So Goldman was surprised and Moody’s was clueless that there was so much junk in the trunk. I also ride a Unicorn to work and ask Jim Cramer for stock advice. Lloyd and company go to the Hill today to defend themselves again and justify their existence in front of cranky old men who don’t understand the difference between a stock and a sock. It should be great theater, and I’m sure CNBC will have a “Countdown to Lloyd” on the lower right of the TV screen.
Credit default swaps are at record highs as Greece starts to really infect the Eurozone. Contagion anyone? China is lower and bank stocks are leading Europe lower this morning. If only Goldman had done organic and not synthetic CDO’s, their cholesterol levels would be in such better shape. Goldman has support around $148.
Enjoy the show