Jim Cramer sings a love song to Goldman Sachs… he feels that they will be taking a $5 a share writedown and cleaning up a big group of their Level 3 assets… 2 technicians he queried said the shares would bottom at about $40 or approx 1/2 of book value… Cramer believes that GS will find new products to monetize…
Nobody questions the competitive drive and resources of Goldman Sachs… what I question is the regulatory regime that they now exist under at the Federal Reserve… Goldman is a commercial bank now and I would imagine has more onerous restrictions on using the firms capital to engage in certain practices… how exactly will the Fed be overseeing their activities?
Post a Comment