this morning they actually said something semi intelligent. If the US does not cut its deficit its in jeopardy of losing its AAA rating which allows it to sell bonds to the Chinese at ridiculous 30yr yields in the 4.5% neighborhood. You know what else had a AAA rating? The lion share of the mortgage CDOs that blew up all the banks (which we so graciously saved) last year.
If I was a big investment bank and in particular GS you know what would be on my conviction buy list? Some really freakin good security...The anger towards these guys is palpable - or is that just in my head? Im torn by how I feel about GS on the one hand as a capitalist I feel like they should be able to make as much as they want and pay as much as they want but then I realize why I hate em - cuz they cheated capitalism - they got a bunch of money from Uncle Sam and they are truly imbedded in government which gives them immense influence - screw em. I think Jamie Dimon is the best of em all.
JB
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