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More Hypocrisy From Lloyd Blankfein On Charlie Rose

Tyler Durden's picture




 

Just because Goldman refuses to get it, and wishes to inflict even more pain on itself with more and more public appearances, here is Lloyd on Charlie Rose last night. More of the same: "We did well because we had the disciplined hedging [on housing]." Paraphrase: "Thank you Paulson for letting us steal your idea and have our prop book go $10 billion short two months before HSBC and New Century went tits up. Also thank you for reminding us to short hundreds of millions worth of Bear stock." Also, the amount of money put into Goldman by the government was not important for us. Ok Lloyd, please refund all the $2 billion in CDS profits you made by shorting AIG immediately.

And again Lloyd blatantly misrepresents the truth, by saying that doing away with prop trading would only cost the firm 10% of the firm's revenue (so why the massive fight against the Volcker rule?). Forget all this market maker, liquidity provider generic fallback bs and mumbo jumbo. How about some disclosure on just how you classify prop trading Lloyd? Because something tells us that at least 50% of your flow and correlation desk is purely Prop (and certainly serves to bolster prop profits instead of putting clients "first" as we have disclosed about 10 times in the past week alone), as the 901 pages in Goldman discovery make only all too obvious (we will post on that soon). Hey Lloyd, here's an idea - how about instituting P&L stop limits on all your OTC FICC prop trades just like RBS? Oh yes, we'll go there... and in much more detail. Soon.

In the meantime, Goldman will "soul search" as an adjustment for people to "understand that Goldman's fortunes must be aligned with the interests of its client."  We are sure this will take the average Goldman prop trader exactly 2 milliseconds (or longer than it takes a Redi algo to frontrun a flashed block) to begin and end their soulsearching as they take their G-5s to Tahiti for the weekend.

And here is the kicker: "The reason why we get the best people, why we retain the best peopl, is because we get people who are really interested in doing something that they think is good for the public, for the world they are in." At which point, Charlie shoots down the faux nobility with one simple phrase: "Make a lot of money and then go out and do good." Brilliant. And the consumate retort: "most of our people at the height of their careers go into public service" - does the "forced" liquidation of $700 million of Goldman shares just to "serve the public" maybe have something to do with this Lloyd (ref: Hank "Bazooka" Paulson). To be sure they can also buy GS stock... while in possession of material inside information while "serving the public" (ref: Stephen Friedman). Or how about Paulson then going out and making it all too clear, without a shred of evidence, that the collapse of Goldman would start WWIII.

Jesus, Lloyd, don't you understand that the public is not as dumb as you think it is? That even the regular Joe Sixpack can read the hypocrisy behind just that one statement? In that one sentence alone you blow your entire case to appease the public yet again - and you do it over, and over, and over. Stop treating Americans like idiots, and your world tour may actually not be an abysmal failure. Continue to insult people's intelligence, and you will flounder. But then deep down you are a trader at heart, to whom any admission of weakness is suicide, just ask any trader. Which is why this lawsuit could very well be your, your firm's, and Warren Buffet's, undoing. In the meantime, please Lloyd, spare us any more unsolicited TV appearances - we already have "As The Obama World Turns" soap opera everyday to keep us distracted as your "public interest" focused nobility robs this nation blind just so they can buy that 5th private jet. How else will Goldman Sachs Conviction Buy Textron EPS hit new all time record highs.

 

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Sat, 05/01/2010 - 10:53 | 326879 Mitchman
Mitchman's picture

Great post, TD.  What an a**hole.

Sat, 05/01/2010 - 11:29 | 326914 gmrpeabody
gmrpeabody's picture

+1000

Jump...you f**kers!

Sat, 05/01/2010 - 11:41 | 326924 Cookie
Cookie's picture

ditto

Sat, 05/01/2010 - 22:31 | 327443 illyia
illyia's picture

ditto

Just because you deny it doesn't mean it isn't true...

So denial... The endless worm...

Sat, 05/01/2010 - 12:32 | 326986 Oracle of Kypseli
Oracle of Kypseli's picture

"Elfin Bank"

This anagram of his name says it all

Sat, 05/01/2010 - 13:00 | 327013 Oracle of Kypseli
Oracle of Kypseli's picture

Hard to believe guys,

But.. If you were to include Blankfein's first name in the anagram.

You can get:

"Finely Bold Klan"

and

"Idyll Bank Felon"

 

Who would have guessed?

Sat, 05/01/2010 - 14:53 | 327148 Not For Reuse
Not For Reuse's picture

LOL +1 don't forget:

lonely bald fink.. only filled bank.. only bad ink fell.

Solution?

kill felony band

Sat, 05/01/2010 - 21:49 | 327423 I need more asshats
I need more asshats's picture

Looks like Homers boss

http://i42.tinypic.com/vip30m.jpg

Sat, 05/01/2010 - 14:55 | 327150 Dirtt
Dirtt's picture

And Charlie Rose is a freakin Bilderberg Whore.  Nothing but a WHORE!  Why we need NPR when we have GE's family of media WHORES is something hard to justify.

Justify?  What am I thinking?  When did justice ever matter? Ahhhh. When "social justice" became synonymous with phucking over America.

Sat, 05/01/2010 - 10:53 | 326880 Kayman
Kayman's picture

So in the biggest short of all, the Giant Squid shorts the Giant Squid. We win, we lose, we win, we lose....  Hey Blanky, if we short ourselves, do we have an ethics problem? 

Sun, 05/02/2010 - 18:08 | 328242 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Let us ask "The Producers"!

Sat, 05/01/2010 - 11:13 | 326902 casino capitalism
casino capitalism's picture

You are absolutely right that they are going to lie about what constitutes prop trading.  And it will be easier for them to get away with that since there has been a general trend away from separate prop trading desks to incorporating the prop positions in the flow desks.  I think the best way to deal with it may be to look at position aging.  Any position owned for more than say one week is automatically a prop position and all p/l on it should be classified as such (you could really argue anything over one day is prop).

This is the very same garbage arguments as they have been using in the commodity markets classifying commercial vs. non-commercial to get to a very narrow definition of speculation.  Most all the fund investing has been conveniently classified "commercial" because they do it through the commercially classified banks (and have therefore avoided all position limits).  And we all get to pay more at the pump because they won't fix it. Just one more con job.

Sat, 05/01/2010 - 11:14 | 326903 QuantTrader
QuantTrader's picture

Way to go boss!  Lloyd is a real American hero.  Fcuk GI Joe.

Sat, 05/01/2010 - 11:14 | 326904 Rainman
Rainman's picture

If you were drowning in a sea of subpoenas, would you want Lloyd to be your " out front guy " ??

Video and audio both hate him.

Sat, 05/01/2010 - 20:51 | 327015 Problem Is
Problem Is's picture

"Would you want Lloyd to be your " out front guy " ?? Video and audio both hate him."

HILARIOUS!
Is it the gleaming, sweaty bald noggin? Or the whining Morey Amsterdam voice like a mosquito in your ear?

Who would ever have thought you would be better off with Cramer the Clown out front...

This is like the Mr. Andrea Mitchell aka "Crazy Chester" Greenspan rehab tour...

Sat, 05/01/2010 - 23:35 | 327494 mudduck
mudduck's picture

Face made for radio, voice made for a dancer.

