A Final Parting Thought.....
The Gardner Brothers and the rest of the Fools are not focusing on the right issue regarding Goldman or the other firms.
The issue you are focusing on is whether GS properly disclosed the risks of the CDO created at the request of John Paulson and manufactured by GS. The issue you should be focusing on is why on earth was a bank in America allowed to KNOWINGLY manufacture a toxic instrument and sell it to our retirement accounts in exchange for hard earned cash?
If a drug company manufactured a drug that killed or injured those that took it.....even if it disclosed this fact.....the executives would go to jail for manufacturing and selling such a destructive product.
What you are soon going to find out is much of what is in your retirement/investment accounts is nothing more than toxic products being misrated and mispriced by the agencies and firms......that the firms were incentivized to manufacture and distribute toxic financial instruments.
When you find this out....you will realize our system is nonfunctional because our entire system is currently dependent on such instruments to operate......and when "reform" is inevitably inposed, a new system will emerge.....probably something very different than the one we currently live under.
It will be at that point that the world as you know it will come to an end.
In the mean time keep watching the ticker....just like all the Fools kept watching their home prices rise....until.......
Could you imagine what would have happened to a Fool who walked into a synagogue full of Madoff clients getting big checks every month and told them that the Jewish Bond was a fraud???????
It has been a pleasure serving you.........good luck to all.
By the way, in case you want to know what Alstry is working on....he is in the start up phase of a new dot.com company.......crazy, the guy that ridiculed the sector ten years ago is now jumping in with both feet.