Wednesday, Jan 13, 2010
You know you love it
FDRAOA: Goldman Sachs About To Go Bankrupt
Remember how quickly Goldman Sachs went bankrupt the first time? A hungover kid clinging to the toilet bowl, they promised taxpayers who bailed them out that they would never touch investment banking again, and would instead turn into bank holding company with consumer retail locations.
Today, Goldman Sachs losses are much worse. They've got over a $trillion in mega-leveraged liabilities. They've marked-up, instead of written down, a $53B ultra-leveraged, completely worthless subprime portfolio, and have lost hundreds of billions in diving commercial real estate which they continue to book as more valuable than 2005.
Posted by devo @ 06:17 PM (1493 views) Add Comment
3 Comments
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1. devo said...
I look forward to a vigorous dismantling of FDR's argument from flashman, our self-appointed hpc Pollyanna!
2. hpwatcher said...
America will be destroyed in the process of trying to save Goldman Sachs.
3. Ayupmeduck said...
This blog article may or may not be true. It seems possible to me. However, the author offers no evidence whatsoever, so I'm not sure that it can be taken seriously. Warren Buffet deep into Goldman Sachs, and love him or hate him, he knows his accounting.