Sun, 05/02/2010 - 00:25 | 327521 merehuman
merehuman's picture

mudduck, great comment. lol

Sat, 05/01/2010 - 11:14 | 326905 doublethink
doublethink's picture

 

Justice Casts A Wider Net

 

The Justice Department's criminal investigation into Goldman Sachs goes beyond the financial transactions targeted by the Securities and Exchange Commission in the civil fraud suit brought against the firm last month, law enforcement sources said Friday.

 

http://www.washingtonpost.com/wp-dyn/content/article/2010/04/30/AR201004...

 

Sat, 05/01/2010 - 15:16 | 327176 Ned Zeppelin
Ned Zeppelin's picture

SEC civil suit the deep fried calamari appetizer with lemon aoli, then the pan-roasted cephalopod ala DOJ with fennel and blood orange for a main course.

Sat, 05/01/2010 - 11:24 | 326911 QuantTrader
QuantTrader's picture

Read it and weep.

http://twitpic.com/1jp3tp

Sat, 05/01/2010 - 12:32 | 326985 SRV - ES339
SRV - ES339's picture

Hey "Comfortably Smug"... my septic tank needs to be cleaned out... it pays $8/hr... the job's yours if you can do it next week!

 

Sat, 05/01/2010 - 13:31 | 327060 JW n FL
JW n FL's picture

The argument floating around to the help... Bank help, is Trickle Down Economics? http://en.wikipedia.org/wiki/Trickle-down_economics 

 

Our money is your money? More like keep dreaming and wishing you had some money, thusly stay in line…

 

I tip 100%, if I like my service... I will never, fucking ever wash my own car. I forget the rest of the bullshit… But what does this have to do with reigning in the idiocy that abounds on WallStreet?

 

The Public Relations war is and has been poorly fought on behalf of the idiots for both sides…  WallStreet   v.   The Sheepeople

 

With regard to the upper class kicking the middle class down the ladder, more than a few rungs... I say that when Bush pulled the monies out of the Federal Programs, which allowed the 50 to 1 leverage to become the stressor that all the Bank shorts where successfully predicated on... that the people most hurt where not the equities players... the people most hurt where those sheep that bought absolute return(s) of 6%.... those AAA rated CDO's where parsed into risk adjusted absolute return vehicles and thusly sold to then idiot Sheepeople... that’s who got hurt...

 

What was the recorded income of absolute funds Globally? How much of that income was dependant on some type of Bond with a rating? and how much was washed away in the Black Swan / Short Flood of 2007? 30%? 40%? 50%?

 

The pumped markets that were over sold at the minimum and fraudulent, manipulated poison pills at the worst... where sold with the right terms... to the right people... disposable income requirements where met...

 

I guess the point I am trying to drive home is that the upper has already displaced the middle... between losing 30% - 50% of the paper wealth accumulated... and then having the Fed go on a printing spree... now add 0% interest... like I said the upper has already replaced the middle.

 

“Trickle Down Economics” works for me... I don’t know how it will work for most other people though?

 

Sat, 05/01/2010 - 14:35 | 327128 jm
jm's picture

Many would be surprised at the fewer numbers of new quants are coming into Wall Street. 

It's not completely about money.  The element of doing something new and creative is a big draw too.

Everything increasingly looks like it will be highly regulated and cookie cutter. 

Sat, 05/01/2010 - 20:52 | 327391 Transor Z
Transor Z's picture

Marvelously solipsistic little rant. Author assumes the skill set of being a complete douchebag is portable to all other sectors of the economy.

Sat, 05/01/2010 - 20:55 | 327393 Problem Is
Problem Is's picture

"Read it and weep."

Great... now all the 3rd graders the ex Wall Streeters will be teaching  will know how to securitize mortgages and naked short sell while snorting cocaine off of the tits of pole dancers...

Sun, 05/02/2010 - 18:13 | 328247 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I for one AM long baseball cards.

Sat, 05/01/2010 - 11:30 | 326915 DMA Trader
DMA Trader's picture

The presumption of innocence – being considered innocent unless proven guilty – is a legal right that the accused in criminal trials has in many modern countries

Tyler where are you from ?

In your country every man that has a civil or criminal charge is already guilty ?

 


Sat, 05/01/2010 - 11:52 | 326942 anony
anony's picture

"Any man who admits to nothing but that which can be plainly demonstrated may be certain of nothing but perishing.  Quickly".

(j. locke)

Sat, 05/01/2010 - 13:48 | 327080 JW n FL
JW n FL's picture

This case... http://www.sec.gov/news/press/2010/2010-59.htm

 

…is brought against Abacus number "15" of 18 to 20? (don't hold my feet to the fire on the exact number and the order, please)

 

So, number whatever out of 20(ish) Abacus deals that where closed... this abacus is one of the very few that did have a Risk Manager who did pick the bundled Mortgages that where to be purchased… most of the other deals did not have a risk manager who did select the Mortgages aloowed or not allowed, is my understanding.

 

So, Paulson pays $15 million dollars to Goldman to provide a mortgage  bundle… the customer who picked Paulson and Company as their representative, did sign off on the 3rd Party Risk manager who was charged with picking the quality and type of mortgages.

 

So, Paulson had a client… who did ask Paulson and Company to provide said client with an Abacus package? The Client, who did retain Paulson… who retained Goldman… who then put forth for said clients approval a 3rd party risk manager?

 

The best part… the part that no one can get around on court or otherwise (with this cherry picked case) is that the 3rd Party Risk Manager bought over $800 Million dollars of the deal… the person suing, has a minor position of a little over $100 million dollars…

 

So, the client… who did hire Paulson… who did pay Goldman… who did provide a 3rd Party Risk Manager… who did sign off on the  5th, 6th,7th  or latter version of the Bundled Mortgage / Multiple Bond package… now would like Goldman held accountable strictly?

 

Just Goldman and no one else. No one else shorted? Paulson? This case is a farce. This case is for public consumption, strictly. There is nothing to it, except a circus atmosphere.  

 

Sat, 05/01/2010 - 14:48 | 327145 Dirtt
Dirtt's picture

Shhhh.  You can not ask real questions brother.  That's why God's worker was being interviewed by The Bilderberg Whore Charlie Rose.  Mr. Blank Stare When It Comes Time To Ask Something Pertinent.

Sat, 05/01/2010 - 15:19 | 327177 Ned Zeppelin
Ned Zeppelin's picture

Only the universally reviled and manifestly guilty.

Sat, 05/01/2010 - 11:40 | 326917 Pure Evil
Pure Evil's picture

I hate to be the contrarian in all of this, but since all the worlds a stage, and all the men and women merely players, someone has to play the part of Master Criminal.

We've had Caligula, Nero, Napoleaon, Hitler, Stalin, Mao, Pol Pot, and now Blankfein. I'm not sure whether Blankfein fits the role of the Joker or the Penguin in Gotham City.

I guess he's so proud of what he's accomplished he finds it rather difficult to realize that not everyone thinks he's the greatest person in the whole wide world.

I hate to say it, but Blanky, that's Obama's biggest delusion.

Sat, 05/01/2010 - 11:41 | 326925 Mitchman
Mitchman's picture

+10.  Particularly the Obummer part.

Sat, 05/01/2010 - 11:48 | 326935 Big Al
Big Al's picture

Definitely the Penguin.

Sat, 05/01/2010 - 11:49 | 326936 anony
anony's picture

You're right.  Absolutely.  Lord Blankfein isn't a hypocrite.

