MSM Goldman-Sachs Takedown

[raja]

I can't believe this was on MSNBC.
Get past the 1 min. corny intro, and you'll be amazed, too.

Ratigan: Goldman Sachs magic trick

Oct. 16: Goldman stock is up 155 percent since March, and the company netted $3.4 billion in profits last quarter, quadrupling its earnings from a year ago. How did they do it? Dylan Ratigan explains.

http://www.msnbc.msn.com/id/21134540...46455#33346455

[Slimprofits]

Re: MSM Goldman-Sachs Takedown

previous Ratigan thread: http://www.itulip.com/forums/showthr...720#post126720

[dummass]

Re: MSM Goldman-Sachs Takedown

I can't believe this was on MSNBC.
Get past the 1 min. corny intro, and you'll be amazed, too.

Ratigan: Goldman Sachs magic trick

Oct. 16: Goldman stock is up 155 percent since March, and the company netted $3.4 billion in profits last quarter, quadrupling its earnings from a year ago. How did they do it? Dylan Ratigan explains.

http://www.msnbc.msn.com/id/21134540...46455#33346455

Oh yes, my favorite blood sucking vampire squid.

[EdZ]

Re: MSM Goldman-Sachs Takedown

So they had $70B to play with, and they made $3B in quarterly profits.

Hmmm. And how much have the indexes risen? ...

and they only made 5%.

According to Palluzzi's commentary posted here, it seems like they must have churned the pot and helped to drive up prices, but they did remarkably poorly in the final returns. They must be patching a bunch of accounting crap.

[sunskyfan]

Re: MSM Goldman-Sachs Takedown

Go Ratigan! It is about time someone showed some balls.

[cjppjc]

NY Times getting on the bandwagon

http://www.msnbc.msn.com/id/33354321...new_york_times


Bailout helps fuel new era of Wall Street wealth


By Graham Bowley
updated 3:56 a.m. ET, Sat., Oct . 17, 2009

Even as the economy continues to struggle, much of Wall Street is minting money — and looking forward again to hefty bonuses.
Many Americans wonder how this can possibly be. How can some banks be prospering so soon after a financial collapse, even as legions of people worry about losing their jobs and their homes?
It may come as a surprise that one of the most powerful forces driving the resurgence on Wall Street is not the banks but Washington. Many of the steps that policy makers took last year to stabilize the financial system — reducing interest rates to near zero, bolstering big banks with taxpayer money, guaranteeing billions of dollars of financial institutions’ debts — helped set the stage for this new era of Wall Street wealth.