Does the Goldman Sachs promote lawlessness from within? From James The Total Dipsh*t
From an article over at:
Another author was accused of a being a total dipsh*t as the comment said:
That Jesse dude is a total dipsh*t. He’s like a child that wanders into the middle of a conversation….
Jesse’s article seems to be well written with gold nugget gems like:
The investment banks and brokers are an adolescent culture, high on macho and low on expansiveness in thinking to put it politely.
The difficulty is that over the past ten years the financial sector, including the once staid commercial banks, has been absolutely overwhelmed by the hedge fund and investment banking mentality, which in turn has been influencing serious policy discussions in Washington to the detriment of the nation. Most of it had to do with deregulation smearing the boundaries, and opening new opportunities for control frauds through innovation in complexity.
Goldman Sachs is primarily a big hedge fund with a lot of political clout and an inside line with the Fed. They have a trading, hedge fund culture these days. It was not always like this. At one time a firm’s reputation and their word was everything in a system founded on confidence. With a trading culture it’s all about the bottom line, with profit as virtue, and deceit in the name of profit is no vice. You do not wish to have fellows with this mindset running any substantial part of your country.
Even worse, their self-centered and short term thinking and clever manipulation of the rules has become the tail wagging the big dog of the country, because the political climate in Washington, and elsewhere, has been largely corrupted by money. And in a bubble economy, the financial centers are where the money is.
en worse, their self-centered and short term thinking and clever manipulation of the rules has become the tail wagging the big dog of the country, because the political climate in Washington, and elsewhere, has been largely corrupted by money. And in a bubble economy, the financial centers are where the money is.
Greed is indeed the greatest good, the fatal flaw behind the decline of the ‘me generation.’
Love it, read the entire article at: http://jessescrossroadscafe.blogspot.com/2010/08/road-to-serfdom-inside-goldman-sachs.html
He also left some juicy gold nuggets opinions on start ups and venture capitalists:
Note to Antonio. I have been where you are now. Watch out for the venture capitalists, and who they attempt to place on your board. They will steal your company and beggar your common shareholders if you allow them, and clap you in financial chains. Keep a close eye on cashflow and burn rates, because if you ever need second tier financing, you’re done unless you are very, very lucky. Sandhill Road is the new Tortuga.
I now post my TRADING ALERTS
into my personal FACEBOOK ACCOUNT
. Don't worry as I don't post stupid cat videos or what I eat!