He's a cheating, lying, mealy-mouthed, blackhearted, zionist mother-fucking bastard who is lucky to still be walking upright.

How's that freedom internet thing for ya, man?

Sat, 05/01/2010 - 12:00 | 326952 DMA Trader
DMA Trader's picture

I'm not even going to bother answering to a frustrated individ. 

Who probably blame insucces in his live. on other people. 

 

 

 

Sat, 05/01/2010 - 12:05 | 326959 nope-1004
nope-1004's picture

Already pleading the 5th?

 

Short, bald, spineless MOFO.  You know damn well what state your firm is in, and it is totally supported by us.

You're welcome Lloyd!

 

 

Sat, 05/01/2010 - 13:48 | 327081 DMA Trader
DMA Trader's picture

Why do you people blame succes. Why is not those who failed get the blame.

Why do you guys always envy the best out there. 

Sat, 05/01/2010 - 18:53 | 327314 DaveyJones
DaveyJones's picture

You're right, everyone envies the rapist. As long as you get the girl.

Sun, 05/02/2010 - 06:07 | 327627 Miles Kendig
Sat, 05/01/2010 - 13:04 | 327027 Fish Gone Bad
Fish Gone Bad's picture

"Who probably blame insucces in his live." - Please explain what this phrase even is.

Sat, 05/01/2010 - 13:35 | 327070 lizzy36
lizzy36's picture

Just a thought, perhaps you don't comment much because you are barely literate?

At this juncture, one believes it would be appropiate to inquire if you know the difference between a pseudonym and a nickname?

I think not so much DMA trader as TD Greenline phone operator. 

Sat, 05/01/2010 - 14:49 | 327146 Missing_Link
Missing_Link's picture

Who probably blame insucces in his live.

What the f*** are "insucces"?  Is that sort of like "insouciance"?

Sat, 05/01/2010 - 13:31 | 327061 Commander Cody
Commander Cody's picture

I agree with TD.  Lloyd is a fantastic hypocrite.

Sat, 05/01/2010 - 12:06 | 326960 Cognitive Dissonance
Cognitive Dissonance's picture

Did you just wake up and decide to piss all over everything or did someone hijack your ID and avatar? What prompted you to suddenly start posting after 37 weeks?

Let's see, you posted on one article 37 weeks ago, then one article 35 weeks ago, then you go into hibernation only to come out 10 weeks ago to comment on two articles, then one article 5 weeks ago and then suddenly, you burst upon the ZH community with 6 articles a week ago and now 2 in 12 hours.

Come on, you can tell us. You're a zombie and your brain is mush, right? I thought so.

Sat, 05/01/2010 - 12:43 | 326996 DMA Trader
DMA Trader's picture

I get this question from time to time. 

People seems to think. who ever talk most is the clever one. 

So you got hundreds of comments here in the same time. 

Does that make you more wise. ? 

I prefer to listen more than to talk. 

Do you have time for something else in your life instead of just commenting articles all day long ? 

 

Sat, 05/01/2010 - 12:08 | 326965 Nout Wellink
Nout Wellink's picture

called some one Like Loyd Blankfein a hypocrite.

Hi Lloyd, do you have a problem with that?

Sat, 05/01/2010 - 12:18 | 326976 Cheeky Bastard
Cheeky Bastard's picture

Priceless, absolutely priceless.

If you denote your value as an individual to your bank statement i really feel sorry for you since you are, obviously, as worthless as is the money you equate your value with. I really really do. You are a FIAT individual; a body with no valuable basis. I could buy 95% of GS employees X times over and not blink an eye, but that is an illusion. Your whole world is an illusion and you are a blind man walking across the land of eternal darkness. Cars, houses, whores and mountains of cocaine will get you social status you so much crave for, like a fly craves for another piece of shit to feed itself upon, but it will not give you value or even remembrance which is the ultimate goal of selfish accumulation of worthless shit you call your life. You, dear Sir, are one individual worth everyones pity. but what you dont understand is that you are a symptom of a society which is nearing its end, you are a product of a failed action based on a failed philosophy and failed belief system. You are a representative of a history which will be marked with shame, disbelief and disgust. Why do you even try so hard; it just makes you look ridiculous. 

Sat, 05/01/2010 - 13:37 | 327071 Commander Cody
Commander Cody's picture

Appreciate your expressions.  Be well CB.

Sat, 05/01/2010 - 20:09 | 327366 velobabe
velobabe's picture

hey wich, can't find that word in my dictionary.

did you make up that one, like your bs.

oh you misspelled loyd, too.

did you pass your driver's license?

hopefully you didn't pass the security exchange test to become DMA Trader

Sat, 05/01/2010 - 11:46 | 326929 Wannabee
Wannabee's picture

 Mathew 19:24

Sat, 05/01/2010 - 11:46 | 326930 Pogi
Pogi's picture

I was just offered a position at goldman can't wait to start.

Sat, 05/01/2010 - 11:50 | 326938 anony
anony's picture

Start what?

Sat, 05/01/2010 - 13:29 | 327058 swmnguy
swmnguy's picture

Shredder Maintainence Technician?

Sat, 05/01/2010 - 13:38 | 327073 Commander Cody
Commander Cody's picture

Assume the position, striper bait.

Sun, 05/02/2010 - 00:37 | 327532 merehuman
merehuman's picture

Nothing like a good laugh at the end of the world. Thanks all. Couldnt find my happy pills in the dark.

I post regularly to avoid complaints.  Being blond helps.Not sure how but i just know it does.

Sat, 05/01/2010 - 12:07 | 326943 williambanzai7
williambanzai7's picture

I feel obligated to watch this, but I am being nauseated by the stench...

A NIGHTMARE ON WALL STREET:

http://williambanzai7.blogspot.com/2010/05/nightmare-on-wall-street.html

SPONGE JOB HATHAWAY:

http://williambanzai7.blogspot.com/2010/05/get-ready-for-sponge-job-hath...

Sat, 05/01/2010 - 12:09 | 326966 Cognitive Dissonance
Cognitive Dissonance's picture

WB7

You are one sick mother. Where do you come up with this shit? Brillant. I printed out the movie poster and have it hanging in my home office. I can't wait for the sequel.

Bravo!!!!

Sat, 05/01/2010 - 12:48 | 327003 williambanzai7
williambanzai7's picture

Tnx CD--I think all the outrage fused certain sectors of my right and left brain lobes in some perverse manner.

You know what I would really like to do? I would like to do the script for "Get Shorty" goes to Wall Street.

Sat, 05/01/2010 - 20:17 | 327371 velobabe
velobabe's picture

you should help howard beale with his ZH merchandise for sale at Zazzle.com.

i think he could use your input†

"Get Shorty" goes to Wall Street. good one.

 

Sat, 05/01/2010 - 12:55 | 327014 Hulk
Hulk's picture

We should get together for Halloween William!

great stuff..

Sat, 05/01/2010 - 11:56 | 326947 KTV Escort
KTV Escort's picture

If any of the big players are convicted, no doubt it goes to the big screen... so what's the casting?

Lloyd Blankfein ~ Gary Oldman

Fabrice Tourre ~ Sean Penn

etc.

Sat, 05/01/2010 - 13:35 | 327069 Commander Cody
Commander Cody's picture

My vote is with Charlie Sheen for Fab.

