Goldman are scum. Always have been.
” Goldman are scum. Always have been.”
Rinse & Repeat.
The only investment banking firm that sold billions in sub prime mortgages to their clients, and then turned around and “shorted” the very companies they sold the sub prime mortgages to, Scum? Oh yeah!
I despise Goldman, but this time they should appeal.
Salesmen at this level of the industry service huge institutional and high net worth accounts. The client expects them to be available when contingencies arise, as they do — frequently at inconvenient times. When each account amounts to hundreds of millions in various investment positions, a lot of money is at stake, and it’s not unreasonable that clients should expect their concerns will be speedily resolved. It’s a basic job requirement.
Did this stockbroker and his partner cover accounts jointly, so that one could handle problems when the other was unavailable? That would have been reasonable — something physicians do so patients won’t be left in the lurch. But if you handle accounts individually, you can’t simply check out for a week or two and be surprised when things blow up and people are upset about it.