Thursday, June 10, 2010

Goldman Sachs Stock at 52-Week Low

Shares of Goldman Sachs fell today  by 2.5% to a new 52-week low of $133.50 on news that  the SEC is now probing a second collateralized debt obligation  deal, called Hudson Mezzanine 2006-1.

The bad news doesn't stop with this company. Did I mention Goldman was a short? Oh yeah, months ago.

Also remember my prediction when GS stock was over $200: When GS breaks under $100 per share, Lloyd Blankfein is a goner.

This is an object lesson as to what happens when you play footsie with the government. When the government finally turns on you, and you don't have the PR skilz and savvy to blow it back  on the government (and Goldman clearly doesn't), your very existence comes into question.

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