This blog kills fascists. Eventually. It's a process I'm working on. Be patient with me.
Tuesday, April 27, 2010
Sen. Levin nails Goldman Sachs on a "shitty deal".
Selling "the shitty deal" was a top priority. They knew they had a "product" (somewhere in my back-issues I think I've opined upon looking at these weird mutant investments as "products" when they aren't anything tangible, understandable, or even with any understood value--I'm agin' it) that was basically worthless, but then sold it. Enthusiastically.
I fully appreciate how Levin repeats the term "shitty deal" here. It is a vulgarism, but what they did seems pretty vulgar--they "swindled". They openly misrepresented a "product". If you want a handy term for CDO--try: "pig in a poke". That term needs to be repeated to demonstrate the degree to which the responsible people at Goldman Sachs knew what they had--but were prepared to make money on it anyway--even with the knowledge that their clients would be left holding a "shitty" bag eventually.
It's not a word we commonly hear a Senator say--but it was very merited.
Subscribe to:
Post Comments (Atom)
TWGB: Cold Courtrooms and Old Farts
You are supposed to pity Trump at this point, the miserable wretch that he is, made to sit by his enemies in a freezing cold courtroom mor...
No comments:
Post a Comment