In the News: Goldman and MS Cheer…Freedom, Freedom!
It’s like taking off the training wheels because you only crashed a few times…like having your parents buy you a brand new car because you wrecked your first one…simply put, it’s like our little Goldman and Morgan are all grown up. That’s right, GS and MS are both said to be repaying their $10 billion (each) in TARP funds today. Sure, I make jokes, but this is a big deal – GS and MS, as long as they can keep their respective brands healthy are now in clearly dominant market positions as they no longer have Uncle Obama/Geithner as their right hand men. That said, I think I can safely go out on a limb and assume that if GS or MS run into trouble again, the government crutch will still be available. Best of luck Gentlemen, best of luck indeed. Take a look at the article as well, as it mentions some excerpts from an amusing letter Blankfein wrote to Congress expressing his appreciation to both the government and shareholders, and remorse towards the entire crisis and how it unfolded.
