"You TOO can be a bagman of the state!"

Goldman Sachs got billions in bailout money, both directly and funneled through the hollowed out corpse of AIG.  They also switched their classification, so as to milk the Fed cow directly.  As a result, their profits are blasting off to the point where, well…:

Meredith Whitney gave Goldman Sachs Group Inc. her only “buy” recommendation among the eight banks she covers, saying the shares may climb 30 percent.

Whitney, the founder of Meredith Whitney Advisory Group LLC, hasn’t recommended buying shares of New York-based Goldman Sachs since January 2008, when she was an analyst at Oppenheimer & Co. The stock may reach $186 from $141.87 on July 10, the 39- year-old analyst said in a note to clients today.

This is like telling people that if they’re bystanders in a bank during a robbery, they should request that the robbers hand them each a couple C-notes before making their escape.  Or, at least, it would be if robbery with a pen were treated the same as robbery with a gun…

Advertisements

About b-psycho

Left-libertarian blogger & occasional musician.
This entry was posted in economics. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s