The Morning Morsel -The Squid Will Be Just Fine

Posted by UpsideTrader
on April 19th, 2010

What kind of society isn’t structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system.- Milton Friedman

Paulson helped Goldman structure the deal and then bet against it, making huge profits when the housing market fell in 2007. But Goldman didn’t tell investors that the hedge-fund firm was involved in putting the deal together, or that it was betting against the structure. Goldman was also notified almost a year ago by the SEC that charges were coming. Blankfein should review his Series 7 exam and brush up on that little document called an 8-K which calls for the admission to shareholders of material fact. Omission is bad, and Goldman omitted. I guess Lloyd felt that honesty would get in the way of doing “God’s work”. Pure sleeze.

Bill Clinton is out this morning saying that Rubin and Summers “mislead” him about derivatives.

My takeaway? The evil squid is a buy.

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Monday, April 19, 2010

Economic

10:00 March Leading Indicators

Events

09:00 Fed’s Evans to speak on financial literacy.

Earnings

Before the Open: AMLN, ACI, BOH, C, LLY, HAL, HAS, IEX, MTB, MMR, SXT, SPF. After the Close: ALGT, ATHR, BRO, CHP, CR, CCK, ELS, IBM, ICUI, LNCR, PKG, PNFP, RLRN, RLI, STLD, WERN, ZION.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.