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John Lounsbury
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John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
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John B Lounsbury CFP
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Global Economic Intersection
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  • Michael Clark
    , contributor
    Comments (11848) | Send Message
     
    It's nice to hear someone else comment on Goldman Sachs' blockbuster bond trading results. How can they NOT do well trading bonds, when they are working with Ben Bernanke who has guaranteed he is going to buy bonds until he's dead or committed to a mad-house, which ever comes first.

     

    Goldman Sachs is in the lead; and Uncle Ben is running interference: of course they are going to do well. Of course, we all now know that the game is fixed; and we will always remember that Wall Street is a game that can be fixed by the house. I think we've lost some of that innocence (naivete) with which we came into this crisis. In the long run, this is not going to do Wall Street any good. And it's not going to do Washington much good either.
    18 Oct 2009, 02:55 PM Reply Like
  • tripleblack
    , contributor
    Comments (13581) | Send Message
     
    I agree.

     

    I must confess I was pretty depressed by the likely impact that the craziness will have upon the economy, until I realized it is likely to prompt the American voter to clean house in Washington, which is the proverbial silver lining in the dark cloud.

     

    So now what do I wish for?

     

    The current politicians to wise up and save themselves, thus perpetuating the source of much of the insanity?

     

    OR not, in which case we take our lumps until we "..throw the bums out"?

     

    On Oct 18 02:55 PM Michael Clark wrote:

     

    > It's nice to hear someone else comment on Goldman Sachs' blockbuster
    > bond trading results. How can they NOT do well trading bonds, when
    > they are working with Ben Bernanke who has guaranteed he is going
    > to buy bonds until he's dead or committed to a mad-house, which ever
    > comes first.
    >
    > Goldman Sachs is in the lead; and Uncle Ben is running interference:
    > of course they are going to do well. Of course, we all now know that
    > the game is fixed; and we will always remember that Wall Street is
    > a game that can be fixed by the house. I think we've lost some of
    > that innocence (naivete) with which we came into this crisis. In
    > the long run, this is not going to do Wall Street any good. And it's
    > not going to do Washington much good either.
    19 Oct 2009, 11:44 AM Reply Like
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