Saturday, Apr 17, 2010
Ugh! I hate cockroaches.
The Times: Overreaction, but more bank-bashing ahead
News that Goldman Sachs has been charged with defrauding investors sent the FTSE-100 down by nearly 1½ per cent and the Dow by a similar amount.
It certainly doesn’t look good. As Wall Streeters like to observe, where there is one cockroach, there are probably others, which is why shares of Morgan Stanley, JP Morgan Chase and Bank of America were also spanked.
Posted by devo @ 07:47 AM (481 views) Add Comment
2 Comments
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1. paul said...
'Bank bashing'??!
Note to Times sub-editors: FRAUD IS A CRIMINAL OFFENCE
When paedophiles and violent loan sharks are convicted, will the Times have a headline: "More child-lover bashing ahead" or "More finance-facilitator bashing ahead"
Honestly. I'm gobsmacked that the Times has sided with companies under investigation for wholesale fraud.
2. clockslinger said...
No, an "overreaction" to what they have done would be the summary execution of the equity partners and their families on lamposts in the city, not a little civil recovery all round. On the contrary, I'd say it hardly constitutes a proportionate discouragement given the extent of the damage to the social fabric caused by these parasitic practices, particularly as we seem to accept as a society that one can start to expect a custodial sentence for a fourth or fifth ten pound shoplift from Tesco before the average magistrates bench.