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09:31 PM on 07/02/2009
Such a boldfaced admission.

Perhaps Mayor Bloomberg's Department Of Traffic Terrorism henchwoman Janette Sadik-Khan will hatch a plot to raze Wall Street and convert the space into a pedestrian mall.
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07:41 PM on 07/02/2009
Greed will return and Goldman will be at the forefront of that return they are already preparing to scam on the new cap and trade rules as soon as they pass.

http://rawstory.com/blog/2009/07/rolling-stone-expose-goldman-sachs-behind-every-market-crash-since-1920s/
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ErnestineBass
No longer a cog in The Machine.
10:33 PM on 07/02/2009
Goldman Sachs always seems to be in the right place at the right time.

Coinkydink? I think not.
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sueinmn
07:22 PM on 07/02/2009
Greed NEVER left!

NEVER will!

Terrible headlines.
07:00 PM on 07/02/2009
your headline Greed will soon return is contrary to Gross's statment which read "Greed will come again. But for now, the trend is the other way and it promises to persist for a generation at a minimum. The fact is that American consumers have suffered a collapse in wealth of at least $15 trillion since early 2007.
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Maxiesid
06:52 PM on 07/02/2009
I am having trouble finding the date when it left... so to say it is coming back is a bit confusing.
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marijam
Independent
06:03 PM on 07/02/2009
Who are you trying to kid? You missed the boat. It already has. Actually, it never left.
05:08 PM on 07/02/2009
don't tell Goldman Hachs-the boys are getting 6% raises this year-to $700000 a year salaries
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PhilipTaylor
SEARCH FOR: POLITICS QUICKER THAN ANYWHERE ELSE!
04:52 PM on 07/02/2009
GREED is alive and well at PIMC0, G0LDMAN, and JPM!

A generation! Give me a break - Pure BS! He is trying to remove the pressure on Wall Street!

Simple as that - Remember he still has Greenscam on the payroll! Greed is ALIVE at PIMC0!
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old timer 37
Retired CEO, engineer
05:28 PM on 07/02/2009
Right on! I couldn't believe that anyone in their right mind would think that greed was taking a holiday, much less would stay away for years. Don't know anything else about the man who spouted that drivel, but suspect his only asset is his reputation among other Wall Streeters. I sure wouldn't trust him with my money.
04:12 PM on 07/02/2009
Greed and sex will never good out of fashion. It is in our nature.
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03:23 PM on 07/02/2009
It might just be time for a bond king managing 150bn working for a firm managing 800bn to offer slightly more in terms of transparency than a monthly newsletter with a few quirky asides.

What he says contradicts roughly half of the foundations of finance textbook knowledge or methodology for asset pricing. The same applies to Keynes, of course.

But this is not a time for anecdotal evidence. A little more accountability is in order.

And if there is none to be had, then it doesn't really help much to call that lack 'animal spirits'.

It means that the profession of money management has a problem. Just a thought. Not a new one, however, in this time and day.
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03:29 PM on 07/02/2009
In terms of the treasury White Paper for financial regulation, the bond king's firm looks a lot like a

'Tier 1 Financial Holding company.'

That means that in the future, more than frequent phone calls between treasury and his firm should be institutionalized. According to the White Paper.

It's good that the bond king knows so much. But he needs to share more of his wisdom - in a manner that doesn't amount to merely moving his bets 'into the money'. That's why a lot more transparency is needed. Such as disclosure of net risk exposures inherent in the positions he is taking.
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salsmom
02:51 PM on 07/02/2009
I'm sure that there are those on Wall Street who are figuring out what the next scam will look like.
01:29 PM on 07/02/2009
This reptile is trying to make the case that greed is good. That's gross.
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BlackMagicWoman
it's magic, baby
01:21 PM on 07/02/2009
LOL it left? I'm confused. I must have missed that story.
02:30 PM on 07/02/2009
Never did and never will. When we finally get to the point of understanding that greed is not the best motivator for constructive growth, then I'll trust Wall Street.
01:15 PM on 07/02/2009
Someone please show me that all these Wall Street Masters of the Universe, who almost steered us all over the cliff, are not laughing all the way either to or from the bank.
12:39 PM on 07/02/2009
Who are you trying to kid? It never left.
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kassandrasduplex
01:18 PM on 07/02/2009
Bingo. Their other emotion is fear. But the first one always aoutweighs the second. Always. I am waiting for Zer-O to implement some kind of progressive taxation on those bums. Get back some of the ill gotten loot they sucked out of our economy...