gs reported better than expected earnings this morning before the open of trading but goldman fell sharply without salvation to aig or leh.
daily pivot points for gs held somewhat, although s2 of 118.14 was broken early with a print at 116.
for those of you thinking of investing in gs and perhaps feeling that ex gs ceos hank paulson; treasury secretary and ben bernanke; fed chair would not want their former firm get in trouble. well, i have to tell you that neither of them have any shares of gs, as reported in sec docs.
paul
Like all top gov officials, all assets must be in blind trust to prevent conflict of interest. It doesn't mean that Paulson doesn't care deeply about Goldman. Today the street is questioning the business model of the investment banks. It seems to want them to be reunited with banks as they were before the Glass-Stegall reform era. That is something Paulson can do little about.
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