The market rebuked Goldman Sachs today, proving once again that the self-anointed ones are some of the the dumbest among us.
To meet their government margin call, Goldman priced a $5B new public offering at $123, a whopping 76 cent discount (so they thought) to their stock price. The company was trying to pay back a fraction of the $22.9B taken to avert bankruptcy several months ago. Traders sached the stock, humiliating Goldman and squelching any irrational dreams of survival.
Look for Goldman to pump (watch for the news) then dump assets soon to ward off the thugs calling their money back. They will look to what still has liquid value, their metals portfolios and their very best real estate assets at fire sale discounts.
GS is about to figure out that the real Mark-to-Market is a lot harsher than any pie in the sky rule they systematically ignored from the outset.
End of Day:
Goldman Sachs Group Inc. GS (NYSE)
$115.11
Change: -15.04 (-11.56%)
Tuesday, April 14, 2009
Subscribe to:
Post Comments (Atom)
http://www.goldmansachs666.com/
ReplyDeleteMike's shorting the stock. So am I!
So is GS.
ReplyDeleteGS can continue to push around the OTC derivative market on low volume margin buying. That explains why this rally has gone to these heights, just so GS could fraudulently price their offering at some absurd level. They own our government, so why not?
ReplyDeleteHey FDR, don't get me wrong with my comment - I hate the banks and look forward to the day when JPM collapses - joygasm. Anyway, do not understand what you mean by "sached" the stock. I thought I read a report where they sold it all. Thanks
ReplyDeleteA must read written by Martin Armstrong (from prison)detailing activities of the 'club' headed by Goldman.
ReplyDeletehttp://www.scribd.com/doc/14227076/Behind-the-Curtain4909
If we should expect GS to pump then dump their metals portfolios, does that mean gold may go higher in the short term before moving lower again? Just wondering, because you said you were short gold and silver.
ReplyDeleteGS bounced back rather nicely.
ReplyDeleteGS heading towards 150 soon
ReplyDelete