Wednesday, January 09, 2008

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 Recession

Women 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 Losses

They 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.

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