Saturday, May 01, 2010

Goldman and the Queen Sac

An interesting perspective on the current woes of Goldman Sachs:

Goldman Sachs is very much analogous to a queen in the chess game being played by the ownership class—the richest pools of private capital controlled by multi-generational wealthy families that hover above countries via the central banking system. It has been one of the most potent pieces on the board for many years, its most recent attack being on the entire nation of Greece. But as the endgame comes into view, perhaps the most brilliant play to reach checkmate is now the queen sacrifice. Goldman employees had better be sending their resumes to JP Morgan Chase—a critical chess piece in the endgame that will be protected at all costs.

From "Goldman Sachs, Chess, and the Godfather".

Note that I'm presently in Kyoto, Japan. As Japan celebrates Golden Week, I thought I'd haul myself down to the old capital for some culinary and geisha adventures. Since I'll be terribly occupied, there's no guarantee that I'll be doing any updates for the next coupe of days.

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