Tweet me!We are still sniffing smoldering ashes from the still bursting housing bubble, while lying about the condition of our banks amidst a pending global blowup of the triumvirate 3!. Oh, well... I guess if banks can't make money the old fashioned way (lending it with the expectation of a risk adjusted profit based on debt service), then they'll take a page out of the history books and do the snake oil salesman thing ripping off those impressed by flowery stories and legends of the Demi-Gods of Wall Street. Yeah, I know. My left ass cheek needs smooching too. Well, the only question left to ask is....
Whose Gonna Write Me Those Bubble Puts???
Hey, on the positive side, LinkedIn is better off that Facebook. You see, Facebook will have to register the whole computer capable populace of the world to justify the Au plated, Goldman Goldilocks fairytale other wise known as marketing materials. LinkedIn will just have to grow revenues 300% or so for about about a decade to make this JPM/MS fairytale have a happy ending. No matter what, I betcha there will be a moral to these stories for investors, though!
Related links, or what banks do when they can't make money banking (traditional lending):
Reggie on Max Keiser discussing topics such as Goldman's Facebook offering that never was, what happens when its the banks that walk away from a home, phantom banking profits that never were, and more shenanigans that are the tour de force that is today's banking system and economy. To skip directly to the Reggie Middleton interview, move to 11:55 in the video.
[youtube 8a6NdwORK5g]
Related posts:
- Is It Now Common Knowledge That Goldman’s Investment Advice Sucks???
- The Anatomy Of The Record Bonus Pool As The Foregone Conclusion: We Plug The Numbers From Goldman’s Facebook Fund Marketing Brochure Into Our Models which clearly demonstrated that this offering was primarily for Goldman’s bonus pool integrity and basically a ripoff for clients. In the following post, I declared “Here’s A Look At What The Goldman FaceBook Fund Will Look Like As It Ignores The SEC & Peddles Private Shares To The Public Without Full Disclosure“
- Facebook Registers The WHOLE WORLD! Or At Least They Would Have To In Order To Justify Goldman’s Pricing: Here’s What $2 Billion Or So Worth Of Goldman HNW Clients Probably Wish They Read This Time Last Week!
- I Warned That Banks Will Soon Be Forced To Walk Away From Homes… Guess What! Monday, January 17th, 2011
- Less Than 24 Hours After My Warning Of Extensive Legal Risk In The Banking Industry, The Massachusetts Supreme Court Drops THE BOMB! Monday, January 10th, 2011
- As Clearly Forecasted On BoomBustBlog, Housing Prices Commence Their Downward Price Movement In Search Of Equilibrium Scraping Depression Levels Tuesday, December 28th, 2010
- The 3rd Quarter in Review, and More Importantly How the Shadow Inventory System in the US is Disguising the Equivalent of a Dozen Ambac Bankruptcies! Wednesday, November 10th, 2010
- Banks, Monolines, and Ratings Agencies As The Three Card Monte (Wall)Street Hustlers! Its a Sucker’s Bet, Who’s Going to Fall for it in QE2? Tuesday, November 9th, 2010
- JP Morgan’s 3rd Quarter Earnigns Analysis and a Chronological Reminder of Just How Wrong Brand Name Banks, Analysts, CEOs & Pundits Can Be When They Say XYZ Bank Can Never Go Out of Business!!! Sunday, October 17th, 2010
- Reggie Middleton On Max Keiser Discussing Tradable Fraud, Goldman’s Facebook Deal & Phantom Bank Earnings
- Reggie Middleton and Max Keiser Discussing Goldman Sachs, the Super-Powered race to the bottom three, banks as the “new tobacco companies” and Choking on ZIRP
- Facebook Becomes One Of The Most Highly Valued Media Companies In The World Thanks To Goldman, & Its Still Private!
