The Government’s Pet Hedge Fund: Goldman Sachs

Nice:

“Roubini goes even further, saying Congress should reinstate Glass-Steagall which separated commercial banking from investment banking. “If Goldman Sachs wants to be a hedge fund, so be it, but there should be a level playing field,” he argues. “Other hedge funds don’t borrow at zero rate with the guarantee of the government.”

Exactly.

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13 thoughts on “The Government’s Pet Hedge Fund: Goldman Sachs

  1. How is it that Goldman is able to be profitable every day in the past quarter? If they’re so great, why doesn’t the gov’t give them a trillion dollars to trade our way out of deficit? Oh, that’s right, because they need us to be on the other side of their trades…

  2. How much does Goldman make in the invisible bond market, skimming every trade? Make all markets transparent.Remember the option scandal, where did that go. These guys aren’t smart, arrogant and conniving come to mind. Front running the govt in the bond and currency mkts comes to mind.

  3. I heard an interview of Nassim Taleb on Bloomber radio yesterday, and he basically is in favor of something similar. I agree with both of them!

  4. Could someone please explain to me why we need Goldman, and only Goldman, to make markets?

  5. Simple. we are now a socialist nation. Only the corrupt and incompetent get protected.

  6. Dan K, Ever hear of the ‘working group on financial markets’? aka the Plunge Protection Team. Goldman heads up the manipulators. Mission: keep the stock market UP and the price of gold DOWN. The treasury and fed give them an unlimited sum of free money to work with. Working behind those deep pockets, they make billions in the process.

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