Oooops

That was a 12 Billion dollar hit to Goldman shareholders today. Buffet is not amused.

:roxor

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.

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.

You don't think that it was some of the shareholders taking a shallucking?

Is that like a bollocking? How is it different?

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.

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.