Sat, 05/01/2010 - 14:06 | 327100 jm
jm's picture

Jamie Dimon ~ Elijah Wood

Sun, 05/02/2010 - 07:51 | 327584 Cheeky Bastard
Cheeky Bastard's picture

Jackie Chan - Ping Jiang

John Goodman - Steve Cohen

The Baldwin Brothers - GS Fixed Income Desk

John Turturro - Einhorn

Bubby the Silverback Gorilla - Dick Fuld

Sat, 05/01/2010 - 12:14 | 326949 Cognitive Dissonance
Cognitive Dissonance's picture

"Jesus, Lloyd, don't you understand that the public is not as dumb as you think it is? That even the regular Joe Sixpack can read the hypocrisy behind just that one statement?"

In realty, each and every one of us maintains two worldviews, both of which are intertwined and cross connected and often feed into each other. One is of the world in general and how it works. This is the base, this is the ruling class, this affects this which benefits this or doesn't benefit that and so on. The second worldview is of how we see ourselves in the first worldview, our self image concocted by our self for our self.

Obviously, there is a bit of biais programmed into both worldviews but most definitely into our view of our self. It also explains why we have a tendency to gather with like minded people, both for the reinforcement they provide and for the mortality that is inferred upon ones actions that a large group of people will extend simply by existing. Everyone else is doing such and such so it must be correct.

We all have a tendency to see ourselves as doing good, spreading the wealth, marching towards the betterment of man and mankind and anything we do can be explained away as part of this grand and noble cycle. In my typical long winded manner, what I'm saying is that Lord Blankfein truly does believe what he is saying. His is the most dangerous type of scoiopathy because he's suffering from the delusion that he's correct, whereas most sociopaths don't even think about the morality of their actions except in relationship with how to use someone else's moral makeup against them.

He has passed over into the insanity we all flirt with, where we sometimes create a world within a world and we occupy that world and reinforce that world to perpetuate our own insanity by believing not only that we are sane but that we are doing God's work, that our (in)sanity is benefiting those around us. The perfect positive feedback loop that pure insanity represents.

Sat, 05/01/2010 - 12:59 | 327020 b_thunder
b_thunder's picture

"...what I'm saying is that Lord Blankfein truly does believe what he is saying" - absolutely!  He says 100% what he believes in, and he does what he says.  He did not sisspeak  "we're doing God's work",  he believes that!

He doesn't understand the world that is out there, outside of manhatta and Greenwich... He doesn't see how his prop trading drove oil to 147, housing in certain markets to 250% of the reasonable vrent-supported value, how his swaps damaged the municipalities, and how it all contributed to the bubble and the bust.

But he is what he is, it's about the sheeple now, and if th sheeple can pressure the gov't to make markets free and fair.  he is a trader, and he made a bet that no changes will take place

Sun, 05/02/2010 - 03:13 | 327585 Cheeky Bastard
Cheeky Bastard's picture

I fucking love your posts CD

You are truly and honestly THE BEST commentator on ZeroHedge.

Sun, 05/02/2010 - 11:33 | 327811 vzhyk
vzhyk's picture

second that

Sun, 05/02/2010 - 06:35 | 327637 Miles Kendig
Miles Kendig's picture

+! CD.  Back to Blanks mental competency.

Sun, 05/02/2010 - 08:35 | 327682 tpberg7
tpberg7's picture

The perfect positive feedback loop that pure insanity represents.

Lloyd’s belief system cannot be refuted and will never change, at least in his mind.

 

Sat, 05/01/2010 - 11:58 | 326950 nope-1004
nope-1004's picture

Fuck you Blank-fake-smile.

Sat, 05/01/2010 - 12:02 | 326957 QuantTrader
QuantTrader's picture

We are Wall Street. it's our job to make money.  Whether it's a commodity, stock, bond, or some hypothetical piece of fake paper, it doesn't matter.  We would trade baseball cards if it were profitable.  I didn't hear America complaining when the market was roaring to 14,000 and everyone's 401K doubled every 3 years.  Just like gambling, it's not a problem until you lose.  I've never heard of anyone going to Gamblers Anonymous because they won too much in Vegas.

 

Well now the market crapped out and even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat.  God knows there has to be one for everything. Well, here we are.

 

Go ahead and continue to take us down, but you're only going to hurt yourselves.  What's going to happen when we can't find jobs on the Street anymore?  Guess what:  We're going to take your.  We get up at 5am and work until 10pm or later.  We're used to not getting up to pee when we have a position.  We don't take an hour or more for a lunch break.  We don't demand a union.  We don't retire at 50 with a pension.  We eat what we kill, and when the only thing left to eat is on your dinner plates, we'll eat that.

 

For years teachers and other unionized labor have had us fooled.  We were too busy working to notice.  Do you really think that we are incapable of teaching 3rd graders and doing landscaping?  We're going to take your cushy jobs with tenure and 4 months off a year and whine just like you that we are soooo underpaid for building the youth of America.  Say goodbye to your overtime and double time and a half.  I'll be hitting grounders to the high school baseball team for $5K extra a summer, thank you very much.

 

So now that we're going to be making $85K a year without upside, Joe Mainstreet is going to have his revenge, right?  Wrong!  Guess what: we're going to stop buying the new $80K care, we aren't going to leave the 35% tip at our business dinners anymore.  No more free rides on our backs.  We're going to landscape our own backyards, wash our cars with a garden hose in our driveways.  Our money was your money.  You spent it.  When our money dries up, so does yours.

 

The difference is, you lived off of it, we rejoiced in it.  The Obama administration and the Democratic National Committee might get their way and knock us off the top of the pyramid, but it's really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.

 

We aren't dinosaurs.  We are smarter and more vicious than that, and we are going to survive.  The question is, now that Obama and hid administration are making Joe Mainstreet our food supply...will he? and will they?

Sat, 05/01/2010 - 12:11 | 326967 twotraps
twotraps's picture

Great idea....pensions at 50 for anyone in the trading business, summers off, long lunches.  It will make us all calm down and enjoy life, no more stress or rushing around.    Aweseme post.

Sat, 05/01/2010 - 12:20 | 326979 Cognitive Dissonance
Cognitive Dissonance's picture

Deluded psychopathy. It's a wonderful thing to watch in action, like those Nat Geo documentaries of colonies of ants building bridges and gathering food, each ant embodied with a singleness of purpose, complete with the moral certitude that they are doing the dirty work, that no one understands them or their service to the greater good, that the world would be a far worse place if they didn't grace us with their genius and their benevolence.

I for one will gratefully grovel at your feet just before I shove a letter opener through your balls.

Sat, 05/01/2010 - 16:07 | 327222 LeBalance
LeBalance's picture

Well my fellows, this is a rare opportunity to bid on NOT one but the pair of "God's Worker" Lloyd Blankfien testicles.  They were obtained through no small effort by our brother CogDis, the pre-eminent, bower and shiver.  Now where shall we start the bidding?  Anyone?

Sat, 05/01/2010 - 16:25 | 327241 Cognitive Dissonance
Cognitive Dissonance's picture

Psst.....LeBalance.......over here.

Let's conspire .....er...work together and rig .....er....enable the bidding process Goldman Sachs style to get a higher price. I'll work through intermediaries to place false bids and jack up the price so the eventual winner pays 3 or 4 times their actual worth, which if you ask me are priceless.

BTW, maybe we can manipulate Blankfien into buying his own balls back. I cut them off cleanly so they can be sewed back on and they've been on....um...ice so they should still....um....function, assuming they did in the first place.

