Keithpirelli's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/133458/comments http://seekingalpha.com/article/178487-canwest-wins-preliminary-goldman-sachs-challenge?source=feed#comment-808586 808586 Wed, 16 Dec 2009 12:35:43 -0500 http://seekingalpha.com/article/147642-if-goldman-rules-the-world-why-not-buy-shares?source=feed#comment-578908 578908 Wed, 08 Jul 2009 11:19:43 -0400 http://seekingalpha.com/article/105819-fire-hank-paulson-now?source=feed#comment-304962 304962 Boys boys, don’t vorry so much, Goldman Sachs sold and packaged the CDO's to you all so what? Did they force you to buy them? Was there no demand? So they shorted the market of their own toxic waste products, isn't everyone entitled to a little insurance already? So you will see this year we made a few shekels to share amongst ourselves, maybe 18.8 billion dollars or something, maybe 70 million for Mr. Blankfein,who knows, who knows, but we earned it didn't we? Aren’t Mr. Paulson and our own Mr. Bernanke trying to help you all in this little sub prime credit mess, just like kind Mr. Greenspam before them? What about our Mr. Rubin taking the helm at Citibank? You think we will not make some more funds available to you all? Haven’t we always? Now you accuse us of making ze problems we help you to resolve already? Ok, so the interest will be a little higher, but think of our risks already. Nu, stop vorrying all of you, so a couple of million homes get repossessed, it will be better for you all in the long run, have a nice holiday, be happy, next year you can buy a cheaper home, it will get better, its no sin to make a profit....close curtain.
Free unregulated markets helping us all....but not the rest of us, not yet… (sic)

This was first posted last November.......If Goldman's goes bust,the world will be a better place,here is hoping.....]]> Thu, 13 Nov 2008 09:16:28 -0500 Boys boys, don’t vorry so much, Goldman Sachs sold and packaged the CDO's to you all so what? Did they force you to buy them? Was there no demand? So they shorted the market of their own toxic waste products, isn't everyone entitled to a little insurance already? So you will see this year we made a few shekels to share amongst ourselves, maybe 18.8 billion dollars or something, maybe 70 million for Mr. Blankfein,who knows, who knows, but we earned it didn't we? Aren’t Mr. Paulson and our own Mr. Bernanke trying to help you all in this little sub prime credit mess, just like kind Mr. Greenspam before them? What about our Mr. Rubin taking the helm at Citibank? You think we will not make some more funds available to you all? Haven’t we always? Now you accuse us of making ze problems we help you to resolve already? Ok, so the interest will be a little higher, but think of our risks already. Nu, stop vorrying all of you, so a couple of million homes get repossessed, it will be better for you all in the long run, have a nice holiday, be happy, next year you can buy a cheaper home, it will get better, its no sin to make a profit....close curtain.
Free unregulated markets helping us all....but not the rest of us, not yet… (sic)

This was first posted last November.......If Goldman's goes bust,the world will be a better place,here is hoping.....]]> http://seekingalpha.com/article/72056-how-much-are-goldman-s-level-3-assets-worth?source=feed#comment-149780 149780 Sun, 13 Apr 2008 11:11:51 -0400 http://seekingalpha.com/article/58367-can-ubs-leadership-experience-spark-positive-results?source=feed#comment-106891 106891 Dear Thomas,
So the inevitable finally transpired and those dumb, contrived financial inventions, UBS so likes to sell to its investors, have come back to haunt the bank and big time. I should be happy that you finally became trapped in your own greed and gullibility, yet in reality, I feel nauseated that so many deluded people, allowed themselves to be swamped in a sea of CDO junk. I have stated on numerous occasions, the excesses of the property market asset explosion, would eventually implode.
How stupid to offer loans to people with limited financial credibility, against an inflated asset value, with near mythically low interest rates as the initial carrot. Then bundle the loan into tranches of semi-securities to be marketed to other instituitions.The property market starts to contract a little and already the party is over. There is no incentive for anyone to struggle to service an increasing home loan on a decreasing asset, and this will become increasingly painfully apparent in the months to come.Decieved potential homeowners will just walk, or perhaps in many instances, run away. Now the problem is the banks and it did not need a rocket scientist to anticipate the sad outcome. It all happened exactly the same in the UK in 1989/90.It will happen again. Remember discussing Long Term Capital's implosion with me Thomas. How checks and balances were now in place to stop it happening again? How long did Dillon Read last under UBS banks jurisdiction? Longer than a Marks and Spencer prawn sandwich almost? Yet your bank trys to market itself as a leader in wealth management, yet in reality your funds underperform, your forex team lose money for years, and different sections of your bank do not even know each others prognosis for the financial future.
Well you will pleased to know that Gam V US Trading nearly equaled base rates after five years of sucking up commissions and expenses, so only the administrators made money and I lost.. But now UBS has lost a great deal more, including much of its credibility. Will you learn? Next time you try and earn a commission on one of your dumb financial products, will you even try and consider the client, or even try and understand the toxic waste you are selling? I doubt it and you will inevitably pay again. So eventually, I suppose, there really is some natural justice in the sordid financial world, and UBS bank got what it so richly deserved.
You all have a Happy Christmas now, from your favorite ex client.
Sincerely,
Keith Pirelli
PS They are on to you....business.timesonline.c...
]]> Wed, 26 Dec 2007 09:22:12 -0500 Dear Thomas,
So the inevitable finally transpired and those dumb, contrived financial inventions, UBS so likes to sell to its investors, have come back to haunt the bank and big time. I should be happy that you finally became trapped in your own greed and gullibility, yet in reality, I feel nauseated that so many deluded people, allowed themselves to be swamped in a sea of CDO junk. I have stated on numerous occasions, the excesses of the property market asset explosion, would eventually implode.
How stupid to offer loans to people with limited financial credibility, against an inflated asset value, with near mythically low interest rates as the initial carrot. Then bundle the loan into tranches of semi-securities to be marketed to other instituitions.The property market starts to contract a little and already the party is over. There is no incentive for anyone to struggle to service an increasing home loan on a decreasing asset, and this will become increasingly painfully apparent in the months to come.Decieved potential homeowners will just walk, or perhaps in many instances, run away. Now the problem is the banks and it did not need a rocket scientist to anticipate the sad outcome. It all happened exactly the same in the UK in 1989/90.It will happen again. Remember discussing Long Term Capital's implosion with me Thomas. How checks and balances were now in place to stop it happening again? How long did Dillon Read last under UBS banks jurisdiction? Longer than a Marks and Spencer prawn sandwich almost? Yet your bank trys to market itself as a leader in wealth management, yet in reality your funds underperform, your forex team lose money for years, and different sections of your bank do not even know each others prognosis for the financial future.
Well you will pleased to know that Gam V US Trading nearly equaled base rates after five years of sucking up commissions and expenses, so only the administrators made money and I lost.. But now UBS has lost a great deal more, including much of its credibility. Will you learn? Next time you try and earn a commission on one of your dumb financial products, will you even try and consider the client, or even try and understand the toxic waste you are selling? I doubt it and you will inevitably pay again. So eventually, I suppose, there really is some natural justice in the sordid financial world, and UBS bank got what it so richly deserved.
You all have a Happy Christmas now, from your favorite ex client.
Sincerely,
Keith Pirelli
PS They are on to you....business.timesonline.c...
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