Guest BoomBoomCrash Posted July 24, 2009 Share Posted July 24, 2009 (edited) 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 July 24, 2009 by BoomBoomCrash Quote Link to comment Share on other sites More sharing options...
Injin Posted July 24, 2009 Share Posted July 24, 2009 http://www.moneyweek.com/investments/stock...fits-44508.aspxWith 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. Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted July 24, 2009 Share Posted July 24, 2009 GS is the monster that results when the regulatory philosophy is 'the market will decide'. GS is entirely propped up by the state. it is the very opposite of a free market business venture. Quote Link to comment Share on other sites More sharing options...
Cogs Posted July 24, 2009 Share Posted July 24, 2009 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. Quote Link to comment Share on other sites More sharing options...
Guest BoomBoomCrash Posted July 24, 2009 Share Posted July 24, 2009 (edited) 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 July 24, 2009 by BoomBoomCrash Quote Link to comment Share on other sites More sharing options...
@contradevian Posted July 24, 2009 Share Posted July 24, 2009 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. Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted July 24, 2009 Share Posted July 24, 2009 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. Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted July 24, 2009 Share Posted July 24, 2009 Its the free market mixed with lax regulation. nope. in a free market you have a right to refuse any offer made to you. I can't refuse to pay GS bonuses, because the gov't is extracting tax revenue from me under threat of imprisonment. Quote Link to comment Share on other sites More sharing options...
AteMoose Posted July 24, 2009 Share Posted July 24, 2009 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 Quote Link to comment Share on other sites More sharing options...
AteMoose Posted July 25, 2009 Share Posted July 25, 2009 awww and I thought it was a good quote! Quote Link to comment Share on other sites More sharing options...
athe Posted July 25, 2009 Share Posted July 25, 2009 awww and I thought it was a good quote! It was, it's just there been a few threads on that already Quote Link to comment Share on other sites More sharing options...
Joey Buttafueco Jr Posted July 25, 2009 Share Posted July 25, 2009 I can't refuse to pay GS bonuses, because the gov't is extracting tax revenue from me under threat of imprisonment. I didn't know you were a yank? Quote Link to comment Share on other sites More sharing options...
MrB Posted July 25, 2009 Share Posted July 25, 2009 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? Quote Link to comment Share on other sites More sharing options...
Ned Coates Posted July 25, 2009 Share Posted July 25, 2009 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 Quote Link to comment Share on other sites More sharing options...
ParticleMan Posted July 25, 2009 Share Posted July 25, 2009 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. Quote Link to comment Share on other sites More sharing options...
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