tag:blogger.com,1999:blog-2121490237517462736.post6058042393296810978..comments2024-02-20T01:52:53.299-08:00Comments on Futronomics: contrarian analysis of global macro trends, commodities, currencies, equities: Populism Rages Against 85 Broad StMatt Stileshttp://www.blogger.com/profile/17977694389453612864noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2121490237517462736.post-76835645701319391452009-07-17T02:38:35.159-07:002009-07-17T02:38:35.159-07:00Pig is too good a term to use for these people. I...Pig is too good a term to use for these people. I am a capitalist. This isn't capitalism. It is organized crime. US attorney is quoted "if this software fell into the wrong hands, it could be used to unfairly manipulate the markets". This was said upon the charging of the Russian nerd who downloaded the program to Germany from Goldman Sachs. Well, what the hell does he think GS is doing with it and why haven't they been charged? Are they waiting for the SEC? SEC gets future jobs from companies like GS. At the same time they won't let small investors day trade more than 4 positions a week. <br /><br />Even Martin Hutchinson, who has a website called great conservatives, says Goldman is trading on insider information. These guys are trading and lying. Goldman runs the market in a direction tnen makes up the reason. This weeks oil inventory report is such an example, as the total amount of petroluem in storage in the US increased. <br /><br />I fume literally everyday, having knowledge of what these guys do. Problem is JPM is doing the same thing and they never showed their hole card. Chase has been broke more than once and the government covered it up. Geithner worked for Kissinger, who worked for Rockefeller, who ran Chase. <br /><br />They sowing the seeds for revolution in the US. We aren't talking about poor versus rich, but middle class hitting it out of the rough against rigged having it set on a tee. The idea that 30,000 people in a firm can average close to $1 million while the world is going bankrupt screams crime and fix, not brains. <br /><br />As I watched Paulson on TV Thursday, I got the idea that Paulson and Geithner set Ken Lewis up for a fall. Something tells me Lewis isn't part of the NYC good old boys network of Rockefellers and the Jewish financial establishment. Notice how Wachovia was almost fed to Citi when in fact, Citi should have been closed. Robert Rubin was drawing big checks out of Citi and I am sure Sandy Weill still had plenty of stock. <br /><br />I have felt for at least 7 years that the markets have been rigged. Just watch it during the day. Wednesday was a classic case, as it marched forward all day without a blink. That is a machine doing that, one that has data on where the stops are, who is short, who is long. One that forces people to give up their positions or buy or sell from or to the machine. 30 reasons come out and Goldman tells the press which reason to print for why they pushed the market the direction they did.<br /><br />A guy who forecast oil going past $100 about 2 years ago has now forecast oil at as low as $20. One thing I have watched is oil for the past 35 years and rarely has the bottom come out of it without my somewhat expecting it. Goldman, I believe was cornered on the long side, their machines creating a contango over time that keep their profits in order. Oil has been a dead short over $50 all year based on fundementals, yet we had gasoline go up something like 57 straight days? The refineries haven't hit 90% capacity all year. Goldman is offering an $85 estimate in this light. They were saying $200 when it was in the $135 range last year. Abby Jo Cohen of GS was calling for SPX 1750 in January 2001, just as the bottom was beginning to rot out of the broad market. They pay too much to figure this stuff out to give it away. <br /><br />I would rather sit down with a famous criminal like Al Capone and make a deal than deal with anyone from Goldman. I would rather deal with Madoff.mannfm11https://www.blogger.com/profile/06507232690375884354noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-35291289588782515382009-07-15T11:50:05.758-07:002009-07-15T11:50:05.758-07:00RRB - yes. But if there is to be populist anger m...RRB - yes. But if there is to be populist anger misdirected at wall street in general, I would rather see that than nothing. <br /><br />Sleeping people are more difficult to reason with than angry people.Matt Stileshttps://www.blogger.com/profile/17977694389453612864noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-36176049061890313092009-07-15T09:22:04.063-07:002009-07-15T09:22:04.063-07:00Also - people respond to incentives. If the govt t...Also - people respond to incentives. If the govt that sets the rules - frankly, its hard to blame GS for trying to maximize their profits within the given rules.<br /><br />Obviously, the rules are absurd and corrupt. And they were made by ex-GS guys. But who appointed Paulson and Geithner and Kashkari etc? Shouldn't the true blame rest on their shoulders?RRBhttps://www.blogger.com/profile/09022375119606981298noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-80607323538457833592009-07-15T09:19:56.806-07:002009-07-15T09:19:56.806-07:00It is absurd to blame this on Wall Street. It is t...It is absurd to blame this on Wall Street. It is the intertwining of a PARTICULAR firm on Wall Street (GS) and the government that is to blame. It is the govt that decides who gets what compensation during its multi-trillion $$ bailouts, not GS.<br /><br />There are plenty of hard working, honest people in finance. Unfortunately, they do not end up in the elite of GS or the govt.<br /><br />I am always amazed that nobody sees a conflict of interest in Paulson/Geithner's appointments and GS's almost other-worldly good fortune.RRBhttps://www.blogger.com/profile/09022375119606981298noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-68860375804331091162009-07-15T02:24:01.453-07:002009-07-15T02:24:01.453-07:00Government Sachs is a more proper name for the bea...Government Sachs is a more proper name for the beast.Roger Jnoreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-51352967936319448082009-07-14T23:10:49.084-07:002009-07-14T23:10:49.084-07:00This is one of the most disgraceful episodes in Wa...This is one of the most disgraceful episodes in Wall Street's sullied history.<br /><br />Greed has no limit.Fish10https://www.blogger.com/profile/09770438465068216630noreply@blogger.com