Goldman Sachs Group Inc., one of the top five U.S. municipal bond underwriters, is angering politicians and public-finance officials in New Jersey, Wisconsin, California and Florida by recommending that investors purchase credit-default swaps to bet against 11 states’ debt.
Not sure how exactly they mean this. Are they just covering their, uh, bases, so they'll be right no matter what? Or is it like the subprime fiasco, where they sold MBSs, then shorted them, to make money twice, wherein the latter time was against their clients of the former? Or is it doublespeak like the warnings on cigarette packs that actually cause people to want to smoke?
Whatever it is, I'm guessing those munis don't taste so good anyways.
And please be sure that, whatever else you do, you don't excessively feed the hopelessly cute white dog with the sad face staring straight into your eyes...
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