10-12-2010, 02:58 PM
Goldman Accused Over 'Killing' E-Mail:
Quote:Goldman Accused Over 'Killing' E-Mail
last updated: 10 December 2010
The Wall Street Journal reports that the US Senate Permanent Subcommittee on Investigations this week released details of e-mails sent by a senior Goldman executive which, according to Chairman Sen. Carl Levin, looked 'like trading abuse to me'.
The e-mails, sent by Michael Swenson, who ran the firm's asset-backed securities trading desk in 2007, allegedly instructed his fellow traders to 'start killing the (CDS) shorts in the streets (and) cause 'maximum pain....This will have people totally demoralised'.
A spokesperson for Goldman said: 'This type of language sounds awful and is very disappointing, but it does not reflect the reality of what happened. There was no short squeeze'.
Senator Levin is thought to be deciding whether the e-mails merit further investigation.
One trader told Here Is The City: 'This type of macho banter was typical in 2007. It was something senior traders would do to motivate the troops. And most of the time it was just hype. It shows, though, how times have changed - what seemed perfectly normal three years ago is now viewed in a very poor light'.
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14