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Guest BoomBoomCrash

Goldman Sachs's Miracle Profits

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Guest BoomBoomCrash

http://www.moneyweek.com/investments/stock...fits-44508.aspx

With investment comes risk, unless you're an investment bank in which case the risk can be mitigated partially or entirely via financial hocus-pocus. The problem is that you remove the risk and you remove any guarantee of reasonable behaviour. GS is the monster that results when the regulatory philosophy is 'the market will decide'.

Edited by BoomBoomCrash

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http://www.moneyweek.com/investments/stock...fits-44508.aspx

With investment comes risk, unless you're an investment bank in which case the risk can be mitigated partially or entirely via financial hocus-pocus. The problem is that you remove the risk and you remove any guarantee of reasonable behaviour. GS is the monster that results when the regulatory philosophy is 'the market will decide'.

Except it's not a market based operation, not in any way shape or form.

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GS is entirely propped up by the state.

it is the very opposite of a free market business venture.

And the Soviet Union wasn't a Marxist state.

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Guest BoomBoomCrash
GS is entirely propped up by the state.

it is the very opposite of a free market business venture.

How so? The free market enabled GS to become 'too big to fail'. Free market philosophy created a situation in which thes banks had to be bailed out lest the whole house of cards collapses.

Edited by BoomBoomCrash

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GS is entirely propped up by the state.

it is the very opposite of a free market business venture.

Its the free market mixed with lax regulation. Certainly the boundaries are being well and truly pushed.

I'm finding more and more now that the only way to make money is to push boundaries of whats legal/acceptable, and exploit every loophole. In the case of Goldmans you merely buy the government and regulatory system.

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The free market enabled GS to become 'to big too fail'. Free market philosophy created a situation in which thes banks had to be bailed out lest the whole house of cards collapses.

nope.

the free market has told GS to f*** off and die.

only state intervention is keeping it going.

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Weirdly there is an article on Goldman in rolling stone! With a rather good opening line

The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.

http://www.rollingstone.com/politics/story..._bubble_machine

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One simple thought:

Goldman don't actually make any kind of useful good or service.

One simple question:

If Goldman make $11 billion, who else must be $11 billion worse off?

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One simple thought:

Goldman don't actually make any kind of useful good or service.

One simple question:

If Goldman make $11 billion, who else must be $11 billion worse off?

The people who produce, maintain items already produced and those providing a valuable skill or service to humanity

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If Goldman make $11 billion, who else must be $11 billion worse off?

Would-be rentiers.

NPV of market inefficiency in 2008? A billion buck GS bonus.

Real value of savings achieved by the drunken chimp? Priceless.

There's some things that money can't buy. For everything else, there's an expense account.

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