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posted on Apr, 17 2010 @ 12:20 AM
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That was a 12 Billion dollar hit to Goldman shareholders today. Buffet is not amused.

:roxor





posted on Apr, 17 2010 @ 12:51 AM
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In round figures Buffet took $1 billion of the loss.

'Today’s chart isn’t rocket science. The SEC announced civil fraud charges against Goldman Sachs (GS), and its shareholders proceeded to lose $12 billion.'

How much corporate fraud does it take mostly going unpunished before regular people get sick of cronyism.



posted on Apr, 17 2010 @ 01:04 AM
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Wow, good result. Almost restores my faith in the hierarchy.... almost!

Nothing like getting a good shallucking by the shareholders to slap you into line.



posted on Apr, 17 2010 @ 01:07 AM
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You don't think that it was some of the shareholders taking a shallucking?

Is that like a bollocking? How is it different?



posted on Apr, 17 2010 @ 01:17 AM
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reply to post by leo123
 

Wow. The 125 dollars I paid to have my septic tank cleaned last week is just chump change. Then again, a billion dollars is just chump change compared to a 12.4 trillion dollar deficit, too.

There's obviously something wrong here, yes?

Of course there is.



posted on Apr, 17 2010 @ 01:39 AM
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Originally posted by nal War
You don't think that it was some of the shareholders taking a shallucking?

Is that like a bollocking? How is it different?


Yes, similar except I can't spell. Should be shellacking.

shel·lack·ing   /ʃəˈlækɪŋ/ Show Spelled[shuh-lak-ing] Show IPA
–nounSlang.
1.an utter defeat: a shellacking their team will remember.
2.a sound thrashing: His father gave him a shellacking for stealing the book.

Source: dictionary.reference.com...

The smart shareholders have dumped their shares leaving the dumb ones holding the bag. Don't you think?

Though I agree that it's a double edged sword - if the shareholders weren't so greedy the corporation itself wouldn't be either.




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