Goldman Sachs should go to jail.
Every single employee to the man.
NOTE: You assholes really should go over to Woodshedder and take notice of his recent work, especially if you’re a bearshitter (he’s one of you).
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Ben Stein=Brass Balls
Starting with Paulson.
Take ’em all out in golden bracelets, Hollywood-commie drama style.
_________
Then move one up the road to JPM.
I always wanted a chance to ‘Win Ben Stein’s Money.’ I could do it too.
What did I miss?
5:19 p.m. is late?
Just how old are you after all?
Woodshedder-
http://www.nytimes.com/2007/12/02/business/02every.html?_r=1&oref=slogin
Stein’s premise is kind of dumb. Issuing firms always short the security they are issuing as a matter of course, in order to provide a liquid trade upon issue.
More often than not, they can get their balls barbecued for it, if the security’s price shoots up.
Part art, part science.
Fly, you know this as a broker.
Your firm issues a new security, what do you do? You go out and sell it first.
In effect, you are short.
The GS researcher is right. Everything he is predicting has happened. The median price of a home- down 14%. The banks tightening due to reg standards is happening. Literally, everything in his report has came, or is in the process of taking place.
Ben Stein has lost his ass, and is pissed about it. Maybe he needs some “Clear Eyes” so he can see through his own bias.
One of the Ben Stein commercials during the Win Ben Stein’s Money commercial breaks:
http://www.youtube.com/watch?v=RcH-3d-BZn4
There’s another one that he dressed up as an astronaut.
Holiday Break!
A Very Special Fly Hannukah.
Was GS packaging dogshit for the sole purpose of shorting it?
That’s the question..
Cheese, I doubt it.
New issue and trading are two completely different areas.
Could be they are shorting it more recently, but they are not dumb enough to fuck their institutional customers over like that in a purposeful manner.
No doubt the same douchebags at Goldman were drinking the diversified risk cool-aid that the now fired douchebags at Merrill, Bear, Citi, etc, were drinking.
What pisses me off are these constant shit calls, like the end of year S&P targets still at 1565 or 1550, and IBD saying we are in a confirmed rally.
The tape has really been shit the last few days. I think longs are fucked.
GS was only doing business as usual son…
http://www.youtube.com/watch?v=UZpCN_xVYew
Yet another reason to buy GS right here right now. They were on the right side of the Sub Prime trade. Who the fuck downgrades someone who was shorting subprime? Asshats!
I hope the world isn’t really ths nave.
Wall Street has always housed Ameica’s Financial Mafia.
Merrill, Lynch is on the top of the list, this is from personal experience.
Scalawags, Scoundrels and Scumbags one and all!
Ben Stein’s a douche
in semi-unrelated matters; talk about a freakin time machine!
More on the Ben Stein/Goldman controversy over at MarketWatch.
GS gutted gready bitchs who watch flip that house on the cable channel…that is how a free market works, stuff goes up until it fails…welcome to america, wouldn’t have it any other way…play big, win big or go home like a little bitch…need I say Ben is a cry baby bitch, he has no sack…score board.
The GS website is third-tier.
I know. I’m now an authority on this shit.
-DT
gappingandyapping – I agree. I’m buying the dips.
Riverrat,
Upside is limited to 205+/- points until the 11th. Downside will likewise be limited to 200 +/- points due to jockying for position prior to Fed decision. Best thing to do is get the long and short list rounded out and to take small positions both ways. Find the steady stocks that haven’t shit the shower in the last month, because these will be the ones to be hit hard if we have one more leg down. I hold BRK.B and AAPL and have had no worries whatsoever since the last downturn. I will be looking to lighten up a smidge on stocks like those. The longs are obvious – financials, financials, financials.
More good news for LNN and VMI.
Drought! Yay!
-DT
Bueller? Bueller? Bueller? Anyone?
**News Flash**: Exclusive footage of how The Fly learned to hate bears from his youth.
Watch as The Fly’s father gets “bullied” by Biff the bear. No wonder The Fly is full of angst and bitterness toward bearshitters.
http://www.youtube.com/watch?v=4DEVcqiUGYo
Jake:
A. I no longer belong to a firm who sponsors deals. I am independent.
B. Selling inventory is a lot different than shorting securities, in lieu of a negative report coming do.
GS is guilty and should be thrown in general population, hard times prison.
A. I no longer belong to a firm who sponsors deals. I am independent.
That’s probabably a relief, I imagine.
