So why a sell off now? Here's something for you to chew on.
Assumption #1 - there is a PPT (Plunge Protection Team) consisting of large banks, etc tasked by the Feds with preventing another large meltdown
Assumption #2 - Goldman is a major player on that team, in fact, if Goldman doesn't participate the team is not nearly as effective
Fact #1 - The Obama administration sued Goldman a couple weeks ago
Fact #2 - The Democrats are in obvious trouble coming into this years elections and are desperate to prevent another meltdown between now and then
Now, if you're Goldman, what strategy might you be able to employ to deal with the SEC suit? Hmmmmmm?
Tuesday, April 27, 2010
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