Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Terry Maloney who wrote (397992)	12/2/2009 5:12:28 PM
From: Jeff Jordan	2 Recommendations Read Replies (3) of 436258

LOL....that was my next small business plan to capitalize my 2010 fishing season<g> in 1929, Goldman was almost brought down by a charming manager-partner named Waddill Catchings, who created what was known as the Goldman Sachs Trading Corporation—a story told in detail in The Partnership, by Charles Ellis. It was essentially a trust which used debt to buy other companies, which used more debt to buy still more companies—in other words, a ticking time bomb of debt, in much the same way that modern trusts designed to buy mortgages became ticking time bombs of debt. When the inevitable collapse came, the result tarnished Goldman for decades. The firm’s recovery was in large part due to Sidney Weinberg, who famously joined Goldman as a janitor in 1907. ......janitors always find the best stock tips <g> LOL..Didn't help Dick Nixon....oh, those were plumbers?

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