Great, great article about Goldman-Sachs at The Big Picture. Thanks to Looney Canuck for the heads up.
God I love when people lead me to good stuff.
One way to look at what they did is to look at how recipes for food products can be bastardized. For example, stating you're olive oil is 100% Italian but take 20% from Tunisia and 10% from Turkey because it's cheaper and widens your margins. It "is" 100% Italian - if you consider just the Italian part. It also happens with hamburgers, wine and anything you care to add.
GS did the same with all their junk and hedge games. I don't think much of any argument defending GS can be made (I think) but I still think the government playing the "I can't believe it" line is a bit rich considering how close in bed they were with these dudes.
Just another night on Wallshington St.
Speaking of typical nights with these old dudes:
No comments:
Post a Comment
Mysterious and anonymous comments as well as those laced with cyanide and ad hominen attacks will be deleted. Thank you for your attention, chumps.