Hey Slap,Originally Posted by slapout9
Link to a BBC interview of a market trader......Euro will crash no matter what because governments do not control the world, big financial institutions like goldman sachs do
http://www.youtube.com/watch?v=aC19f...ayer_embedded#!
Good news and bad
For my 0.02 cents Goldman Sachs is the most formidable investment bank on the planet and perhaps in history. 38,300 employees generated 44.28 billion over the trailing twelve months. Their tangible book value [(total tangible assets-liabilities)/# of shares)] is $132.26 vs todays share price of $99.14. This share price is partially indicative, IMO, of the social penalty for crafting investment tools which have exited the investment arena (where it's a no holds barred fight to the death) and into the retail arena (civilians saving for retirement, weddings, and getting car loans, mortgages, small business loans, etc).
Jamie Dimon's complaints about how, that one time when he was walking to his limo from the bank lobby and that snow flake almost hit him and he thought he was going to freeze...uh, I mean about Basel III and the Vickers report are worth watching. These two particular items might be enough to keep the investment banking soldiers from fighting in the retail banking neighborhoods of the civilians. We will see...
Quantum physics (atom bombs) vs newtonian physics (civil engineering) is similar to investment banking vs. retail banking. Gotta have both, but it's generally not a good idea to mix the two...
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