Why Does Goldman-Sachs Hate America?
On the heels of Merrill-Lynch. Bloomberg (01.09.08):
"Goldman Sachs Group Inc. said the U.S. economy is probably slipping into recession and forecast the Federal Reserve to respond by slashing interest rates." Goldman Says U.S. Economy Slipping Into RecessionWomen and children first. Bloomberg (01.09.08):
"MBIA Inc., facing the crippling loss of its AAA credit rating, sliced its dividend and will raise $1 billion in the sale of notes. The shares jumped in early trading." MBIA Cuts Dividend, to Raise $1 Billion After LossesThey are hurting. "The value of contracts made to protect securities has fallen by $2.1 billion, creating losses of $200 million last quarter, MBIA said." They're not the only ones, either. Warren's gotta be loving it.