Good article in Rolling Stone on Goldman Sachs that details Goldman's role in creating and escaping this latest bubble with more power than it had before the current crisis. Keep the change you filthy animals!
Have you read the article? Your comment to bet with Goldman, characterized as "bet with the house," is the point of the article. Goldman wins with marked cards. They are not better players, they are the power elite that make the rules and when they fail they make new rules.
I bought Goldman in the 80's range earlier this year but I woke up one day and looked in the mirror and felt like George Bailey after he cut a deal with Potter and shook his hand, only to recognize the was a "scurvy spider," and rejected the money in favor of being true to himself.
Goldman is the perfect example of the fact that the old proverb, "He who works gets the bread," actually is untrue," in the world of getting and spending:
"For the outworld world is subjected to the law of imperfection, and again and again the experience is repeated that he too who does not work gets the bread, and that he who sleeps gets it more abundantly than the man who works. In the outward world everything is made payable to the bearer, this world is in bondange to the law of indifference...and he who has the world's treasure, has it, however he got it. It is different in the world of spirit.
Here an eternal divine order prevails, here it does not rain upon the just and the unjust, here the sun does not shine both upon the just and the unjust, upon the good and the evil, here it holds that only he who works gets the bread, only he who was in anguish finds repose, only he who descends into the underwolrd rescues the beloved, only he who draws the knife gets Isaac. He who will not work does not get the bread but remains deluded, as the gods deluded Orpheus with an airy figure in place of the loved one, deluded him because he was effeminate, not courageous...not a man...Here it is of no use to have Abraham for one's fathern or to have seventeen ancestors--he who will not work must take note of what is written about the maidens of Israel, for he gives birth to the wind, but he who is willing to work gives birth to his own father."
Fear and Trembling. Keep the change you filthy animals!
I have alway turned up my nose at Goldman, mainly because I have felt like the smarmy pukes that work there don't really give two twits about a little guy like me. However, after watching Paulson et al orchestrate the AIG bailout, which seemed much more like a Goldman bailout, I have to admit that these guys have brass balls and they know how to swing them. They set the rules, they play both sides of the board, they own the referees. Other than the smell thing, why wouldn't you want to play on their team? My guess is that they will be right in the middle of this "crap n trade". I am actually looking to start a position in them, if I don't gag at myself first. I guess I better read the article first.
I didn't buy GS but when obama said the banks were to big to fail I did manage to buy some MS, BAC, WFC, & C notice how i saved C for last. Keeping fingers crossed on that one. Im in at 21.00, 6.05, 14.00, & 3.10. Also have GRMN at 50ish so Im not just talking winners.