Sat, 05/01/2010 - 16:38 | 327249 LeBalance
LeBalance's picture

You sir are a gentleman and a killer, LOL!

You are auctioning a scrotal pouch and refer to its style as "Goldman Sachs."

And since we are dealling in genital accoutrement, you have the good taste to ask to "jack up" the price.

Not a dry eye in the house, what style.  New keyboard worthy!

I think we should grind them up and give them to his kids in their next Happy Meal, but you did the deed, so I am yours to command.  The Happy Meal degridation filmed and youtubed, of course.

Sun, 05/02/2010 - 10:48 | 327761 uraniuman
uraniuman's picture

You two are way too funny, and making me late for work. As luck would have it my boss is me, so the consequences should me minimal - the shrinking farmer - no, that's not right - the farming shrink; yea that's the ticket.

Sat, 05/01/2010 - 12:37 | 326991 Implicit simplicit
Implicit simplicit's picture

You must be getting nervous as the system unwinds. Watch  the investgation as it winds it way  down its own credit default swap pyramid from the goverments of Italy and Greece to the municipalities in the US. Can you spell revolution against the big bank oligarchy?

Oh you must know how to fix a car, plumbing, carpentry, electrical etc.. because you are going to take the job oif the masses that do real work for a living. What a joke. How will you survive?

Sat, 05/01/2010 - 12:51 | 327010 b_thunder
b_thunder's picture

The only ppl you will hurt are Manhattan real estate  brokers and Manhattan escort services Sarry, modeling agencies.

Retirement @50?  Fabrice Torre email suggest that 2 years ago, he only intened to sta in the business for a few more years.  I suppose if you make $2mil, you can retire at 35 if you  want to.   What I'm tryign to say is that postponing the retirement by about 15 years ain't gonan scary anyone...

Sat, 05/01/2010 - 13:08 | 327032 Cistercian
Cistercian's picture

 Amazing post.You don't actually make money however.You move it around, you shuffle it and take your cut.You are a parasite.Miners who extract ore from mines make money.People that build useful things make money.Farmers grow crops.

 I seriously doubt you will get a job in a coal mine or as a roughneck on a drilling rig.Because your attitude there will get you killed.

 You and your minions have stolen enough from the actually productive.

  When justice comes, rest assured we won't have to worry about you or your pals anymore.See French Revolution for what is coming.

 

Sat, 05/01/2010 - 14:08 | 327104 JW n FL
JW n FL's picture

by QuantTrader
on Sat, 05/01/2010 - 11:02
#326957

 

Well now the market crapped out and even though it has come back somewhat, the government and the average Joes are still looking for a scapegoat.  God knows there has to be one for everything. Well, here we are.

 

QuantTrader,

                     So what caused the 50 to 1 leverage to be put under pressure? WallStreet? Shorts? or was it when the monies where pulled out of the programs that provided the backstop for the 50 to 1 leverage that was until that time backed by Federal or as I like to call them Tax Trough Dollars... Bush pumped 100% more money into the programs and then several years later... he pulled funding from those same programs he pumped...

                    50 to 1 leverage on Federal monies that had been flowing like a river for 2 or 3 decades? which then got pulled... caused the stresses that lead to Goldman being able to short, which lead to Lehman's collapse.

                    Not a story on the first domino that fell anywhere, even here. Bush pulled the backstop away from WallStreet... maybe all of those dollars going the other way pissed him off? http://money.cnn.com/2006/10/31/news/political_donations/index.htm I would explain tracking codes and lobby monies but I am a bit peckish.

Be well, JW

Sat, 05/01/2010 - 15:35 | 327189 rmsnickers
rmsnickers's picture

Quite possibly the most ridiculous comment I have read on ZH to date....reminds of the Ben Affleck speech in boiler room.  Yeah, I drive a fucking ferrari!  Fail.

Sat, 05/01/2010 - 19:52 | 327355 Strider
Strider's picture

Hitler didnt kill the Jews it was all those camps, and Goldman Sacks didnt kill the economy it was all those rogue traders, quant traders, and Wall Street boys and girls just having a little fun for bonuses games.

Why blame them, right?

 

Sun, 05/02/2010 - 07:07 | 327647 Miles Kendig
Miles Kendig's picture

but it's really going to hurt like hell for them when our fat a**es land directly on the middle class of America and knock them to the bottom.

One of the 1,000 pound persons has said he will sit on everyone if we don't behave.  Time to put this pudgy bastard on the stair master and give 'em a gastric bypass.

Sat, 05/01/2010 - 12:08 | 326964 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

More food for thought here:

http://exiledonline.com/confessions-of-a-wall-st-nihilist-forget-about-g...

If you really want to get into it, we don't even see the real evil, just the Devil's PR man. We throw stones at this strawman and think we've accomplished something.

Sat, 05/01/2010 - 12:14 | 326970 nope-1004
nope-1004's picture

We get up at 5am and work until 10pm or later.  We're used to not getting up to pee when we have a position.  We don't take an hour or more for a lunch break.  We don't demand a union.  We don't retire at 50 with a pension.  We eat what we kill, and when the only thing left to eat is on your dinner plates, we'll eat that.

 

You do realize that your explanation reveals that Jesus Christ himself would not qualify for your position.  Don't you see the the problem with your criminality?  Justifying it by lieing and "working hard" does not make you admirable.

 

BTW... in case you don't know, the 'market' is not the real economy.  We don't need DOW 14,000 to survive... we need honest trade where productive individuals are compensated for their work.

 

Bankers, brokers, and agents are the largest growing sector from 2000-2008.  Well, guess where they're headed next, my friend?

 

Come take my job... problem is, you wouldn't know what to do because all you know is how to lie, cheat, and skim off of someone else.

Y'all are useless parasites.

 

 

 

Sun, 05/02/2010 - 07:14 | 327651 Miles Kendig
Miles Kendig's picture

We get up at 5am and work until 10pm or later.  We're used to not getting up to pee when we have a position.  We don't take an hour or more for a lunch break.  We don't demand a union.  We don't retire at 50 with a pension.  We eat what we kill, and when the only thing left to eat is on your dinner plates, we'll eat that.

And when they wear the uniform, rather than soiling the reputation of a whole nation I will actually think they are making a sacrifice. These folks say they are essential to the nations security?   Fine, pay them on the DOD scale, especially since their position is non union. Just reinstitute conscription and place these folks under the authority of the UCMJ.

Sat, 05/01/2010 - 12:37 | 326978 Jim B
Jim B's picture

Amen, we are doing Gods work!

The "multi-billion dollar bonuses" are a cross that we must bear for performing public service.

How pathetic!

***VOMIT***

Sat, 05/01/2010 - 12:34 | 326988 HarryWanger
HarryWanger's picture

Buffett out in full force today defending GS and screaming Buy! GS will be up 10 bucks easily on Monday. 

GGS getting pumped.

GGreece resolution reached.

S&P should pop a good 15 points on Monday. Everything I'm reading in mainstream media is telling us how strong the economy is now. A few well placed Sunday articles and the dip buyers return in all their glory on Monday morn.

Sat, 05/01/2010 - 12:50 | 327005 Implicit simplicit
Implicit simplicit's picture

Yes the Greece revolution is happening as they wait to default on their loan.

GS and the rest of the bank oligarchy must still fend themselves agains the thousands of lawsuits coming from the CDS scam.

