Goldman Sachs lost $14.2 Billion today in market capitalization

Share price fell from about $184 to $160 in one day, a market cap loss of $14.2 billion in one day! :rofl:

There's probably more to come as we hear the drip drip of information and possible criminal charges filed.

Today is a good day :toast:

http://www.google.com/hostednews/ap/article/ALeqM5ipDnnshAQtirbhEWnmf0JPf8ZTngD9F4E2500

"as goes the pig, so goes the poke"

the pig are the financials

the poke is the market.

thanks for the link.

Haven't the actions of this Administration and the Bush Administration's money people (Paulson, Geithner, Bernanke et al.) proven that if GS should fail, we tax payers will be forced once again to just BAIL THEM out!?!

After all, they are TOO BIG TO FAIL, right?

Let me know if they don't force us to make up the fourteen billion - I will definitely
be happy as spiked punch to share a :toast: with you.

unless all our legislators and the administration have decided that unemployment looks attractive to them. I know I've seen some shady crap out of Washington the past couple of years but this would stun me.

me is so bogus. The Health Care Giveaways in the recent "Reform" package for the Health Insurance Industry clearly indicate to me what "Reform" is all about. (And the huge surge in stock market prices after the bill was voted in clearly say volumes about what the HC"R" was all about.)

There is a pattern here. As an anti- pesticide activist, from about 1991, I watched as someone in Congress would bring forth a bill that stipulated for harsh regulations on pesticide/herbicide manufacturers. Then the lobbyists show up at the Capital building and the lunch discussion begin, and the legislation would be watered down.

So to me, "Reform" equals legislators getting their need for campaign contributions met. While insuring that industry has the "Reform" structured to their liking.

and except for people whose 401ks are composed of those funds.

Right?

Lesson learned. :hi:

Odds are, you wouldn't. And there are millions of people who contribute to 401ks invested in funds that invest in GS.

:hi: :eyes:

It's unliekly that Goldman Sachs alone will dramatically affect the value of an index fund like the SPY.

Secondly, if people are directly invested in Goldman Sachs, perhaps they should re-balance their portfolios and invest in good solid companies that aren't criminal, like Apple? :shrug:

If you invest in a criminal enterprise, you will be burned.

I made money on Enron. I made money on GS. I made money on Worldcom. I made money on Ford and GM.

Going long on each, not short. Show me my burn marks, please.

I don't know what or how you're invested and I really don't care. You're the one who was worried about Goldman Sachs shareholders.

And I'll be goddamned if I'm going to feel bad about it. Were ALL Enron shareholders evil?

with people about it. I'm sure everyone here is benefiting from GS somehow but just not as visibly as buying and selling their stocks.

As for the GS stock, this seems like a great buy opportunity. It may keep going down the first part of next week but within a couple of weeks these losses should all be made up again.

Do you realize the damage that was caused to this economy when Goldman sold those mortgage investments? Then you have the nerve to say we are benefiting?

Puuulease :eyes:

Chances are if you do any of those things, which I guess it's true that maybe you don't, but if you do then you are helping to support GS every day.

What do they do for me? :shrug:

I know for one thing I pay through the nose at the pump because of artificially inflated gas prices because of Goldman Sachs speculation...

http://www.americanchronicle.com/articles/view/108382

Any bad news for GS is good news for us.

:beer:

we can only hope. i'd love to see an en masse bankruptcy filing by these roaches.

How does that feel Faux viewers?

You're right, days don't get much better than this.

Very amusing.

the CEO will only get 50 million this year?

now can you please explain to everyone why this doesn't mean anything or should I?

Well you see people...a large drop like this is typically caused by fear due to a news story and doesn't really reflect on the value of the company in relation to its stock price. Within a few weeks all of these losses will be gained again and it'll probably still keep going up. Or it'll go down. That's what the market does is it fluctuates with one day or week gains or losses which are only really taken seriously by alarmists and the news media.

It will probably be settled. It's a billion dollars. GS will have to cough up the amount the US Taxpayers gave to the European banks that lost on this transaction and covered their risk with AIG.

But if it helps push through derivatives regulation, I'm all for it.

A lot of people around here seem to delight in ordinary people losing value in their pension funds.

It's time to clean out the crooks. If pension funds are making money off companies engaging in criminal practices, that's a damned shame. But not an excuse for allowing it to continue. If a lot of people were making money off murder for hire, would we allow it to continue so those ordinary people don't lose value? I'm sick of it and it needs to be stopped. A lot of people have lost money over the games the financial institutions have been playing. Time to get rid of TBTF and time to regulate the markets.

investing pension funds in Las Vegas thru some shady deals with some shady characters? Aside from the nice white shirts and 3K suits, what's the difference here?

As I have often said as I watched the meager amounts I was able to save tank in the cyclical crashes, "I can lose my money at the Peppermill (Reno) all by myself and have more fun doing it."

Really, they'd do anything for a billion.

If a day ends with "day" then it's bonus day for the wall street crew.

how much $$ do they have to lose before they are "too big to fail"?