Goldman On Banks' Exposure To The Greek Restructuring, Pardon, "Liability Management Exercise"

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Thu, 04/21/2011 - 07:12 | 1191704 FOC 1183
FOC 1183's picture

what a joke.  is Francesco  related to Elaine?

Thu, 04/21/2011 - 07:51 | 1191747 jus_lite_reading
jus_lite_reading's picture

Good work TD on finding this POS... Errr I mean Piece de Resistance from Goldmotherfuckin Squid. Don't worry Lloyd, Tyler's doing God's work now.

Thu, 04/21/2011 - 07:22 | 1191711 Catullus
Catullus's picture

"Let's try not to cause a bank run from giving the giant fuck you to the secondary market."

Thu, 04/21/2011 - 07:21 | 1191713 Doubleguns
Doubleguns's picture

"liability management exercise" = Our congress

Thu, 04/21/2011 - 08:49 | 1191870 A Man without Q...
A Man without Qualities's picture

"credibility management exercise" = Our congress

Thu, 04/21/2011 - 07:26 | 1191720 Josephine29
Josephine29's picture

As ever Goldmans waffle on and do their best to ignore reality and by contrast this was put well here.

As we approach Easter 2011 I thought it was time to look for some perspective and so I looked at the situation on Easter 2010. The Greek two-year goverment bond yield was 5.79% and the ten-year was 6.53% in what was already something of a crisis. Last night they closed at 22.07% and 14.87% respectively and the changes are rather eloquent about what has happened over the past year. When you consider the capital employed by the Euro zone then the inversion of short yiled which now way exceed longer ones is analagous to a football goalkeeper catching a shot but then in an attempt to start his own teams attack somehow throwing the ball into his own net.


And yet Goldmans say crisis what crisis...

Thu, 04/21/2011 - 07:50 | 1191745 Snidley Whipsnae
Snidley Whipsnae's picture

Lest we not forget: GS helped the Greeks lie about their finiancial situation which allowed Greece entrance to the EU.

Thu, 04/21/2011 - 07:52 | 1191750 jus_lite_reading
jus_lite_reading's picture

Exactly, and that is what makes this especially even more ironic. Doing God's work is hard work. You can't lie all the time... unless you're a Goldman Squid

Thu, 04/21/2011 - 08:41 | 1191842 youngman
youngman's picture

and you can bet the GS boys are selling this junk to their clients...."its AAA...really it is" 

Thu, 04/21/2011 - 09:21 | 1192008 DavidC
DavidC's picture

There are times when your dry with almost reduces me to tears! Hilarious!


Thu, 04/21/2011 - 13:04 | 1192848 jmc8888
jmc8888's picture

George Carlin would be proud

shellshocked -> battle fatigue --> Post traumatic stress disorder

handicapped --> handicapable

I guess

Screwing everyone over through fraud ---> God's work

What we need

Glass Steagall (1933) --> (weakened Glass-Steagall) --> CFMA --> (future: 1933 version of Glass-Steagall)

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