Off-Topic: GF once again spins a story and is wrong.....

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	Name:	water_watcher -
	Subject:	GF once again spins a story and is wrong.....
	Date:	4/29/2010 12:37:01 PM

The Goldman hearings were a complete embarrassment for the most of the senators asking questions. Goldman did a great job and showed this is not only a witch hunt, but that we have senators that can not even balance their check book and are trying to question the worlds best financial minds.

I watched as much of the hearing as I could ... I was laughing since they obviously do not understand about market making, managing risk, why you may go long and then change and go short. There is not a crime in making money ... and they were dealing with highly educated and knowlegable counter parties that were very willing to take the opposing side of the transaction.

When Levin started in that Goldman received a payment from AIG and that was tax payers dollars ... and they said but we did not make that decision, the government did ... and had AIG defaulted we had an insurance policy to cover that ... we managed our risk. Levin kept saying, but it was still tax payers dollars ... and he was not getting that it was not Goldman's decision to bail out AIG.

You see what happen to Goldman's stock after the hearing ... it zoomed back up to almost where it was before the SEC filed suit. That says that not only do investors back and trust Goldman, but that they believe after the hearing that there is no smoking gun and Goldman did nothing against the law and not even morally wrong.