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May 30, 2006

Should the name be Gambino Sachs? Tues., May 30, 2006, 8:44 AM

Henry Paulson to replace the ‘Snow'man? The Wall Street Journal has reported today that Goldman Sachs Chair & CEO Henry Paulson is likely to be appointed Secretary of the Treasury.

Paulson has had an interesting career that includes time as Assistant to one of the key figures in the Watergate scandal, John Ehrlichman, at a time that was happening.

Isn't it interesting how the ‘Gold'man Sachs continues to be the Big Swinging Dick at the Fed, the NYSE, and the Administration (either Republican or Democrat " remember Bob Rubin).

If this were Mafioso, would the name be Gambino Sachs?

Paulson, Gotti, whatever; we still have to deal with it.


btw, before I get mail (about Gambino Sachs): my grandparents came to Philadelphia around the turn of the previous century from a small mountain town in Italy not far from Naples, called Caserta. My grandfather (Luigi Ciccarelli) came first to North America as a youngster and returned on vacation to Italy at the age of 18. Little did he think they were going to grab an American for military duty. After a couple years of duty he decided to marry a youthful Italian girl (surname Larrocha), age about 16, and they moved to Toronto, away from the possibility in the U.S. of his having to serve twice. The family of his bride had a successful business called IGA Canada (Independent Grocers) -- maybe that's where I got my need for independence -- and he went to work for Canadian Pacific Railroad. Fifty years later, they discovered that he was an illegal immigrant, and CPR wrote to Ottawa to get citizenship by Act of Parliament to go along with the customary watch etc. He used to be the keeper of the old (and warped) rails, and was known as the Old Rail man. Half a century later, his son (my Dad) bought a large property (~20 acres) on a dead end rural road called "Old Rail Road". He actually was living on Highway 2 with a fairly big property but his neighbor up back went bankrupt, so Dad also bought that place, and moved in to the house since it had a great view of Lake Ontario from the ridge plus tennis courts and indoor pool for the kids (that's me and my two brothers). I once had an employee bring me to a fortune teller, who immediately told me that the rail road was part of my history and my future. A couple years later I asked Sir John Templeton what his favorite Canadian stock was and he replied Canadian Pacific, and a couple years after that my Dad bought the place on Old Rail Road. Every word of this is true. I changed my name to Cara (dropping the cic- and -lli and changing the "e" to an "a") -- not because I didn't like the Italian association, but for efficiency sake. Nothing drives me like the need to be organized and efficient (even though in the Odd Couple, I'm the opposite of Felix). My uncle Joe changed his to Cecil -- a fine English name -- to help his financial business, and he was head of Knights of Columbus in West Toronto for years. But I figure that the "a" on the end of my name would keep me grounded to Italy. So today, my brother wrote to say that his son David Ciccarelli has acquired the url voices.com. He's been nominated for entrepreneur of the year in London Ontario for his interactivevoices.com site. It's about podcasting -- he even wrote and sold the first book -- and David has promised to help get me into podcasting properly. So there is an old rail or link in there somewhere. I grew up on Caledonia Road in Toronto -- Little Italy -- and trust me, I had enough fights over names and heritage. I'm Italian and proud of it; so no letters please.

Posted by Posted by Bill Cara on May 30, 2006 08:44:04 AM | Category: Cara Today in the Market

Discourse

Spot gold 655.40.
This might be the real bottom, I'll see if it holds these gains tomorrow, if so, enter into gold stocks again.

Posted by: FirstConsul [TypeKey Profile Page] at May 30, 2006 9:27 AM [link]

As noted before, if one is bullish on gold, buy at key fib retracements ($655 now is one). Next stop is $680 if the trend is up. IMHO.

long gld

Posted by: g034 [TypeKey Profile Page] at May 30, 2006 9:41 AM [link]

What does gold plugs have to do with Bill's story.

The predicatable Bush announcement is lame and a payback as usual.

Posted by: howardl [TypeKey Profile Page] at May 30, 2006 9:59 AM [link]

Also - it goes right to the trust issue. Is there no one with a more neutral conflict of interest that could do this job.

Posted by: howardl [TypeKey Profile Page] at May 30, 2006 10:02 AM [link]

ALOHA !!

howardl posted:
What does gold plugs have to do with Bill's story.

The predicatable Bush announcement is lame and a payback as usual.

Bush has just announced to the financial World and those who are in the know that the US financial/monetary system is in trouble by his last two appointments. Do not forget that prior to this Goldman Sachs appointment he also appointed an ex-Goldman exec as Chief Of Staff and now as head of US Treasury. Who's next to go and be replaced by a Goldman Sachs mafioso hit man? I believe Bernanke is next to go. With this appointment there can be no clearer evidence of the existance of the PPT and a heavily manipulated US stock market, dollar and gold.

As far as a vote of confidence ... today there is no confidence in the US stock market or the US dollar ... both down!

When markets and money are in trouble the logical safe haven is as far away from "paper" as one can get and that is GOLD and SILVER!

Posted by: kaimu [TypeKey Profile Page] at May 30, 2006 11:30 AM [link]

Bill,

I just finished a book called "Sell Now" where the authors main premise is real estate is going to crash and the possible effects it will have on the economy. He discusses the relationship of the federal reserve to the commercial banks and says this is the primary reason our past chairman gave the nonsensical advice to homeowners that ARM's would be a good idea at a 40 year low in rates. This would transfer risk from the commercial banks to the homeowner.

There is no question the Goldman CEO is talented but it seems it will be unlikely his interests will be inline with the majority of our citizens. Little by little big business and government are merging.

One of your posts a few week back I feel is really valuable advice. Invest in companies that have at least 20% ROE and if your own venture cannot do it find others that can.

Posted by: kc [TypeKey Profile Page] at May 30, 2006 12:46 PM [link]

Bill,

This comment is a little aside, but I wanted to thank you for mentioning the aquisition of Voices.com.

And yes, I am more than willing to set you up for podcasting, as well as how to submit to the iTunes Podcast Directory. I'll connect with you over the next few days to get the ball rollin'.

Best,

David

Posted by: voicesdotcom [TypeKey Profile Page] at May 31, 2006 9:51 PM [link]