Dec 02 2007
Ben Stein — an Interesting Read, Indeed!
In today’s New York Times, Ben Stein writes an article pointing out that Goldman Sachs has sold $ billions in Collateralized Mortgage Obligations (C.M.O.’s) — including during a period where current Treasury Secretary Hank Paulson led the firm. In his piece, Mr. Stein also mentions that while Goldman was selling C.M.O.’s – it was also shorting them through index sales.
We don’t agree with Mr. Stein’s belief that the Fed will be able to save the lending day with injections of liquidity – because (among other reasons) we believe the resulting inflation will be painful and destructive. Also, after raising the “Spock Eyebrow” over the nexus between Treasury and one major investment bank – perhaps he should cast the same discerning gaze towards the Fed and it’s true loyalties.
That said, his article certainly poses quite interesting and intelligent questions — which should make any rational person think long and hard. An interesting read, indeed!
[...] Ben Stein — an Interesting Read, Indeed! - In Sunday’s New York Times, Ben Stein writes an article pointing out that Goldman Sachs has sold $ billions in C.M.O.’s (including during a period where current Treasury Secretary Hank Paulson led the firm). In his piece, Mr. Stein also mentions that while Goldman was selling C.M.O.’s – it was also shorting them through index sales. - vigilant investor [...]
[...] Ben Stein — an Interesting Read, Indeed! - In Sunday’s New York Times, Ben Stein writes an article pointing out that Goldman Sachs has sold $ billions in C.M.O.’s (including during a period where current Treasury Secretary Hank Paulson led the firm). In his piece, Mr. Stein also mentions that while Goldman was selling C.M.O.’s – it was also shorting them through index sales. - vigilant investor [...]