Goldman Sachs is making serious money as usual and the stock is back above $200. Whenever I chat with my pal Michael Parekh (retired Goldman partner), I know that Goldman can’t be stopped. No inside information, but the club is the club. Do you really think Goldman has not figured out how to have a trading arm within the new rules of the system?
The message is clear for another generation of bankers…Goldman wins.
I had this feeling that we had seen ‘Peak Goldman’ back in March when I wrote this, but let’s face it, Goldman is the system.
As for Google, which I have been long, the new anti-trust quagmire is going to be a nightmare. Even if Google pays the fines quickly, the fines and lawsuits will keep coming.
I can’t imagine how hard it has been to directly face Google when they turn the screws, but as a consumer that mostly wins, I will never buy the anti-trust stuff in a world of technology. I have seen too many companies disappear.
The Goldman and banking tax on this country will be felt for generations.
I do not believe our society has been a victim of a Google tax.
Investing in stocks and markets is not fair. I actually love that. I assume it.
It is time we refresh the term anti-trust though.
Interesting article Howard. I’m not so sure I agree with you about the lack of a Google tax. Between their collusion/hiring practices, willingness to pay potential competitors a fat salary to work for Google and not innovate, I wouldn’t be shocked that they exhibited more direct anti-competitive behavior. I certainly think Google has been net good for society, but that doesn’t leave their hands clean.