Friday, April 16, 2010

Haiku - Goldman Sachs makin' headlines

Man, I'm sorry to see the bad press today for the kings of the universe. The SEC launched a lawsuit against Goldman alleging that $GS omitted “key facts related to subprime securities” (i.e. their customer, John Paulson & Co. created and packaged, and then bet against, the subprime MBSs that $GS then sold to investors) eventually resulting in the investors in the CDO losing $1 billion. You can read about it here from the NYT or here from Breitbart.
So I wrote a haiku about it:

Sneaky maneuver,
why defraud your investors?
you'll lose customers.

*I was debating "you've lost people's trust" for the last line, because it's probably more true than the alternative, but settled for the customers bit.