Matt Taibbi Taibblog So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost pure state subsidy.
Matt Taibbi is the dude that blew the lid off of Goldman's shenanigans in the Rolling Stones article that I mentioned in a previous blog posting. Read along at this link about the GS boys giving "the world the giant finger" as they cash their checks and head for the Hampton's. Torch and pitchfork time grows closer with each passing day.
http://trueslant.com/matttaibbi/2009/07/16/on-goldmans-giganto-profits/#more-529The market didn't do much today except hover around the "head" of the head and shoulders pattern around 940ish on the S&P. If we break above that we could shoot to the moon and if we drop below that on Monday we should settle at the downward sloping right shoulder. I personally prefer to look for animals in the clouds.
My pick for Monday is FAS long @ 49.06 Good Luck.