Goldman was dragged into the Circus Ring of Congress this week to expalin away their actions in Derivatives Trading. I'm of the opinion that not too much positive or substanative progress will be made from the spectacle [see link].
I'm not in the Sofisticated Class of investor to have delt in the type of investment vehicles Goldman available. By the same token, one would think that if one had enough funds to buy into those vehicles, they'd be well aware of the risks and rewards involved. To wit, "there's nothing worse than seeing a big boy cry". These guys are analogous to the Bernie Madoff Suckers, they weren't crying when those hefty % checks were coming in. Lauging at the goys who weren't privy to the deal.
Investors like us, I'd like to think, will get along just fine. Maybe there's such a thing as too sofisticated. We wouldn't buy a stock without knowing what the company did to make money. Our concern will be if the Government restricts trade in the United States so much that WE cannot make money. We all gamble every time we buy, I don't want a Mother Goverment (geared more to handing out dole and entitlements) taking away our right to lose!
[Link to my take on The Spectacle]
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