More From Eric Dixon at http://www.NYBusinessCounsel.com
Support Independent Investigations With Bitcoin:
Send Bitcoin Here: 171GMeYRD7CaY6tkXs8dSTjLbAtFazxhVL
Top 50 Twitter Rank of Worldwide Startup Advisors For Much of 2014. Go to my professional site for solutions to your legal, business and strategic problems. The only lawyer who is a co-inventor of multiple, allowed-for-grant patents on blockchain technology!!! Blockchain and Digital Currency Protocol Development --
Wednesday, December 23, 2009
Pete Rose and Goldman Sachs
There is a story in the Wednesday, Christmas Eve 12-24 edition of the New York Times (link here) about certain prominent investment banks like Goldman, Sachs (ticker: GS) selling financial instruments called "collateralized debt obligations" while simultaneously betting against them for their principal trading accounts (meaning Goldman, Sachs could profit if it sold short the very same securities it created and sold to others).
Talk about playing both sides of the fence. This is apparently being investigated.
The article speaks for itself and I need not repeat, paraphrase or even comment on it further. However, it made me think of a prolific baseball hitter, Pete Rose, who was banned from baseball for life for betting against the Cincinnati Reds while he managed them!
Rose must be thinking he missed his true opportunity to cash in, as an investment banker.