Saturday, July 24, 2010

Has Goldman Sachs Found Its Shill?

A few months back I suggested that because Goldman Sachs is involved in so much shady stuff that the only way they could get positive publicity is if they provided access to someone in media who didn't understand finance, who could provide a puff piece.

Goldman was apparently thinking along the same lines. WSJ is breaking news that Goldman, sometime back, hired Ric Burns to create a documentary about the company.

From a Goldman perspective, Burns is perfect for the role. It appears he knows nothing about finance. His biggest accomplishment seems to be working with his older brother, Ken, on a documentary about the Civil War. On his own he completed a documentary about Andy Warhol, who is probably best known for pissing on a copper sheet and selling it as art. Come to think of it, understanding Warhol may help him understand Goldman.

Hey Ric, here's a tip. Get your camera's rolling and ask the bond traders how much of their trading profits in the first half of 2010 came from trades they made with the Fed.

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