LNG 0.00% 4.3¢ liquefied natural gas limited

Ann: LNG Ltd Plans Dual Listing in USA, page-59

  1. 1,268 Posts.
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    Ylwvette, your faith in GS is admirable. But remember a few bits of history. Just prior to the GFC nearly destroying the worlds financial system, GS parcelled up a heap of garbage US mortgages, aka CDO's. They rated them, or had them rated, as low risk, they actively sold them to their clients. They not only sold rubbish to their clients, but to make things worse, the near instant that the investments had cleared their books they took massive short positions on those very investments.
    That is, they aggressively bet on those investments going down in value. Which of course they did, whiping out the savings of many of their own clients. Here in Oz many local governments put their savings into those worthless investments.
    My honest personal opinion of GS is that they would run over their own grandmother if there was a dollar in it.
    I may be wrong too, maybe they have cleaned up their act and become model corporate citizens.........but maybe pigs fly too......
    Last edited by Bortgm: 05/03/15
 
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