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Galbraith tells us that GS was late to the investment trust game. Investment trusts were similar to the mutual funds of today, except that they created leverage by selling bonds and preferred stock as well as common stock. Full Article at Firedoglake
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Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, high-flying firms -- companies such as New Century Financial Corp. Full Article at Detroit Free Press
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Rewind the movie to before the stock market lows of March 9: stocks down, corporate bonds down, commodities and gold down, emerging-market currencies down, safe havens in fashion, including the US dollar and government bonds. Full Article at The Big Picture
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The CIT Group, the troubled lender, secured several important agreements on Friday as it prepared for what it had said would be an abbreviated bankruptcy filing to lighten its debilitating debt burden. Full Article at The New York Times
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Hot Stocks What's moving the markets Dow 30 Widely held stocks Are things really getting better? Last quarter, the economy grew by the largest amount since the summer of 2007, but there are signs that things are still getting worse. Full Article at CNN/Money
Related Quotes
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That’s a story I’m confident will be repeated at companies across the country — companies that are currently struggling to borrow money selling their products, struggling to make payroll, but could find themselves in a different position when we start implementing the plan ... Rather than downsizing, th...
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It took years to get into the situation we're in; it's going to take some years to get out of it
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Delaware court decisions are more like the Sermon on the Mount than the Ten Commandments
SOURCE: Philadelphia Inquirer -
No firm should be too big to fail
SOURCE: Philadelphia Inquirer