 First the countries, like Italy which has got the ball rolling, then the municipalities of the US which were swindled They also will demand prosecution as they can not pay their bills from being swindled into the CDS scam.

The futures are down and the open will be diasterous.

Sat, 05/01/2010 - 13:02 | 327026 HarryWanger
HarryWanger's picture

The futures reflect Friday's close. They reset at the open on Sunday. FYI.

Sat, 05/01/2010 - 13:11 | 327040 Mitchman
Mitchman's picture

The Nikkei will set the table for Monday.

Sat, 05/01/2010 - 14:44 | 327135 HarryWanger
HarryWanger's picture

Nikkei is always reactionary to US market. It will be down only because US was down. Look at the correlation, especially in the past year. US never follows Asia.

Sat, 05/01/2010 - 13:23 | 327052 Implicit simplicit
Implicit simplicit's picture

What about Italy and the municipalities of the US. Do you think that there will be more lawsuits by other countries and states, or do you think it will all just go away. Correct me if I am wrong. What is your valued opinion?

Sat, 05/01/2010 - 13:23 | 327053 Implicit simplicit
Implicit simplicit's picture

What about Italy and the municipalities of the US. Do you think that there will be more lawsuits by other countries and states, or do you think it will all just go away. Correct me if I am wrong. What is your valued opinion?

Sun, 05/02/2010 - 11:39 | 327818 vzhyk
vzhyk's picture

doesn't he buy when you sell and vice versa? What a dumb ass advise!

Sat, 05/01/2010 - 12:39 | 326992 DMA Trader
DMA Trader's picture

A lot of people that judge Blankfein have no idea how a market maker works. 

 

Sat, 05/01/2010 - 12:51 | 327009 HarryWanger
HarryWanger's picture

Amen! I had this conversation with a group last night. 99% of the people don't understand what they do and how they facilitate it. They just are fed sound bites and headlines and want to crucify anything Goldman without really even understanding their complex business. 

Sat, 05/01/2010 - 13:01 | 327023 SRV - ES339
SRV - ES339's picture

Harry... please tell me your support of the financial elite includes investment of all or most of your net worth in "what they do and how they facilitate it."

And, please keep us posted on the way down... I'm sure it will be a touching human interest story!

Sat, 05/01/2010 - 13:10 | 327037 Implicit simplicit
Implicit simplicit's picture

Hiding deception behind a cloak of "complexity" is condescending even to anyone with a 6th grade education.

How will history judge GS? Historians will look back and say GS needed to be stopped from performing their "market maker "  Ponzi scams before the whole nation was bankrupted.  The big banks were broken up in 2015. Gs was a shell of its former self, unable to trade the "complex" overleveraged derivatives that bankrupt countries and states while "unethically" enriching themselves.

Sat, 05/01/2010 - 14:01 | 327095 DMA Trader
DMA Trader's picture

Let's get back to stoneage so everybody will be happy having the same 30 IQ. And we all trade stones because:

Hey, If I don't undestand CDO's or market maker it means that is bad. 

--

I'm happy that not all thinks like you.

Oh and by the way. Are you reffering to Greece beeing one of the bankrupt countrys by GS. The same Greece that used to pile up on debt, living large with huge debt. They have the official wage at 3000 EUR/year. Really ? 

I've been there last month. There were no tourist on the streets. IS that also GOldman Sachs fault ? 

Hey what every happens in the World  just Blame it on Goldman. 

 

 

Sat, 05/01/2010 - 15:26 | 327186 Implicit simplicit
Implicit simplicit's picture

GS was on the other side of the Greece bond deals with swaps.

Sat, 05/01/2010 - 19:06 | 327329 JW n FL
JW n FL's picture

by DMA Trader
on Sat, 05/01/2010 - 13:01
#327095

 

Hey what every happens in the World  just Blame it on Goldman.

 

DMA Trader,

                   Goldman is a 2nd tier working group, so yes... Anti Goldman shit is just that, fodder for the children. Not that Goldman should not be fried, they should and will be (in the form of a Fine and admitting no wrong doing, to shut up the idiots who will then think all is well and Obama is protecting them from WallStreet)... Obama is hedging his risk on WallStreet, Obama's political capital has down side protection now come election time.

                   But once again, the Goldman case is a circus... lots of noise, lights and smells like animal shit... but it is just a show... so if you go to the show and step in shit... that would be your own fault, not the animals because they don’t know any better... 

                   Greece smells funny... they cannot protect the cradle of democracy for the World, not the art, nor the Democracy itself and thusly... The ignorant Greeks get what they deserve out of the ignorant leadership that they voted into power. Ignorant / Stupid + Ignorant / Stupid ='s no worries, all is well and keep printing / spending.

 

Sat, 05/01/2010 - 20:30 | 327376 velobabe
velobabe's picture

god you spell worst than my daughter!

I'm happy that not all thinkS like you. no s.

reffering, can't find that one in my dictionary, either.

countrys, countries is correct.

I've been there last month.

i still bet you don't know how to drive a car yet.

 

Sat, 05/01/2010 - 23:42 | 327500 RockyRacoon
RockyRacoon's picture

It is painfully apparent that English is not his native language.  If I'm wrong then you are very right!

Sun, 05/02/2010 - 00:51 | 327549 merehuman
merehuman's picture

Harry you are the congenial drunk, but less of us are willing to serve you anything. 

Sat, 05/01/2010 - 12:52 | 327011 Implicit simplicit
Implicit simplicit's picture

Yeah, through legalized frontrunning corruption.

Sat, 05/01/2010 - 19:15 | 327335 JW n FL
JW n FL's picture
by Implicit simplicit
on Sat, 05/01/2010 - 11:52
#327011

 

Yeah, through legalized frontrunning corruption.

 

Implicit simplicit,

                          What you meant to say was... that Goldman Lobbied everyone in the Beltway with Tax Dollars of ours and legislated frontrunning protections... or more accurately, lobbied any and all changes to a toothless form and / or useless... no threat to WallStreet will go unchecked. Any and all threats will be addressed and lobbied away into plain vanilla legalize that allows for no real change to occur.

                          Someone posted here not so long ago... Tarp took two weeks to get thru the legislative process... A.I.G. took one month... and that Financial Reform was going on several years...

                          I offer you all our tax dollars hard at work lobbying the legisaltive branches... so that even more dollars could be added to the already over flowing Tax Trough for WallStreet..

