A Goldman source tell us: “This will shake the market to the core. Here comes the double dip,” Dow is already down over 100 points and Goldman shares are off 12 percent. “They’ve charged a know-nothing VP, but this goes all the way to the top and they know it.”
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Sound more like Zero Hedge talk than GS.
major buying opp’y today (not in GS, but in other financials.) for reals.
- equity research analyst that has a superb track record.
a no nothing VP? I had no idea GS hired people who weren’t intelligent enough to write a coherent sentence. no idea at all.
The “no nothing” quote is Kouwe quoting a verbal source. Not a GS written memo. The fault is Kouwe’s.
Yeah i’m sure this VP made the decision all by himself. Its amazing how the top GS execs take full credit for the good stuff but when the turtlehead is exposed.
They are all…wasn me, I ain’t seen nothin. Want a grant?
@3 obviously, that refers to a VP of something. Duh.
I may buy this dip in Goldman stock
Jim Cramer says there is nowhere for this stock to go but up.
Damn, couldn’t see Stevie Cutler doing something like this could you?
Was the Goldie Lox VP quoted above Blankfein’s wife’s pool boy?
@ 7 – for the love of god… too soon?
I’m fucked.
Off to the bank before the freeze my accounts.
Read the piece on Magnetar at Pro Publica, they did this 28 times. Every major bank, including JPM was involved. If the SEC doesn’t just stop at GS, everyone’s in big trouble.
http://www.propublica.org/feature/all-the-magnetar-trade-how-one-hedge-fund-helped-keep-the-housing-bubble
@10/VS but look at the April 180 calls.
Zach Kouwe’s officially title at DB is “No nothing VP-Plagiarism”
Van Praag… you magnificent bstard, *I read your book*!
@121 – don’t bring up the Magnetar thing again. It’s a poorly-written piece done by someone who doesn’t understand what the hell they’re talking about.
Arbitraging the mispricing between CDS and in CDO equity isn’t illegal. It’s not immoral. It’s what hedge funds do – they look for imbalances and capitalize on them. You buy equity at 50% that yields 30%, but you can buy protection on 100% of the notional for premium payments that are more than covered by the cash flow from the equity. Status quo, you’re making 30%, thing blows up, you get a double. Just because the seller of protection misprices it doesn’t make it wrong to buy it.
Now, in the GS Complaint, we’ll have to wait and see what the facts are on “Misleading” investors about Paulson’s role, and whether that was really material. The SEC complaint doesn’t sound pretty, but it contains allegations and not facts. Additionally, I can’t find where the SEC claims Paulson didn’t buy the equity, a la Magnetar, if he did that would make a huge difference.
@13 – I know, am long already.
@12 agreed – just change the name – the practice is endemic to every bank on the street/in the City
anyone short GS?
@STFU Who died and left you the judge, asshole?
@19 +long vol?
Fucker edited his post to show “know.”
We are on to you fuck stick.
I’d like to reassure investors holding our CDO^5s of 2099 that their investments are entirely secure, despite today’s price “correction.” We advise our holders to stay the course, and ignore short-term market fluctuations.
Easy 16, I’m not saying I have any problem with what Paulson or Magnetar did, I’m saying if the SEC is going to hold the underwriters accountable, Magnetar bought the equity of 28 deals that it went on to short. Those deals were underwritten by every major bank on the Street. I actually agree with GS position that the law is on their side, but if I was DB, JPM, MS etc… I’d be nervous.
Goldman will fight to the bitter end on the legal front. This will take years
@15 great reference
@15 excellent Patton reference
source = LB?
Alex Vayner will be exposed for the fraud he is
Nothing to see here folks, a little misunderstanding. We shorted the stock ourselves and made a fortune
No — it won’t mean anything.