To: tcostell
Would it be fairer if he stated that he had a concern that GS and the other large banks are using these programs to manipulate the market?
That’s a concern I have. It’s also why my money is on the sidelines, where it will remain for the time being.
36 posted on
07/06/2009 8:39:55 AM PDT by
Hawk1976
(It is better to die in battle than it is to live as a slave.)
To: Hawk1976
Would it be fairer if he stated that he had a concern that GS and the other large banks are using these programs to manipulate the market? Thats a concern I have. Its also why my money is on the sidelines, where it will remain for the time being.
Let's get back to basics...
The purpose of the markets is to raise capital for companies.
The (original) purpose of companies like GS was to assess the short and long-term potential of companies being traded on the market and to decide for their clients if a company was "a good bet", then invest in it.
When things have finally devolved into derivatives markets with (by at least one estimate, an exposure that is four times the replacement cost of human civilization) and valuations hinging on microsecond trades, you get the feeling that prudence and "being adult" has gone out the window and that there is very little difference between Wall Street and the Vegas Strip.
37 posted on
07/06/2009 10:04:46 AM PDT by
BikerJoe
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