B. Selling inventory is a lot different than shorting securities, in lieu of a negative report coming do (sic).
Agreed, but I don’t even think Stein is intimating that. Again, that would be absolutely insane for Goldman to do. Believe me, I worked for bulge bracket firms, the Research geeks used to drive us crazy with their “independence.” And this was pre-Sarbanes Oxley. I’m not saying there aren’t deal whores out there, a la Solly’s Jack Krugman, but 99% of the Research geeks had serious integrity, even in the face of large dollar pressure. Charlie Gates comes to mind as one such. Alain Karogalen (sp?) another. What’s more, this Dr. AssHat (isn’t that what his name sounds like) is an ECONOMIST for GS. Absolutely no connection between his paycheck and firm revenue, except at the most ethereal levels.
All that said, I leave the possibility that certain traders KNEW what was coming out of certain research cubbyholes, and acted on that info prior. I just don’ buy Stein/Dodd’s conspiracy, however. Too much populist bullshit. There’s just too much at risk for Goldman to risk that kind of thing institutionally.
Btw — was the site down, temporarily?
The next web2.0 bubble is bursting?
http://www.youtube.com/watch?v=fi4fzvQ6I-o
Jake,
I agree with what you are saying. Sometimes information, rather than falling on deaf ears, finds its way to “opportunistic” ears.
Most of the analysts I know have a lot of integrity and would not risk their jobs or reputation in the analyst community.
Btw Fly,
The mug shots in the PG are a nice touch.
To sum it up, JAKE – you’re an ASSHOLE
Unbelievable amount of credit contraction in the U.K. How can you avoid a recession and massive asset value deflation when credit contracts as much as indicated in this article? And they’re worried about inflation.
http://tinyurl.com/2z665g
The UK is for asshats. Short the Pound and Earl Grey tea.
Apparently Ben Stein doesn’t know the difference between good CDOs and bad ones. What the hell is wrong with being short the shit and long the good? Isn’t that what we all are trying to do?
jake i think it was I had difficulties too.
my 2¢:
Hopefully I don’t get accused of some nassim taleb type thing, attributing a now known fact incorrectly on the past events, but I tend to think it was easy to see how people designated as “subprime” could end up doin g the thing that got them subprime in the first place–not paying their bills on time.\
Goldman, with their prescience realized this was retarded, and shorted aggressively.
Then, you have another side of goldman offering up these securities with a high yield. So to say here is a great high yielding product, triple A paper does seem dishonest. I don’t think there was collusion though between the economist and kudlow actually made a good point when he said, “what person in the trading dept at GS would really sweat an economist’s (diviner’s) report?”
Even kudlow for a brief second accepted that economists are stoops.
So no one disagrees that the economist was correct?
Danny – To suggest that Goldman was peddling “triple A paper” with a high yield is total bullshit.
Goldman is an upstanding ethical firm,
ran by scumbags.
Hilarious. Ben Stein has succeeded in distracting everyone from embracing reality.
You people are communists, fly included. Pocket coin anyway you can. You gotta get your hustle on whether slinging crack rock or selling sub prime loans to the poor population that are sharks, turn your back and get your limbs eaten off by them. You know what it fucking amazes me how many people say casinos are a fucking tax on the poor or the poor are so helpless. Fuck that, no one has a gun to anyone’s head here, man the fuck up and take responsibility for your fucking debts. If you get your wallet lifted because of your inability to prosper and protect your rocks then fuck you, you deserve it. Fuck it, if I could get away with selling boxes full of empty promises and half eaten sausages made by Polish butchers I would do it. Sink, swim or die trying, whatever you do don’t fucking blame everyone else for your incompetence. Personally I believe 95% of people are incompetent and want to be babied, fucking pussies. I would have shorted sub prime too if I had the abacus they have.
P.S. – “The Fly” has proven that he is in the upper 5% but I will judge him on VMI as I doubled my stake today bringing my cost basis up to 79.50.
fly, come on dog, can we get the typing of the last post on the main page, i need some instant fly read
shit always updates, Jeff.
Clear your browser.
Reload motherfucker.
OT – Fly, What do you think of MOT here?
MOT is cheap.
I’d buy it here, if I felt like waiting.
My toilet is overflowing exactly as Fly said it would.
I’m throwing in the towel.
Asian markets up late. Niiice.
DOLLAR RALLY FUCKTARDS! AGs will get smoked today.. maybe even a limit down on beans?!
Fuck beans.
All I care about is irrigation equipment.
I hate those fucking bear floor traders that they bring on CNBC after a number comes out that say that they dont think the market will hold gains as the fucking futures are rocketing in the background. Asshats – all of em. What a fucking game.
Yeah, all evidence of future gains in the past two weeks to the contrary, right?