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There Goes Goldman
Market leader Goldman Sachs is accelerating its drop on no news. Rumors for the weakness involve everything from the ludicrous suggestion that the firm could be looking at buying WHR, all the way to regulatory issues, with the Volcker rule now looking increasingly likely to pass. GS Volume is high and the weakness is finally spilling over not only in stocks, but also in carry trades, as the EURUSD and EURJPY both commencing the one way track after the recent short covering spree is now merely a memory.
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Weeeeeeee!!!!!
Another "ludicrous" rumour doing the rounds is FR & ES based banks are offloading in front of some form of EU wide law suit...
They are offloading for the cash, more likely.
I have been mentioning over the last few weeks oil is looking very weak. The government to me appears to be getting over-ran already.
The economy is missing about $5T at an annualized rate versus 2007 levels. The $1.5-2T the government has been putting in there is just getting overwhelmed at this point. Without the federal government in there the system would not exist, the system would be around $7T+ under what it was generating in new credit in 2007.
There she goes, market looking sick.
Euro down in the 1.22 handle now.
bernanke wanted a low dollar for us exports and an up market .
Proves you dont always get what you want, you get what you need.
Bernanke butthead. You cant bluff reality even if you do double down, you dick ! LOL .
I admit i stayed home from work to watch the ballgame, i mean er ..market crash. Zerohedge gives a great view of the spectacle, only thing i would ask for is a ticker for DOJ and silver /gold price. Am shuttling between sites now and realize i became a disaster junky. Woe me for paying attention, but i cant help myself as the world has gotten so dramatic compared to my humdrum life. More and more the very survival of us as a species is becoming doubtful.
Usually when my own fate is involved i can do something about it. Now i feel helpless in Oregon as the folks in the gulf coast feel helpless too. The men in charge are destroying us and we cant do a damn thing about it.
This sucks. Very , very frustrated here.
My guess is the Greek threat to sue "unspecified" American investment banks has something to do with it.
For example, the "unspecified" investment banks that helped Greece use barely-legal (and now illegal) accounting tricks to cheat on their balance sheet in order to gain entry into the Eurozone ... while simultaneously initiating CDS positions against them because they knew Greece would implode.
Missing_Link
Good point.
Nothing to see here; Goldman is just shorting its own stock.
Would a bleeding shark try to eat itself ya think?
Absolutely. Goldman doesn't exist to create value for shareholders, it exists to pay out enormous bonuses to directors via Fed funny money backed by the taxpayer.
And if it's going to take itself private, it wants to do so at the right price.
Exactly.
Using the proceeds to buy CDSs on it, too.
They were shorting it at the top. At 180, they already knew this SEC charge was coming. They're probably covering, now.
Your GS obsession is slightly concerning but carry on.
Schadenfreude is a hell of a drug (With apologies to Rick James).
we are not concerned that you are an idiot.
Hey, how come you got more junks than the rest of us. I'm telling Marla. NO FAIR.
Do you say this because GS is not the only one and Tyler's attention is too narrow?
Do you say this because the real problem is central banking institutions and Tyler's attention is misplaced?
Do you say this because you are a self interested prick and Tyler is a pain right up your bankster ass?
Just curious.
+1
This laser beam like focus on Goldman makes it seem like they and they alone are responsible for the crisis, when, in fact, they are part of an establishment.
When Tyler posted the story about Goldman's perfect trading quarter, I said that the other big broker/dealers would have similar results. That turned out to be true.
So, obviously these big players aren't banging heads with each other.
It is Goldamn Sucks that is obsessed. Or possessed by a riotous lust for power, doing god's work 'n all.
At last check there were only 2,000 posts on ZH discussing Goldman Sachs.
http://www.zerohedge.com/taxonomy_vtn/term/197
The magic number
two-thousandaire
A member of America's class of home-owning families with only two thousand dollars in savings. Deeply in debt, they live from paycheck to paycheck dreading any unforseen financial catastrophies such as a sudden illness or unemployment. First coined by Karen De Coster and Eric Englund. Taking out a home equity loan might seem like a good idea to a two-thousandaire, unless one gets laid off and ends up penniless.Urban Dictionary
Yeah, no kidding. Indeed. We've noticed.
