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To: Kirk © who wrote (5418)	6/8/2010 10:59:38 AM
From: DebtBomb	Read Replies (1) \| Respond to of 223156

I have absolutely NO confidence in anyone doing the right thing. The way I see it is....certain people got into power and have now surrounded themselves with others just like them. The "flash crash" ripped people off left and right. It's just the way I see it. Prove me wrong.

To: Kirk © who wrote (5418)	6/8/2010 11:04:09 AM
From: DebtBomb	Read Replies (1) \| Respond to of 223156

Celente has mentioned for a while....your odds are better at Vegas than putting money in the stock market. He thinks the "white shoe" boyz on wall street are criminals....they just don't get in trouble for their dirty deeds. I can easily see the Dow going to 3800. Maybe it will.

To: Kirk © who wrote (5418)	6/8/2010 11:23:49 AM
From: DebtBomb	Read Replies (1) \| Respond to of 223156

Fixing Goldman's PR Problem: CEO Lloyd Blankfein Should Resign, Says Analyst Dick Bove Posted Jun 08, 2010 10:03am EDT by Peter Gorenstein in Investing, Media, Banking Related: gs, xlf, skf, spy, ^gspc Goldman Sachs' reputation is falling faster than the stock market. The Financial Crisis Inquiry Commission slapped the most profitable bank on Wall Street with a subpoena Monday, after saying Goldman failed, "to comply with a request for documents and interviews in a timely manner." According to a survey of Bloomberg subscribers (industry professionals), "Eighty- three percent of respondents said Goldman Sachs's stature diminished in the past six months; the next closest were UBS AG, with 27 percent, and Citigroup Inc., at 26 percent." Of those surveyed, 61 percent said the SEC was right to charge Goldman with fraud, while only 29 percent thought the firm was being "unfairly vilified." Meanwhile, the Goldman bashing has gone global. The Financial Times reports that an article in the China Youth Daily, a state-owned daily newspaper, was full of negative Goldman sentiment. While not mentioning any specific claims, the Chinese paper says, "Many people believe Goldman Sachs, which goes around the Chinese market slurping gold and sucking silver, may have, using all kinds of deals, created even bigger losses for Chinese companies and investors than it did with its fraudulent actions in the US." It all spells trouble in paradise. "Goldman has not yet realized what is necessary to turn this situation around," says Rochdale Securities bank analyst Richard Bove. Here's Bove's prescription for curing Goldman's PR woes: 1. Make management changes. 2. Restructure some business lines to reduce conflicts of interests. 3. Create a new mission statement that focuses on a commitment to the customer. 4. Settle the SEC charges with at least a $1 billion fine. Those management changes Bove refers to should start at the top, he tells Henry in this clip. "I do think [CEO Lloyd] Blankfein probably has to go, not because he doesn't know how to run Goldman Sachs, but because of the fact he has difficulty handling the world outside Goldman Sachs." Bove recommends his replacement be someone "who has a wider vision of the economy and where Goldman sits in it and where Goldman sits relative to the government." As bad as these issues are for the firm Bove tells Henry, they will not impact earnings as negatively as the bank reform rules, which are likely to be law this summer. "It's not the investigation but it's the financial regulation bill" that’s weighing on the stock. Bove currently has a "buy" rating and $200 price target on Goldman Sachs finance.yahoo.com