Weekend Linky Dinks-Who Else But Goldman?

I am going to give my psychoanalyst one more year, then I’m going to Lourdes.
-Woody Allen

“Washington, D.C., April 16, 2010 – The Securities and Exchange Commission today charged Goldman, Sachs & Co. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter.”

So this time Goldman (Fortunate Son) Sachs got caught with John Paulson naked in the woodshed. John Paulson of Paulson & Co, the brilliant manager who was credited with being the genius behind the big short in sub prime is now involved in a bees nest with Goldman, although no charges have been filed against him. Paulson was never really the genius behind the short at all and he also has a bozillion dollar hedge fund that invests in gold He raised a ton, and if it  just trades flat he will make a fortune in management fees alone.

Goldman is probably the post-crash buy of the century as most of these events are usually knee jerk reactions, and where else can you find a public company that can successfully tell the government to pound salt on a regular basis without even a wrist slap. Today, Goldman got the wrist slap.

The politics of this is worthy of an Emmy, an Oscar, a Grammy, a CMT, a Peoples Choice and a Golden Globe. The Administration TAPR’d them to death, then killed the financials a few months ago with the Volcker Rule, our President pontificated proudly on the evils of the banking system (basically Capitalism), and the financials had a mini crash. They subsequently experienced a stellar rally to post crash highs, and now the SEC, who on a good day couldn’t find the nose on their face, comes out with civil fraud charges against Goldman. Sure they are guilty, but it’s populism at its best, obviously (to me anyway) choreographed from a higher place.

Yes, I also hate Goldman, they are too in with the in crowd, even for my liking, Stammerin’ Hank Paulson caught a tax break of biblical proportions when he took the job at Treasury, Geithner is a mole and Blankfein is incredibly unlikeable. They do however exemplify America at its best and worst. Seriously, do you want Jeffries to run things? How about Lazard? We are bankrupt if not for Goldman. Even Warren digs them. The beat will go on. If the crash didn’t get Goldman, this certainly will not….just a walk in the park, but it is time for Blankfein to go.

Have great weekend and enjoy the links (a little light this weekend)

Is Cramer PR for Goldman?

Yesterday was the fifth worse day in Goldman’s history.

GE, 26000 page tax return, zero tax bill.

Loan modifications continue to default.

Why did the SEC decide to get GS on Friday?

How big is Twitter?

iPad banned in Israel?

Earnings so far.

World market valuation at 20 month high.

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