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Generally, the people who deal with Goldman don't care if Goldman rips off the rubes. As long as they believe they're not being played for a sucker, they see G
by roc 14y ago
Generally, the people who deal with Goldman don't care if Goldman rips off the rubes. As long as they believe they're not being played for a sucker, they see Goldman's otherwise-questionable activities as just part of the game.
The fact that Goldman has such a reputation for playing the people who aren't paying them, plays directly into the very notion that they do have unique insight and talent on offer to those who do pay them.
- lutze 14y agoHaha, it's cute people STILL think that just because they're paying them, they aren't getting shafted too. Before the mortgage crisis, they were advising clients to buy up subprime debts while in secret shorting them hard, because they knew they were toxic. They bet against their own damned clients... at least actual mobsters have SOME semblance of honour! If a Goldman banker is patting you on the back it just means he's trying to steal your shirt.