Goldman Sachs Group CEO, Lloyd Blankfein, looks on as he attends a session at the World Economic Forum WEF in Davos January 24, 2008. REUTERS/Wolfgang Rattay
Goldman - Sachs knows that there just is nowhere else to go. When profits take a downturn and all your peers are posting "Going Out of Business" signs, it is a sure bet that GS has all the assets that can be had and there just ain't any more money around except what's in their treasury, pockets and balloons. Maybe Lloyd can explain why he is STILL "The Last Man Standing." I thought that was a strategy exclusive to Bin Laden.
...AIG has hired Morgan Stanley and Goldman Sachs to seek the $75 billion. (click here) However, they must find the $75 billion by tomorrow. If they are unable, AIG is expected to declare bankruptcy. Response by AIG’s stock was immediate following the downgrade by S&P last night. This morning AIG is trading at $2.95...
GS is the only game left in town. Paulson will pull some strings to make a gesture of good will, but, with falling value anything at this point in time is simply a bandaid. It's over. The market is dead. Gross mismanagement by Republican legislators for 6 long years. You can't empty the treasury, continue to raise the USA debt ceiling and still expect to find gold in Fort Knox. It doesn't work that way.
Rather than trying to adhere to a Republican strategy of lower taxes to increase business's potential for expanding the economy, maybe its time to actually pay off the debt and take back the money Wall Street squandered to bouy Bush's economy in 2004. Maybe, just maybe, the folks with the money need to put it back. Read my lips, NO NEW TAX BREAKS !
