Monday, April 19, 2010


WB7:  There is a cancer on Wall Street.

Once upon a time investment bankers were supposed to facilitate capital formation for exciting new businesses. They were trusted advisors looking out for the interests of their investor clients, chaperoning capital resources to efficient purposes.

How quant...(pun intended) and utterly low margin!

Now Wall Street has metastasized into a cesspool of predatory "financial intermediaries" like Goldman, who help predatory financiers like Paulson and Magnatar target suckers and fools in “private placements” of synthetic CDOs to sophisticated idiots. You know suckers and fools like AIG and your pension fund.

Lets face it, pension funds and insurance companies are all managed by suckers and fools in the age of synthetic CDOS. You know, those fascinating quantitative marvels that aren’t even understood by the CEOS of the banks that created them.

This is what happens when regulation gets diluted and polluted and cheap money sloshes around in Greenspan's Land of 0. People have plenty of funny money to throw at these kinds of bets and irreputable banks like Goldman are more than happy to intermediate the all the fun!

"The dog ate the disclosure!"

And now for Goldman Squids latest Press Release as sourced from the WSJ and Zero Hedge, complete with WB7 anotations:

Goldman 3d Release                                                            

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