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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