Goldman Sachs Elevator Gossip

Hitting the news today is the "revelation" of the person behind the @GSElevator twitter feed.   The twitter feed is an insight into the minds of some of the Wolves of Wall Street.   Some quotes confirm all that you suspect is wrong about Wall Street, other quotes are brilliant.

A recent sampling;

#1: I just want to be rich enough to not be motivated by money.
— GS Elevator Gossip (@GSElevator) December 14, 2013

#1: Don't apologize for being late with a Starbucks latte in your hand.
— GS Elevator Gossip (@GSElevator) December 19, 2013

33% of DJIA is 5 stocks. Gauging the economy on that is like putting the back of your hand on your forehead for a health exam.
— GS Elevator Gossip (@GSElevator) December 2, 2013

#1: Some chick asked me what I would do with 10 million bucks. I told her I'd wonder where the rest of my money went.
— GS Elevator Gossip (@GSElevator) November 12, 2013

And finally..

#1: I don't have an iPhone case. I'm not irresponsible or poor.
— GS Elevator Gossip (@GSElevator) November 9, 2013

An open letter to Goldman Sachs

The Epicurean Dealmaker pens an awesome open letter to Goldman Sachs.

And yet your firm still pretends that you put your clients’ interests first. Bullshit. You are a giant f***ing hedge fund which has been trading for its own account for years. The rot has even extended into one of the last presumed bastions of client service left at your organization: M&A advisory. You don’t have clients anymore; all you have are counterparties. 

Morally bankrupt Goldman Sachs...

A GS Director has just resigned and declared the top brass at the European division of GS to be "Morally Bankrupt".   Ouch.

A new year, a new semester and back to blogging.

I took a little break from blogging, but it's time to get back to it.  

As everyone knows by now the most evil investment bank, Goldman Sachs, has taken a private stake in the most evil internet company, Facebook.  All we need now is to find out that Facebook servers run on BP oil and the trifecta will be complete.

So what is GS doing with its newly acquired chunk of FB?  Apparently GS is peddling stakes in FB to some of its favorite customers.  The Wall Street Journal points out that the solicitations look remarkably like the classic Nigerian investment scam emails!

Wall Street II...

I haven't seen Wall Street II.  I'm sure it won't be as good as the original, but I'll probably catch it on Netflix.   In the meantime, in case anyone didn't know, the fictitious firm that is skewered in the movie is, of course, really Goldman Sachs...

And while we are on the topic of movies, I caught the second half of "Capitalism - A love story" on the tele last night.  This is Michael Moore's 2009 rant against the capitalist system.  While I enjoyed "Bowling for Columbine" I have to say that this film is terrible - pure unfocused drivel.  The only entertaining spot was when Moore tried to put crime scene tape around the NYSE.

However, to say that Michael Moore has never directed a good video around Wall Street would be incorrect.  Tom Morello is fantastic...

Greece uses swaps to hide borrowing

An interesting article on how Greece used swaps to, in effect, hide borrowing....

Rolling Stone: Blame Goldman Sachs

I haven't had a chance to wade through this one, but Rolling Stone has a long article on how Goldman has had its fingers in every major bubble in recent history.

Felix Salmon, also reviewed the article and found much to agree with.

Finally, Felix gets a response from GS.

I have to say though that Mr Salmon's stock went down a bit with me after he referred to vegans as "bonkers".

Anyhow, good stuff if you've got some spare time to read it all.