 

The Banks are using profits to pay for their Lobby? not the 0% Fed Window?

http://www.wired.com/threatlevel/2009/08/bank-lobbyists/


**** "In the first three months of 2009, the financial sector spent $104.7 million to lobby Congress and the administration, down 8% from the same period last year" ****

http://online.wsj.com/article/SB124640640747376775.html

So that I am clear... 2008 was a vintage year for Banks? they made soooooooooooooooooooooo much money on 2008 that in the first 3 months of 2009... they could drop $104.7 MILLION DOLLARS?

http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008

 

 

Sat, 05/01/2010 - 14:20 | 327117 JackTheOffer
JackTheOffer's picture

"A lot of people that judge Blankfein have no idea how a market maker works."

~~~~~

And probably the jury that convicted Al Capone were no great hands with a Tommy gun, either.

 

Sun, 05/02/2010 - 07:17 | 327653 Miles Kendig
Miles Kendig's picture

A lot of Wall Street people that judge the average American on the street have no idea how America actually works.

Sat, 05/01/2010 - 12:40 | 326994 King_of_simpletons
King_of_simpletons's picture

Warren Buffet has become a major ahole by his support of GS. Looks like he wants to protect his investments in the banks.

Sat, 05/01/2010 - 14:47 | 327141 JW n FL
JW n FL's picture

Warren doesnt have to protect his investments in the U.S. Banks... the 0% Fed Window does it for him.

Sat, 05/01/2010 - 12:46 | 327001 Madcow
Madcow's picture

To shut down all these Phantom Assets is to shut down the financial economy. 

Financial assets about to get stuffed.

 

Sat, 05/01/2010 - 12:50 | 327006 Problem Is
Problem Is's picture

Charlie Rose is a Super Douche Media Whore
Any idiot who quotes Thomas Friedman every 5 minutes as an expert on anything... is a bitch of such proportions you might as well put him on "The View" as bimbo #3.

What Separates an Idiot Like Rose From a Moron Like Friedman?
The moron "thinks" he knows what he is talking about... the idiot doesn't.

Other than the depth of Friedman's a-hole, Rose knows he is an expert on little...

Yes CD...
I engaged in a massive but well deserved ad hominem compliment...
My apologies...

Sat, 05/01/2010 - 13:25 | 327054 Cognitive Dissonance
Cognitive Dissonance's picture

"Yes CD...
I engaged in a massive but well deserved ad hominem compliment...
My apologies..."

PI,

You consistently put effort and thought into your ZH contributions. They are often witty and informed and they show a great deal of self awareness. You have nothing to apologize for, to me or anyone else on ZH. You are exactly what this community needs, someone who is engaged and proactive but also mostly respectful of differing opinions and views.

A little purging does wonders for the soul and I for one participate in the occasional projectile vomiting of ad hominem attacks myself. Carry on my friend, you are an asset to this community.

http://en.wikipedia.org/wiki/Ad_hominem

Sat, 05/01/2010 - 12:53 | 327012 SRV - ES339
SRV - ES339's picture

OK, I tried... but only lasted about two minutes... he is just so wrong, on so many levels... this (?) is the "cream of the crop"... so much for the "best and the brightest" BS!

So now he's "not sure" if they would have failed without the bail out (softened quite a bit on that Lloyd, now that your ass is on the line), but he's glad they didn't test it (dangerously close to humility... and, in public, no less)!

 

Sat, 05/01/2010 - 12:59 | 327018 Fish Gone Bad
Fish Gone Bad's picture

Besides myself, has anyone noticed the similarities between Blankfein and Blofeld (http://www.jamesbondwiki.com/page/Blofeld).  I find it comical that Goldman Sachs would trapse out James Bond's arch enemy to stick up for them.  Perhaps the writers for SNL will pick up on the similarities. 

Sat, 05/01/2010 - 12:59 | 327019 agrotera
agrotera's picture

Tyler, you da man! Thank you as always!!!

Sat, 05/01/2010 - 13:05 | 327029 imaginalis
imaginalis's picture

He is a crafty puppet, but a puppet nonetheless.

Sat, 05/01/2010 - 13:26 | 327055 Fix It Again Timmy
Fix It Again Timmy's picture

"The reason why we get the best people, why we retain the best people, is because we get people who are really interested in doing something that they think is good for the public, for the world they are in."

This is the way it should work, you a**hole:

As it turns out, the people that contribute the greatest leaps for mankind often don't have the wealth to realize their dreams on their own. They must engage other people with wealth, who on their own don't possess the knowledge and ability to make great leaps for mankind. It is this "working together" that made things like electricity possible.

I said earlier that the most important individual decision is between hoarding and deploying one's wealth. Modern socialist thinkers will all tell you that hoarding is always bad for the economy. That the key to a thriving economy is the free (read: forced) deployment of all wealth back into the economy immediately once it is saved. But the problem is that removing the decision process from the savers changes the behavior of both the savers (lenders) and the debtors.

Debt becomes cheap and easy to get, therefore debtors no longer need great ideas like "electricity" to get a loan. And for the savers, the choice becomes as simple as a multiple choice test for a government job. The lowest common denominator rules the collective as those with a 60 IQ face the same choices as those with a 140: low yield (supposedly safe) or high yield (more risky). What is missing is the option to hoard, without losing purchasing power, which forces lenders to look at debtor's "proposals" more closely.

http://fofoa.blogspot.com/2010/04/life-in-ant-farm.html

 

Sat, 05/01/2010 - 13:34 | 327066 swmnguy
swmnguy's picture

I watched Charlie Rose for a few minutes last night before I realized he wasn't interviewing Wallace Shawn.  Oh, the disappointment.

Then I heard Lloyd answer the question of what he might do differently, knowing what he knows now, and heard him say pretty much that he'd do a better job letting the public know what a great public service his firm fulfills by rigging the market and taking all our money.

So I turned it off.  I'd have watched an hour with Wallace Shawn.

Sat, 05/01/2010 - 14:06 | 327099 Cognitive Dissonance
Cognitive Dissonance's picture

"Nourish a high paid corporate culture of Esprit D' Screw.."

LOL

Sounds to me like we have the winning fragrance for the 2010 Xmas shopping season.

Husband ..... "What's that you're wearing honey?"

Wife .... "Esprit D' Screw, just for you."

Sat, 05/01/2010 - 13:44 | 327077 jomama
jomama's picture

i can't even stomach looking at this guy anymore.

Sat, 05/01/2010 - 13:52 | 327086 DMA Trader
DMA Trader's picture

Buffett doesn't think it matters that John Paulson knew more about the bonds. If ACA made a bad decision, that's their problem.

Tell them Warrenn. Maybe they listen to you

Sat, 05/01/2010 - 20:39 | 327383 velobabe
velobabe's picture

god your spelling is atrocious. have you no shame at all.

Warrenn.

opionion

We can't be always agree.

your grammar spells it all out about you, my laddie.

Sat, 05/01/2010 - 21:58 | 327428 Village Idiot
Village Idiot's picture

"god your spelling is atrocious. have you no shame at all.

Warrenn.

opionion

We can't be always agree.

your grammar spells it all out about you, my laddie"

 

Who cares how the guy/girl spells - get off your high horse.  I haven't caught much of what this person has posted, but it doesn't seem to be overly offensive.  Let's leave the judgemental/cliquish behaviour to the white shoe bunch. Peace.

Sat, 05/01/2010 - 22:11 | 327434 velobabe
velobabe's picture

white shoe bunch!

what's that?

i like horses a lot.

but this trader seems to think of himself quite highly.

Sat, 05/01/2010 - 22:49 | 327457 Village Idiot
Village Idiot's picture

http://en.wikipedia.org/wiki/White_shoe_firm 

A lot of people think highly of themselves on this site.  Get used to it.

Sat, 05/01/2010 - 22:59 | 327462 velobabe
velobabe's picture

agree†

Sat, 05/01/2010 - 13:54 | 327087 DMA Trader
DMA Trader's picture

Buffett  thinks it hurt their reputation (Goldman Sachs)  but the other parties in the deal should have done their research

Sat, 05/01/2010 - 13:55 | 327090 DMA Trader
DMA Trader's picture

