Goldman Sachs: They've got friends in high places
How well does it pay to have a direct line to the Plunge Protection Team? Just ask Goldman Sachs whose shares are hitting a new all time high today in anticipation of some free love from their friends on the PPT:
The first arrow on the lower part of the chart indicates the day when Goldman started trading up in advance of the fed's "surprise" discount window cut on options expiration Friday. Do you think someone at Goldman knew? Hmmm... I wonder.
It's also curious just how good their results were for the quarter. If the CEO of your company was in direct communication with the Fed and an unnamed member of the Plunge Protection Team, do you think you might have a good idea on what trades to place to take advantage of the fed's "surprise" announcement?
Wall Street has totally bought into Goldman's "specialness" now. The record high in GS today shows Just look how eagerly anticipated today's cut is and how certain insiders and non-insiders are of it happening.
