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The Sell Side is Pushing with All of Their Might to Inflate the Market...

Yes, Goldman Sachs, the big, powerful, influential Wall Street bank put out a big buy reco on the very same banks that I have called insolvent. You can guess what happened, in damn near real time... First, Wells Fargo, JPMorgan `Attractive' on Earnings Outlook, Goldman Sachs Says - then... Stocks in U.S. Climb as Goldman Upgrades Banks, ISM Index Beats Estimates. I know I don't carry that Goldman pedigree, you know being a brother from Brooklyn and all. Yet, Goldman and I have disagreed on this very same issue before. Let me refresh your collective memories...

I was quite suspect of Lehman, among many other investment banks (including Goldman). See "Is Lehman really a lemming in disguise?" (Thursday, 21 February 2008) and Is this the Breaking of the Bear?. Then peruse:

The esteemed Goldman Sachs did not agree with my thesis. Reference the following graph, and click it if you need to enlarge. Notice the tone, and ultimately the outright inidcation of a fall in the posts from February through April 2008, and cross reference with the rather rosy and optimistic guidance from the esteemed Goldman (Sachs) boys during the same time period, then... Oh yeah, Lehman filed for bankruptcy!!!

Now, I'm not saying that I am all that, but I am saying that Goldman is not necessarily all that as well. Or to put it more bluntly, yeah, there are a lot of smart guys over there around Broad and Wall, but there are smart guys all over the city. Intellect is a common commodity. Now, a dearth of conflicted interests is something that is a lot harder to find!!! Calling for such a trait in the Goldman headquarters will result in tumbleweeds rolling through, old western movie style, and echoes bouncing off of the walls amid all of those crickets chirping.

On that note, seek and ye shall find. See Janet Takavoli tell it like it is. I just love a woman that doesn't bite her tongue. Outright FRAUD! That's what she calls today's baking system. I just love it.

 

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