Obviously, Goldman Sachs has an extremely Jewish name (two names, actually), and has an ugly little ogre/troll/gnome/Mr. Magoo-looking creep named Blankfein at the helm, so of course it draws more attention from the bigoted, unreconstructed right flank of the survivalist/doomer community than JPM, BoAML, or any of the other big names that are equally responsible, along with Congress and the American consumer, for the shite hitting the fan in recent years.
As ZH writers well know, their beloved "vampire squid" term refers to a famous late-19th century newspaper cartoon depicting the Rothschild family (and Jews generally) as suffocating the planet with their financial tentacles. Coincidence? I think not.
Somehow, names like "Morgan Stanley" can go without mention on ZH for 24 hours or more, sometimes even the better part of a week. Meanwhile, there is a Goldman reference in practically every ZH post. It's insane.
Hahahah!!! Next you'll bring out the "anti-semite" bazooka!! What a crock of shit.
This has nothing to do with their ethnicity. They are a monopolist regime that has played the game to take the public for what they are worth and destroy the middle class in the process. The firm is made up of all sorts of people... Irish, Italian, English, and whatever. It's their repulsive collective group-think that got them to where they are, not their f-ing ethnicity.
Do we really believe all GS employees are this evil?
This isn't a Disney movie with good guys and bad guys.
Do some reading and some research bro... you will answer your own question.
Just because you only learned how to read yesterday, doesn't mean I'm a slouch, too.
LOL! You're funny. What are you, one of the Little Squid's chomping at the bit to get a precious managing director position? When most of the country is feeling the worst kind of financial pain, you are damn right I'm going to direct my anger at the firm that claims "God's work" as the reason why they deserve MASSIVE bonuses after almost becoming extinct at the hand of subprime. You can only game the system for so long before the mob comes to destroy you. Go look up the Templars.
Those are my options, love GS or love the mob?
I think they deserve each other more than me.
So there are no jews at Morgan Stanley and thats why its not being mentioned? I doubt that severely. Goldman sachs is "The Man" when it comes to biggest and baddest from what i see. Their minions range across the world, CBs and markets.
or..Who is Morgan Stanley ? Lol
minions, angels, depending on POV.
Who else is gonna help us take down fat, lazy markets and countries?
I think it's flattering for GS to get so much attention from ZH.
I think, too, it would be a mistake to blink whilst they're at the helm.
Goldman Sachs is being signaled out because it is a corrupt, oligarchic entity. I find it sad that you try to bring religion and the sad suffering of your ancestors into this.
What would your ancestors say about this gross misuse of their suffering when just trying to defend a bank? We are criticizing a BANK for God's sake!! You cheapen their memory. Think very very deeply about it.
If you can't understand that then you are unworthy of their legacy.
PS: I'm calling out your bullshit. Finance is my life. Show me the Rothchild cartoon. I've never seen anything like it from the 19th century. Don't bother posting a reply without the cartoon or we will just junk you
PS2: The Rothchild family was also a monopolist entity with an important part of the fortune originating in war profiteering... no that was not a recipe for being popular no matter your religion.
Yeah, isn't that why Jews were blamed for the Great Depression, especially by Germans who were hit the hardest? Instead of focusing on the "banks" (lenders, really), it became a Jewish thing. Hitler actually killed one of the Redshields (didn't he?), which probably didn't do much to help him win the war.
Now, that's a mob that was off target, if there ever was one to hold up as an example of why we should be careful about whom to blame.
Ooops, see, there I go... focusing on the lenders and letting the borrowers off the hook...
Soon to be know as Goldman Sach of Shit
Let me work with this with you.
How about a "Burning Goldman Sach of Shit."
It's a more flamboyant image.
I like it. Can I ring the doorbell?
If only we could leave it on the Fed's doorstep I'd say the honor is yours (very patriotic of you). Alas, I think it will be left on ours before all of this is over.
Yes once the shit sandwich is completed. Suddenly the endless appetites of the elite wain.
JPM grtting slammed as well. Down 2% on 4 times the volume as GS
Nobody expects the pump and dump!
They closed a prop desk.
http://www.cnbc.com/id/37157053
Maybe it's beginning.
Die, Die, Die My Darling - http://www.youtube.com/watch?v=4GIisWJJG28
From the article above http://www.cnbc.com/id/37157053
Goldman's
proprietary trading desk that deals CLOs—bonds backed by corporate loans—is being merged with a desk that handles trades and transactions for clients, the source said. The person spoke on the condition of anonymity because the matter has not been made public.
