Tuesday, December 29, 2009
Small Chinese Company Tells Goldman To Take A Hike, Refuses To Pay $80 Million In Derivative Losses
Submitted by Tyler Durden on 12/29/2009 11:53 -0500
Administration Banks C China Chinese Wall Compensation Derivatives Fail Futures Goldman Goldman Sachs GS J. Aron losses money Oil pay Politics prices Reuters Shenzhen Squid US
It appears that even after thoroughly dominating the US legislative, judicial and executive branches, the long tentacles of the squid have been no better than the Mongolian hordes at overcoming the Chinese Wall (which is ironic seeking how easy it is to ignore the same construct internally between the firm's prop and flow traders...and yes, we will be posting our response to Goldman shortly, we have not forgotten). In the meantime, half a world away, a small Chinese power generator, Shenzhen Nanshan Power, is blatantly refusing to honor contracts with Goldman Subsidiary J. Aron for $80 million in derivative losses, and it appears that China itself has decided to stand behind the small company.
... nice to see what is going to happen ...
... it would be funny if the government of china ...
... would "revoke" all licenses to goldman sucks and affiliates ...
:)
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