Jun 2009 13:17:33 +0000

Ditto on the Taibbi article. It’s the single best thing I’ve read about this whole mess.

By: Anubis

Anubis — Thu, 25 Jun 2009 23:21:02 +0000

Goldman Sachs has engineered every bubble since 1991. And to their own advantage. They have leveraged stock in excess of 50 to 1 and horded crude oil in takers off the Mexican coast. Goldman sold mortgage securities they new were garbage and hedged the gamble with CDSs from AIG. John Kenneth Galbraith cites similar fraudulent actions in the 1920s as the underlying cause of the Stock market collapse and banking failures leading to the Great Depression.

For those readers looking for a more honest look at Goldman Sachs over the past 80 years I highly recommend reading Matt Taibbi’s essay in the 6-23-09 issue of Rolling Stone.