Regular readers of this blog will know my feelings about Goldman Sachs. Here is a link to this morning’s Telegraph online and to an article which i found particularly amusing – http://www.telegraph.co.uk/opinion/main.jhtml?xml=/opinion/2007/12/16/do1604.xml. Naturally i posted a comment (so far not printed) to the effect that in a previous life i actually managed to penetrate “fortress Sachs” in Fleet Street. Although i was dealing at a very low level in the organisation i was treated with a degree of arrogance and unpleasantness which i have never forgotten.
Before anyone thinks i am waging some sort of vendetta because of this past experience i should add that this happened before i became involved in trading and understood the role that powerful market makers such as Goldman Sachs play in the financial markets. My main site making bread explains this in more detail.
The phrase “Like it or not, one company has now got its tentacles around much of the world’s financial pressure points” from this article just about sums things up.
However, my advice to Goldman’s and, in particular, to those about to enjoy a bonus pool in excess of $20 billion would be to recall that even at the time of their greatest triumphs the emperors and Generals of of Rome would have a humble slave whisper in their ear: look behind you. Remember that you are just a man and that all glory is fleeting.