When you’ve got a lock on the Fed, Treasury and inside the White House, it’s a given you get title of Master of the Universe. Goldman has out-maneuvered lesser rivals using commonly accepted practices of frontrunning the Fed, FASB funny stuff, and naked shorting their pals to oblivion. Their only rival now, JP Morgan, will soon be drowning in another wave of toxic paper. Technically insolvent, GS will eventually fall to levels where it can be swept under the Treasury’s carpet, joining former high-fiving pals like Bear Stearns, Lehman, AIG, Fannie Mae, and the thousand or so regional banks dumpstered.
Relative Performance GS and JPM
What about Geithner? Instead of being a former CEO, he’s now hiring GS lobbyists to participate in Team Hope’s thinktank.
So what am I going on about? Golden Sachs (GS) looks like it has double topped out at $95 and is destined to break new low territory. It really has no business being over $5. Take the $90 as profit on any short.
THE SNOW JOB 