Tuesday, April 14, 2009

Goldman's phony quarter

Come on, are we really supposed to be surprised? Goldman Sachs are professional liars!

Look at this baloney today:

April 14 (Bloomberg) -- David Viniar, Goldman Sachs Group Inc.’s chief financial officer, said he’s “mystified” by the interest investors and government officials have shown in the bank’s trading relationship with American International Group Inc.

“They’re one of thousands and thousands and thousands of counterparties and the results of any trading with AIG are completely immaterial to what we do,” Viniar said today in an interview. “I am mystified by this fascination with AIG.”


You had $2.7 billion of writedowns in December, in the month you didn't count, because you changed your quarter.

Goldman never "clarified" their AIG relationship; and the taxpayer anted up $18.5 billion to them. So Viniar is mystified?

You had the Rohm & Haas merger, that they could stuff in, along with all the goodies from the taxpayer, so they could clean up some of their dreck, but they needed to change the dates on the quarter to facilitate it. That story was here, along with the picture on Goldman's website, which they now changed.

Goldman needed to dump the AIG goodies in December, and then get the Rohm & Haas fees. The December loss also included another billion in principal losses, meaning Goldman had $2.5 billion in principal investment losses.

Now Goldman again bagged secondary buyers, because they couldn't sell shares at a price less than Warren paid.

And they did it, on the taxpayer backs!

Their quarter, was as phony as Linsay Lohan's eHarmony ad.

The only difference is that nobody wants to get done by Goldman!


cliff said...


MOS looked pretty good today as it hit 45+ almost twice. It was about ready to go as the bid was pretty heavy on the April 50 calls but no deal as the Goldman dump pulled everyone down.

Above $44.94 on a close basis is the line in the sand.

FEED was again strong due to the contiuation move off the mid-way triangle heading for the 200 day ma.

Tommorow is another day.


palmoni said...

I bought some May 50's today as a saver, in case we don't get the rally by expiration.

Today was just like the March 19th selloff when Citi had a filing regarding the registration of shares. The bears were out in force, and a bottom was put in the next afternoon.

And that's what should happen tomorrow-Reverse sometime to rally into expiration.