David Sims'  Instablog

David Sims
Send Message
David Sims is the managing member of RidgeHaven Capital LLC. We prefer distressed equities and value investing. The firm was established to manage wealth with an eye on fundamental value, but also an understanding of technical trends and market behavior. David is a Certified Public Accountant... More
My company:
Ridgehaven capital llc
My blog:
  • Remember This From The Beijing Olympics? 0 comments
    Jul 27, 2012 8:57 PM

    (click to enlarge)Back in 2008, then-Treasury Secretary Henry Paulson was attending the Olympic games in Beijing. According to Secretary Paulson's book, On The Brink, while attending the games, he learned about an elaborate scheme to disrupt the U.S. financial markets. The Chinese authorities reported that Russia had urged them to dump Fannie Mae and Freddie Mac bonds onto the open market in an attempt to cause a panic.

    Before that time, we also know that in June 2008, the Treasury Secretary met with some of his former colleagues at Goldman Sachs in a Moscow hotel suite. He told them about the impending failure at Lehman Brothers.

    And then in July 2008, Paulson met with hedge fund managers at Eton Park Capital. He told them about the possible plans for Fannie Mae and Freddie Mac. All the while, the Treasury told the press and shareholders that there was nothing to fear.

    If you connect the dots, you may conclude that the Treasury Secretary, his staff, or his buddies at Goldman Sachs were ultimately responsible for one of the biggest failures in economic secrecy. Loose lips apparently destroy financial markets. Somehow, Russian intelligence must have acquired the knowledge necessary to know that the house of cards was about to collapse. With that knowledge, the Russians could have waged economic warfare.

Back To David Sims' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • Take the $25 billion cash / 1.5 billion shares = $17 per share Remove cash from share price and PE is 7 $GILD
    Oct 27, 2015
  • $GILD has $25 B cash on hand and only bought back $3.1 billion stock, despite low PE of 9 ... Who will they buy?
    Oct 27, 2015
  • Foolish to fist bump over 30% gains on a short that is unbooked. Some of it is in OTC stock. $IMH $IMPHO http://seekingalpha.com/a/22evc
    Aug 31, 2015
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.