Not in the Dana Carvey way, but more like Elijah on Passover. This applies not only to Goldman Sachs but to lots of other companies in this space.
Jamie Dimon realizes this and has done some bargain shopping. He's a great operations guy and he imagine to get the remaining meat off the bones and left the Fed with the carcass.
I am eyeing Goldman Sachs(GS) really hard, like she's the one girl at a party full of guys. Goldman is trading at a discount to the market and its peers when it comes to P/E, P/CF, P/S, and P/B. Remember, these are the guys who avoided the whole subprime meltdown. I think it's only going to get cheaper when everyone else reports and get killed; it'll be guilty by association. I'm thinking about picking up shares at the end of the week. This may be the last time left to buy Goldman at a single-digit P/E.
As for the latest socialist bailout, I am reminded of the Rolling Stones' "Salt of the Earth." I think it applies here.
Raise your glass to the hard working people
Lets drink to the uncounted heads
Lets think of the wavering millions
Who need leaders but get gamblers instead
Don't we deserve better from our leaders than more corporate welfare for people who are already overpaid? Does anyone know what Alan Schwartz stands to gain, if anything, from selling his piece of crap firm to JPM? I'm sure that the board will reward him handsomely for crashing the plane.
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