[quote=XBoxBoy][quote=davelj]
I’ll grant you that Goldman hasn’t suffered as much as it should. But they are an exception.
[/quote]
Dave,
First let me say that I totally understand that many banks, people that worked at banks and people that invested in banks have and are suffering due to this financial crisis. I totally get your point in that regard, and I’m very glad to hear you say that many of those people will not make the same mistakes again.
But then there’s the issue of Goldman Sachs. (And I suspect there are a couple of other big guys that are riding their wave)
When I see how many Goldman Sachs alum have government jobs, and how Goldman has been made whole on virtually every one of its risky bets I can’t help but be outraged. So I think it’s critical that we all stay away from lumping all banks into one category.
Clearly, most banks are playing by the rules, and doing their best to stay in business. But I find it extremely hard to agree that Goldman Sachs is playing by the rules. Quite the contrary from everything I can see they have been ruthless in their raping the taxpayer, and the fact that so many alums are in the government aiding and abetting this is astonishing.
To me, perp walks are long over due.[/quote]
In any society, some folks are more equal than others (to paraphrase Orwell). It’s not fair; it’s just the way it is. In our society, Goldman holds an exalted place. I’m not happy about it, but because I know that’s the way things are, and that it’s always going to be someone (substitute Goldman Sachs for some other institution) I don’t get too upset about it. I’m a pragmatist, so I just accept it and move on.
Anyhow, if I REALLY thought Goldman was untouchable and had such a bright future in graft and manipulation, I could always buy its stock to participate in the upside. However, I also believe in karma… and at some point GS will trip up. It ALWAYS happens with institutions like GS… eventually. And I don’t want to be holding that stock when it does.
But for those of you who truly believe GS is evil and has a bright future because of it, just buy GS stock. That’s your hedge. If you can’t beat ’em, join ’em.
