Tuesday, February 10, 2009

That's Not Cheaper

The AP is reporting that Goldman Sachs has decided to pay a $600,000 penalty to Mandalay Bay Hotel so that it can move its Technology and Internet conference to San Francisco. Goldman to TARP money so keeping a low profile is now the thing to do.

Las Vegas sounds more boondoggleish but it's cheaper than San Francisco, so I guess they are doing it for the symbolic Brownie points that they may get. The sooner we get out of this phase the better. Banking conferences such as this one bring together institutional investors and companies with Goldman acting as the intermediary, which it is

Let's not totally destroy the capital formation process.

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