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September 23, 2008 – Comments (3)

Is it a government bailout? No... A rules-based rescue?! No...

Oh gawd! NO!

It's capitalism! How on earth did that happen in this day and age?

Berkshire to Invest
$5 Billion in Goldman

Goldman Sachs said it will get a $5 billion investment from Warren Buffett, marking one of the biggest expressions of confidence in the financial system since the credit crisis intensified. Goldman also will raise at least $2.5 billion in a public offering. (Goldman statement)

3 Comments – Post Your Own

#1) On September 23, 2008 at 8:30 PM, StatsGeek (28.74) wrote:

A last glimmer of capitalism in America!

If all these companies whose stocks are getting pummelled had real value, they too would succeed in raising capital like Goldman.  If there's one thing I know, it is that investors are greedy.  If they see something they thing is very undervalued, they'll jump in.  There's a reason all these bank stocks are going down, and it ain't the short sellers.

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#2) On September 23, 2008 at 10:37 PM, jesusfreakinco (28.32) wrote:

Amen.  Govt has no business in meddling in free market economics.  Instead, they should be focused on prosecuting the CEOs and CFOs and sending them to jail.  This was the intent of Sarbanes-Oxley.  Send the crooks to jail.  Don't reward their behavior!!!

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#3) On September 24, 2008 at 1:19 AM, TheGarcipian (33.25) wrote:

No kidding. We need to tilt the playing field back to the middle or maybe even in favor of the shareholders. After all, we collectively own the damn companies!  But it is election season, and we all have to look like we're doing something, that we care. Yeah, right -- caring enough to make sure their buddies on Wall Street and K Street are all hooked up to the lifelines. The age of High Reward for High Risk has been dead for some time, at least for the CEOs of these failed major institutions. It's just all High Reward, Low-to-No Risk for them now. All the High Risk is for everyone outside the corporate board room...

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