Comments on: Chart of the day, Goldman Sachs edition A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: HBC Wed, 19 May 2010 17:51:29 +0000 If Goldman hasn’t already prepared absolute exit strategies, they’re not half as smart as they’ve been given credit for. BofA meanwhile can only hope their turn in the dock doesn’t come too quickly after Lloyd’s, because come it will.

By: longandshort Wed, 19 May 2010 04:50:06 +0000 Windfall profit from selling the swap desk?

First, we need to distinguish between credit default swaps and interest rate swaps.

Without access to the federal tit, the GS credit default swap desk/books have about as much value as a toxic waste dump. It is knowing that they can dump the losses on the taxpayer and look for the federal government to take out the competition that allows GS to proclaim that they are the greatest traders in the world.

The interest rate swap desk/books probably are worth a little more but again you are talking about traders on training wheels. Traders who have never, ever risked a dime worth of their own capital — only shareholder money and then taxpayer money.