Goldman Sachs Is The Devil
June 29, 2009
That’s Matt Taibbi’s theory at least. Check out this article in Rolling Stone about how GS has been behind every major bubble, and how there is a commodity bubble brewing (with GS being the chief architect).
On a side note, I’ve heard from clients that there are brokers at a certain CRE brokerage firm positioning their firm as being the “Goldman Sachs” of real estate. I got a good laugh out of that one. Aspirations of ripping people off is it? Hopefully not.
Anyhow, if commodity prices zoom, then replacement cost of real estate goes up, meaning that if and when the market comes back, rents will have more to run before any new supply can afford to come online. But then again, the risk is inherent – if commodity prices go up too much, demand will be suppressed.
I hope Goldman Sachs has good balance.
[via ZeroHedge]
Update: The document was removed from Scribd, but you can download the article from: http://peakwatch.typepad.com/goldman_taibbi.pdf
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Trackbacks & Pingbacks
- Pingback by How Goldman Sachs Took Over The American Economy And The US Treasury | Prose Before Hos on June 29, 2009 @ 1:50 pm
zerohedge also had a response to the article in rs. please remember that taibbi is a writer and not everything is fact. nor was gs the only firm participating. however, i do find to be rather brilliantly evil. so dont think im sticking up for them. what CRE firm is saying their the gs of re? i havent heard anything of that. maybe its just a couple silly brokers that are saying it and not the firm?
agreed, but that’s why I indicated that the view belonged to Taibbi. I don’t agree with all of it and certainly GS wasn’t the only player, but I do agree that GS’s name seems to pop up in the most peculiar of places.
Anyhow, the firm will remain nameless unless somebody else who has heard this wants to comment, but it was some brokers, and probably wasn’t official company line, but brokers are part of the the firm nonetheless. I will clarify my post to say brokers to avoid any confusion though about it being official company line.
thanks for the comment!
forgot Enron? Traders had people shutting down power plants just for speculative purposes.
I just read an article a few minutes ago about oil spiking because of an attack on an oil platform in Nigeria. That jump made some people a lot of money. The next question to ask is how much do you think some Nigerian’s would charge to attack an oil platform? probably not much since i am certain they are hijacking ships for much less in many cases, not to mention that is probably more risky.
http://finance.yahoo.com/news/Oil-jumps-above-71-on-apf-2774808596.html?x=0&sec=topStories&pos=6&asset=&ccode=
Well, bummer they removed the article, it was a good read. I don’t think anyone can read this article and think GS manipulated the market 5 x all by themselves, of course there were other players.
However, I think in the broader sense, that the coming market in “Carbon offsets” is going to be as big a joke as the “global warming” hoax that’s been perpetuated on us.
article was removed, but I found another copy in PDF format I’ve linked to.
Awesome! Thanks for digging this up.
my landlord is overcharging me on my square footage i measured 1750 and also my insurance company measured the same.
he is charging me 2200 square feet. let me add it is no office space it is retail space,
their are offices up stairs it is two stores high, with common area lobb, elevator, hall way and maintance room.
I need to find out how to measure suare footage, this is my question can anyone help me.
@ Kathy Salto:
this is an odd place to ask that. but ill help you out. review the BOMA (building owners & management association) website for square footage rules. they offer a number of ways to calculate square footage. what you need to understand is that there is RENTABLE sf and USABLE sf. the SF inside your suite is usable and your prorata share (percentage of total sf you occupy) of common areas equals your rentable sf. your sf for your lease is generally your rentable sf, although it would be useful to detail each measurement and which measurement is used for calculations (like rent & CAM charges). you will generally have a larger rentable sf because you need to pay for the other amenities the property offers. that is because those features and amenities the property offers are the reason you are at this property and not the one next door. use the BOMA rules and you can start to figure out what your sf actually is.