“Corporations don’t tell lies; someone within the corporation lies.” — John Coffee, Columbia Law Sch
• Investment WatchThe bailout of American banks was supposed to provide money for loans. But — according to a report released last week by a watchdog agency overseeing the financial rescue program — instead of boosting lending, banks have used the funds provided by the government (read: “you and me”) to pay down debt or, believe it or not, buy other banks. So today, I won’t be asking you to look at the market or at a sector or a stock. Instead, I’m going to tell you a story. It’s a fairly involved story, with lots of intrigue; as such I’ll tell it in two parts. It’s a story with many lessons. And it’s a story that is not, unfortunately, unique, in that there are others who could also be placed under a similar revealing lens (see B-of-A mention above). Today we’re going to turn our attention to Part 1 of “A Wall Street Saga.” Today’s installment is “A ‘Goldman’ Opportunity.” Now last year, during the financial crisis with which we all have become intimately acquainted (through no desire of ou
