Yes, read that a while back. I also read that this was part of the reason they were able to post such huge profits.
It sounds extremely illegal, but I was told that if what I described was true, it was not illegal. It was allowed, and encouraged. It is part of Capitalism and the Free Market and should not be restricted as it would constrain innovation in the financial services sector. In my view it's like playing in a football match, and betting on the same game that your team will lose. However we have been told by several analysts that absolutley nothing has changed on Wall St. in terms of regulation following the financial collapse regardless of what the governments said. And further regulations are highly unlikely with the debt being repaid. That means that these guys are free to do this all over again if they want to. 2009/12/28 Robert Munn <[email protected]>: > essentially betting that they investment vehicles they created and sold to > their clients would fail? > > It sounds to me like the tactics of a two-bit shyster. It is totally > unethical and should be illegal. I could see major lawsuits based on > Goldman's fiduciary duty to their clients. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:309806 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
