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Monday, April 20, 2009

David versus Goliath

There is an interesting David versus Goliath battle brewing in the blogosphere today. It is between "squeaky clean" financial behemoth Goldman Sachs, and some "dirty, know nothing, taxpaying" individual investment adviser in Florida called Mike Morgan.

Here is a very brief recap of the story so far. Then CEO of Goldman Sachs, Hank Paulson, convinces the regulators to allow Goldman to leverage up to 40:1. The whole 40:1 leverage thing does not work out too well, so Hank Paulson moves over to the U.S. Treasury department and then proceeds to recapitalize Goldman with taxpayer dollars. Nothing wrong with that right? Well Mike Morgan had enough and about a month ago he set up the website Goldman was not too happy with this dose of reality, and have duly started the proceedings to sue. So Mike Morgan, as a fellow taxpaying "little guy", I salute you, and good luck with the court case. I guess I'm at risk of getting named in the lawsuit as an accomplice now, but what the heck, I could use the publicity!

In other news today, Mrs. Sidewalker found 10 cents in the early hours of Sunday morning on her way home from a bachelorette party. Location on map to the right.

-Luke Sidewalker
-Current balance $7.52


Iago de Otto said...

". . . in the early hours of Sunday morning . . ."

That must've been one bachelorette party!!

And congrats to the family for sticking together during these turbulent financial mayhem times by building a million (that's not asking too much) one coin at a time from off of the floors and grounds, be they linoleum or cement, asphalt or tile, of the urban jungles of Planet Earth. Have you tried swimming pools?

Luke Sidewalker said...

Thank you for the support Iago. I have not tried swimming pools as of yet, perhaps when the weather warms up I'll give it a try. I will however draw the line at public fountains, just for the record!

-Luke Sidewalker

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