This is amusing.

Goldman Sachs is behaving exactly as you’d expect an investment bank to behave…telling one set of customers one thing and another set something completely different.

In this instance they are warning a set of customers that it would be in their interest to bet against NJ’s ability to pay back their bonds, while helping NJ sell bonds to customers.

You can make the argument of the Chinese Wall, but it is more fun to think that Goldman, having firsthand knowledge of Corzines’s intellectual prowess, knows who they’re dealing with.

Advertisements