Word on the Street

If you need any convincing that the whole stock market concept is whacked, I give you Goldman Sachs.

They reported higher-than expected quarterly earnings by basically lowering analysts’ expectations, so that—even though they did worse than last year at this time—the champagne corks have been popping all up & down Wall Street.

Evidently, selling your investment clients stocks that only make a profit for Sachs, & referring to those clients as Muppets, has been good for business. At least it’s less bad for business than had been anticipated.

Also, firing 3000 employees and cutting the cost of their salaries helped.