Business news without the bullshit
Goldman and the Fed: Yes, it really is this bad
Subscribe to RealEconTV
Your e-mail address is kept absolutely private
We make it easy to unsubscribe at any time
What goes on behind closed doors when the Fed audits the big Wall Street banks like Goldman?
Now thanks to these secret tapes, we don't have to guess any more.
We kind of knew it.
How else could they be getting away with such blatant widespread criminality?
(To their customers" "Here sir, in this box we have a portfolio of AAA bonds."
To their in house traders: "Short the f&^% out of this s&^%$. It's total f*&^ing garbage.")
Now, at last, we know the nature of their relationship with Fed examiners.
Goldman: "Hey buddy. You missed a spot. Shine that thing so I can see my face in it."
Fed examiners: "Yes sir massa. Right away massa. Anything you say massa."
One wag tweeted "I'm going long Goldman. These guys can do anything they want."
That might work...until there's literal blood in the streets and the politicians decide the only way to save their skins is to string the big banks up from the nearest tree.
Life is long and stranger things have happened.
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.
The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.