So the greatest investor of our time is defending Goldman Sachs. 

But that' nothing right ? 

Sat, 05/01/2010 - 14:08 | 327103 Cognitive Dissonance
Cognitive Dissonance's picture

Like I said previously.

"Come on, you can tell us. You're a zombie and your brain is mush, right? I thought so."

Sat, 05/01/2010 - 14:10 | 327108 DMA Trader
DMA Trader's picture

I'm just a trader who works a lot and only comes here from time to time.

If you can understand that good. If not it's your problem. 

I don't care if I'm Popular here or not. 

There is room for all of us ok. 

Good luck

Sat, 05/01/2010 - 14:09 | 327105 DMA Trader
DMA Trader's picture

Anyway I'm done talking.

I think near 120-130 area where Book Value is for GS is a good opportunity to put some capital to work.

Should it trade lower ? Nobody knows. Maybe if you forget about this joke and don't look every minute to their ticker you will be glad in 6M-12M. 

This is not an investment advice. It's just my humble opionion.

See you guys next weekend.

Sorry if I got on your nerves this weekend again :).

We can't be always agree. That's how the Market works. 

P.S. Did you guys notice that I was right with gold ? :) Where are the people that were shorting Gold here ?

Anyway I might be right again with GS. or not. 

See you guys next weekend. 

No hard feelings ok. 

Sat, 05/01/2010 - 16:34 | 327245 SRV - ES339
SRV - ES339's picture

No hard feelings... absolutely!

You seem to be a decent, hard working guy DMA... just a couple of closing points.

 . GS isn't being blamed for everything (this is a post about Lloyd), but they are "the face" of the completely detached world of greed and corruption that is today's Wall Street.

 . The financial world is not that complicated (you flatter yourself)... every profession looks complex from the outside, and yours is no exception.

 . IMO, you are a bit too close to the situation to fully appreciate the fact that your profession has morphed into the insidious beast it has become (a general, not a personal, comment).

 . Many of us have come forward to express our views (over the last few years) in an effort to "stop the madness" (with ZH leading the way)... we were belittled and dismissed every step of the way, and now it seems we have (unfortunately) been vindicated... we deserve to have a little fun with it...  let's just hope the solutions to this mess create a "better place" some day!

 

Sat, 05/01/2010 - 20:40 | 327385 JW n FL
JW n FL's picture

Goldman will not provide 100% cash on Cash in 12 months. Risk verse reward, Goldman was priced high to begin with after last years performance.

I see a scapegoat, I see a lynching coming and I don't know how much that is going to cost Goldman. Thusly, I dont see a buy, I see risk.

Criminal Risk, Civil Risk and Election Year Risk... I saw Goldman not prepping a war chest with extra earnings, I saw Goldman's management hitting sales target to maintain Bonus monies.

 

Sat, 05/01/2010 - 14:15 | 327114 George Costanza
George Costanza's picture

Lloyd Blankfein is a fool and now despised by most of the country. His money can buy happiness.  He is humiliated and hated.   Lloyd, was it worth it you selfish greedy ass ?

Sat, 05/01/2010 - 15:33 | 327191 JW n FL
JW n FL's picture

People who pray for the Rapture... people who would like to see insurance companies not paying claims due to civil unrest so that the society as a whole could be thrown into anarchy...

 

You and the rest of the Sheepeople should be rounded up and shot for treason against not only the U.S. but Treason against Mankind as well.

 

You are one of the Sheepeople, you are one of the Fox News types that regurgitate ignorance... you are the reason my Country looks the way it does. Your ignorance is blaring and should be silenced. Freedom of speech protects you now, but if you get your wish who will protect you then? You will protect yourself? from who? You are too ignorant to be a real threat to anyone other than yourself.

 

If you get your wish, then the trash can be purged from within this Country. Then re-build minus the stupidity that has saturated the Nation. Natural selection, and you are so stupid to survive... statistically speaking.

 

I hope that the Country can find an answer that the ignorant can comprehend that causes as little strife on the young, old and weak as possible.

 

“The people of a democracy get what they deserve.”      

 

The sad part of it is that majority are the ones who get the government they want.”

 

A couple of stolen quotes… but the point is, the majority is at best ignorant and at the worst flat out stupid. With that said, the few who would try to corral and / or rally the idiots for their own good typically give up. Due to the ignorance or the stupidity they have to suffer… but mostly because the media machine that runs 24 hours a day inundates the idiots to the point that any truth conveyed is overrun with the spin provided from official sources. The Corporations that own the Media, Broadly speaking… (http://www.globalissues.org/article/159/media-conglomerates-mergers-concentration-of-ownership) who maintain the majority of their businesses market share thru legislation, the media outlets give them a bully pulpit from which (other than the lobby dollars) legislation can be shifted and shaped to better meet the needs of management’s push for quarterly profitability, thusly to maintain their bonus monies…  (http://www.bloomberg.com/apps/news?pid=20601087&sid=apizp5OZit38)

 

Take General Electric for instance… Owns all the NBC’s… has a 0% Fed Window to borrow from and the only corporation in the World that the United States Treasury backs…”DIRECTLY” the Bond’s of.

 

 

I hope that for everyone’s sakes that the pain we all will be suffering during this energy rebalancing act is little as possible. I hope and pray for a quick and gentle re-distribution of the worlds resources.

 

I also pray that you ignorant fucks will get a clue, just because I pray to God… does not mean he has to say yes… I am all too aware of this fact. Your post for instance is proof God has not answered my Prayer(s). Let me be even more clear… until you and the ignorant masses get a fucking clue, we are all collectively fucked!

 

Sat, 05/01/2010 - 14:30 | 327126 Fraud-Esq
Fraud-Esq's picture

"..to make room for the new she removes the old. Every natural idiot can see this; it is the stock-jobbing idiot only that mistakes. He has conceived that art can do what nature cannot. He is teaching her a new system—that there is no occasion for man to die—that the scheme of creation can be carried on upon the plan of the funding system—that it can proceed by continual additions of new beings, like new loans, and all live together in eternal youth. Go, count the graves, thou idiot, and learn the folly of thy arithmetic!" - {T.Paine}

Sat, 05/01/2010 - 14:55 | 327151 Rick64
Rick64's picture

This has to be the lamest argument for gaming the system. They should not be able to be a market maker and an investment bank. Too much potential for fraud as they have demonstrated.

Sat, 05/01/2010 - 15:35 | 327194 gs_runsthiscountry
gs_runsthiscountry's picture

31:50 of the video quote "Charlie, lets make believe we are the NYSE."

Are you kidding me?? GS is the NYSE, we don't have to imagine or make believe anything. The most preposterous and absurd comment of the whole interview, hilarious even.

Oh well, maybe it was just a Freudian slip.

 

 

Sat, 05/01/2010 - 19:20 | 327338 JW n FL
JW n FL's picture

Goldman does provide luquidity to the NYSE... for a fee... daily... so Goldman is the money, and gets paid to be the money... good work if you can get it!

Sat, 05/01/2010 - 16:47 | 327258 HEHEHE
HEHEHE's picture

At what point do the idiot lawyers they've hired at Goldman step in and tell Lloyd and the crew to shut up?  They keep digging themselves in deeper and deeper.  Somebody's not earning their paycheck.  It's like f'g amatuer hour.

Sat, 05/01/2010 - 16:51 | 327263 LeBalance
LeBalance's picture

its a wery wery big dust-wack-chun. hehehehehe (Elmer, of course.)

Sat, 05/01/2010 - 17:20 | 327278 dcb
dcb's picture

LLoyd's audience isn't the masses or zero hedge. The audience is the listeners who want to believe him because they are making money and talking point for the senate floor from people he has paid to do this.

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