Monday, April 26, 2010

Vampire Squid (Goldman) vs Vampire Squid (US Gov)

The match will be on tomorrow (Tuesday April 27, 2010), at 10:00 AM EST.

The government Vampire Squid is represented by the members of the Senate Permanent Subcommittee on Investigations (chairman Carl Levin (D-Michigan)).

Expect the trading on the US stock exchanges to be extremely thin, as most traders will likely be watching the show.

In February, the US government ganged up on Toyota over Toyota's sticking pedal recalls, which caused the then-world No.1 automaker's share price to plunge. Today, no one talks about Toyota.

Now it is ganging up on the top dog on Wall Street, as it tries to force the financial "reform" through the Senate. Shares of Goldman Sachs has lost 18% since April 16, when the SEC charges were leaked on New York Times ahead of the formal announcement.

The Senators will first beat up on 31-year-old Goldman trader "Fabulous" Fab Tourre, and then on to the showdown with the Vampire Squid incarnate Lloyd Blankfein. The last time he was on Capitol Hill, Mr. Blankfein was rather impatient with the Senators whose CPUs were clearly slower. Let's see how he does this time.

All for our entertainment, so that we can forget about the mountain of new taxes and regulations that are coming our way.


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