More Irony from ZH

Posted on | Friday, April 16, 2010 | No Comments

http://www.zerohedge.com/article/cramer-breaks-news-about-goldman-being-long-abacus-no-disclosure-short-tranche-structured-pr

Cramer "Breaks" News About Goldman Being Long Abacus, No Disclosure On Goldman's Short Exposure In The Structured Product
Creamer has just come to the rescue of this former co-workers at Goldman, claiming a "source" has notified him that Goldman was "long" Abacus. Well, duh - that's how structured finance works. They are long one tranche and short another. Cramer should also immediately provide "factual" information to all those who may have bought Goldman on his BS, whether Goldman wasin fact net short via CDS with AIG... Yeah, remember that whole thing about Goldman being short CDOs via CDS underwritten by AIG? Apparently it slipped the mind of Cramer's source. This is yet another semantic loophole abused by the world's greatest wealth destroying stock pumper. And by the way, Jim, take a look at the CDOs that Goldman had protection on AIG with before you "break" any more news, and find out what Goldman's exposure really was: because our sources tell us Goldman was short. Also, this is not even remotely a "game changer" at all, because the SEC's contention has nothing do with whether Goldman was shorting the CDO, but how the CDO was designed in the first place, with the explicit purpose of benefiting one party whose material involvement was not disclosed, and in fact was misrepresented!


Is Zerohedge in any position to demand someone provide factual information when they admit they cannot even provide factual info themselves? Please see ZeroHedges new justification for spewing falsehoods

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