Maniac in Motion

Global Credit Crisis: $1.2 Trillion and Counting

Wow... it almost seems like the next shoe to drop doesn't even have to be actual writedowns, it only has to be a forecast by the #1 of "one of us" Goldman Sachs to strike fear. Why would they do that? Are their trading desks themselves shorting financials? Why would they sabotage when a few lovely Spring bulls were starting to see new life? DJIA futures already down already down 60 points.

Goldman Sachs forecasts global credit losses stemming from the current market turmoil will reach $1.2 trillion, with Wall Street accounting for nearly 40 percent of the losses???

U.S. leveraged institutions, which include banks, brokers-dealers, hedge funds and government-sponsored enterprises, will suffer roughly $460 billion in credit losses after loan loss provisions, Goldman Sachs economists wrote in a research note released late on Monday.

They're shorting something and leveraging their reputation to drive it down. What was it? Are they trying to drive down their own price to buy back shares? What's the INCENTIVE to disclose?