Saturday, August 3, 2013

Hoarders: the update

Guess what! After news reports focused attention on the company's unnecessary hoarding practices of metal, Goldman Sachs now pledges a way to make the delays disappear.

The news is too late for at least one institution that decided to change a key business practice due to the recent high costs of metal.  

I wonder how this will change Goldman's strategic outlook on metals. Perhaps metals are not so lucrative now that the artificial shortage is alleviated?  

Metals are not the only market Goldman likes to manipulate. Goldman's sacrificial lamb has been found liable in the massive CDO fraud case that lost one of its clients $1 billion as the same deal gained another client an equal sum.

And there are other recent stories about the damage inflicted by Goldman in other areas:

At some point, someone, somewhere is going to have to halt the predatory practices of this company. What's good for Goldman is NOT good for the rest of us.

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