Joined: Feb 2009
Con # 1: The Swoop and Squat
Following is the link to a recent Rolling Stone article by Matt Taibbi . . . this is a must read for SiriusXM investors because it exposes the culture of corruption at Goldman Sachs in a no-hold-barred approach.
Here are a couple of teasers:
"The post-bailout era has turned into a chaotic frenzy of high-stakes con-artistry."
"The bank bailout was the same as installing an ATM on the side of the Federal Reserve."
"If I was a Goldman client, I'd question how badly I was getting screwed," says an ex-manager.
The article breaks-down the Goldman Sachs business model into 7 commonly perpetrated cons:
1.) The Swoop & Squat
2.) The Dollar Store
3.) The Pig in the Poke
4.) The Rumanian Box
5.) The Big Mitt
6.) The Wire
7.) The Reload
Here is the link to the article . . it is a must-read: