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  #501 (permalink)  
Old 18-04-2010, 10:54 PM
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Originally Posted by kkseal View Post
Ultimately it's the investors in these CDOs who are responsible for their own stupid decisions

Using your analogy, let us say a person goes to a chemist and purchases medicine. He then returns home, consumes the medicine and dies - because the medicine turned out to be poison.
Then it will be the person's fault according to you ?

GS falsely advertised the products and sold them to the investors. The rating agencies rated sub-prime / Alt A mortgages as AA.

How is an investor to know ?
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  #502 (permalink)  
Old 18-04-2010, 11:13 PM
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Originally Posted by Adheer View Post
... The rating agencies rated sub-prime / Alt A mortgages as AA.

If that is the case, then the rating agencies are as much (if not more) at fault as GS In fact they deserve greater punitive action as they have failed in their primary business function. GS's actions were off course unscrupulous, so not justifying the same either.

But savvy investors imo should have the methods & capabilities of their own to make an independent assessment of products they are putting huge sums of money into rather than relying solely on the appraisal of others (particularly the one that has designed the product & has an obvious vested interest towards selling the same - GS in this case).
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  #503 (permalink)  
Old 18-04-2010, 11:57 PM
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The "Magnetar trade" .... very similar to Paulson's trade, but probably the best trade of the decade.


The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble Going (Single Page) - ProPublica
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  #504 (permalink)  
Old 19-04-2010, 12:19 AM
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For Goldman Sachs, a Deal?s Stakes Keep Growing - NYTimes.com
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Old 19-04-2010, 12:37 AM
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Now US govt will control Derivativ products ?

Will they control aalu-pyaj's rate too [at next financial crises)

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Old 19-04-2010, 09:37 AM
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http://www.myiris.com/newsCentre/sto...secID=livenews
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Old 19-04-2010, 01:27 PM
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From another group :-

Quote:
We will see how this ends. I reckon that they will declare even stronger numbers than last year and pay record Bonus;s

Its interesting that Goldman knew the charges were forthcoming a few weeks ago. That gave them lots of chance to short S&P's / gold / silver so they could profit from their own bad news. They've probably already covered off whatever fine will be imposed on them from the profits from today's downdraft

If Obama lets his attack dogs loose on Goldman he'll be turning them on his biggest campaign contributor and God knows what else he's beholden to them for, so it remains to be seen whether they will be eviscerated by this

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Old 19-04-2010, 10:48 PM
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Goldman faces $700 million liability - Apr. 19, 2010
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  #509 (permalink)  
Old 19-04-2010, 11:38 PM
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Originally Posted by Cac View Post
Goldman faces $700 million liability - Apr. 19, 2010

lol a comment on the same page, hillarious:

The government today announced that it is changing it's national symbol to a condom because it more accurately reflects the government's political stance.
A condom allows for inflation, halts production, destroys the next generation, protects a bunch of pricks *like Goldman Sachs* and gives you a sense of security while you're actually being screwed. It just doesn't get any more accurate than that!
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  #510 (permalink)  
Old 19-04-2010, 11:53 PM
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seems this whole GS issue has more to do with public appeal on the Wall Street reform bill coming up rather than GS fraud....so they catch the firm which acted smart during the crisis
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