The Rumor Mill is Going Strong
Well, hold on to your hats. The chosen ones have some problems coming. There is talk of about $500 million to $1 billion in writedowns coming. Also, some unusual layoff chatter surrounding the Golden firm. Specifically there is word that they are cutting people beyond their usual trimming of the bottom layer. I’m working on a much bigger post about how Goldman is lucky in addition to being good, but if these rumors turn out to be true, then whatever is in the water there seems to be working.