Interesting article, the bankers at Goldman Sachs who were bailed out by President Obama, think the US economy is going to sink like a stone . Thats despite telling the general public the opposite. They told institutional investors how to benefit from the coming collapse. They also happen to be one of President Obama's largest campaign contributors. Would be interested to know if they are contributing to any of the Republican challenger's campaigns .
By SUSAN PULLIAM And LIZ RAPPAPORT
A top Goldman Sachs Group Inc. strategist has provided the firm's hedge-fund clients with a particularly gloomy economic outlook and suggestions for how these traders can take advantage of the financial crisis in Europe.
WSJ's Shira Ovide has details of a report issued by Goldman Sachs that paints a bleak picture of the global economy. Chris Hondros/Getty Images
In a 54-page report sent to hundreds of Goldman's institutional clients dated Aug. 16, Alan Brazil—a Goldman strategist who sits on the firm's trading desk—argued that as much as $1 trillion in capital may be needed to shore up European banks; that small businesses in the U.S., a past driver of job production, are still languishing; and that China's growth may not be sustainable.
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