tag:blogger.com,1999:blog-5880610.post2817859115725284108..comments2024-01-13T18:57:18.243-05:00Comments on Information Processing: Goldman better than OKSteve Hsuhttp://www.blogger.com/profile/02428333897272913660noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5880610.post-18809454200624043482007-12-15T23:36:00.000-05:002007-12-15T23:36:00.000-05:00No, They were not traders --- meaning people with ...No, They were not traders --- meaning people with a book of positions and bottom line P&L responsibility. They were salesman, creating a product that lots of stupid pension funds and the like wanted. There is no doubt that this stupid demand hurt the economy and that those who sold to those stupid people were not helping matters.<BR/><BR/>But, at the end of the day, those folks (if they could) David Kanehttps://www.blogger.com/profile/12252169100218858880noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-58223142053500496812007-12-14T23:18:00.000-05:002007-12-14T23:18:00.000-05:00David,Nice analysis! What about the guys who made ...David,<BR/><BR/>Nice analysis! <BR/><BR/>What about the guys who made money in the last few years packaging and selling cdos? They contributed a lot to earnings for financial firms, but were they helping the economy? ;-)Steve Hsuhttps://www.blogger.com/profile/02428333897272913660noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1257131424623590972007-12-14T17:45:00.000-05:002007-12-14T17:45:00.000-05:00I read between the lines on this one here. All of ...I read between the lines on this one <A HREF="http://www.ephblog.com/archives/004582.html" REL="nofollow">here</A>. All of this related to our debate of a year (?) ago about whether or not successful traders increase GDP, in aggregate. They do.David Kanehttps://www.blogger.com/profile/12252169100218858880noreply@blogger.com