Why was I ever an auditor, what possible point was there?
smells like 'nasty' to me..... i ain't buyin it, so i hope you aint sellin it. my bet is that GS has some huge derivative play against itself. then it has a derivative play on the derivative play so as to protect itself from itself. so i say they plunge stock price into the 70's, collecting on derivatives, and then they attempt to ramp it back up to win on the other side.....anyone?
The stock will surge on Thursday before options expiration when the SEC announces that they do not have enough on GS or they agree to a token fine.
Buy calls
Isnt that all kinds of illegal?
When a felon stops his car on the tracks waiting for the train - its insurance fraud, but when GS does it its "hedging"?
the problem with this site is that it is as negative as CNBC is positive
Comedy is not pretty.
Yes, but CNBC is always positive. ZH's current negativity is coincidental with reality. :p
Cinéma, réalité anyone?
Physics law of connected vessels anyone? water reaches its true level eventually.
The finacial world is hanging from a few strings. One more string breaks and this blog will be proven to have been too optimistic.
Calling LeBalance...
Tart: If you're looking for sunshine-pumping, head over to Seeking Alpha.
We, here, will continue to deal with reality.
There's no law against cashing in on negative news. If you want happy news, go visit this site:
http://www.relator.org
Given your comments, either ZH *or* CNBC is right on their assessments of the economy given their polar opposite views. Given that you're here, I'm sure you can probably tell which source of news is shoveling a load of doggie poo every morning..
Paging the HarryWanger... represent the SP500 at 1175.. w00t!
WE say the world is not flat.
Hmmm... Who do you think was right in the end?
On a practical note. Visit all the sites and take the insights you chose once you know the site's bias.
On a critical note. This is precisely the problem I am seeing even in the most experienced investors. Nobody wants to do the math and follow the logic to the ultimate consequences. When I exposed the systematic collapse argument to an MD back in spring 2008 (I had written about it since winter 07) he could not refute my arguments. Instead he took me to the window and said "see, everything is ok. I Don't WANT TO THINK that we are heading into a depression". In my mind all I could think was "pappy, whether you like to think about it or not that's where we are heading"
WISHFUL THINKING IS NOT AN INVESTMENT STRATEGY (though it is important to keep a positive attitude in the face of uncertainty and hardship)
They're investing to prop up their wishful thinking.
It's not about the money. It never was. Not for them...
If these jeans make me look fat my girlfriends better tell me or I need new friends.
That's funny 'cuz most of the news on ZH is good news to me.
Good news is actually bad news, these days.
Goldie, what are you thinking - Don't buy WHR!
Buy Kenmore off of Sears and expand distribution to HD, Lowe's, etc.
?
When I saw WHR in the story, I thought it must have been a typo, but after thinking about it for a while it makes perfect sense...open a checking account at a community bank and you get a free toaster...open a trading account at GS and you get a free washer & dryer...brilliant!
Interesting reads :
World currency war :
http://www.anilselarka.com/2010/02/05/world-currency-war-just-started/
Gold at 6400 and Silver at 80
http://www.anilselarka.com/2009/12/02/gold-6400-silver-80-why-would-they-be-at/
bitch take it down!
Market down 110, guess the Wankster is scuba divining off of Belize now...
Well played.
He's on an emergency TAD to the gulf region...BP has contracted for the immediate deployment of his skittle shitting unicorns...
That's funny...but I spotted him trolling the Empire Manufacturing tread...alas, without a boat.
Great Satan going down?
what a pity, lol
Goldman Sachs Bitches!!
Wait that doesn't sound right.
Is WB selling? I betcha he is.
It couldn't have happened to a better man...
They thought their interview process was hard? Wait until I start receiving CV's from them...
I/we have been waiting for this moment!! When at last it comes, it does so on the day I am out of the office all morning!!! Oh well, I am still overwhelmed with joy. Crush these scum bags! Death to The Squid.
130 then going private
They'll block it. It'd be the rational thing to do, but it'll be blocked.
And they're too fat to go private, now... they'd have to fire almost everyone.
Is it possible that there is a blockbuster article being prepared that opens the kimono and let's the Senate staff conclude that they weren't looking in the right place when the Goldmanites were before the Levin committee?