Things do not always go Goldman Sachs’ way

[Joanne98]

The anti-Goldman website www.goldmansachs666.com will be allowed to live.

The bank and www.goldmansachs666.com proprietor, Mike Morgan, had been engaged in a legal scuffle, centring around copyright issues, since April. Now, however, the site will be permitted to continue — albeit with one giant disclaimer to clarify that it is not in anyway affiliated with the actual IB.

From The Telegraph:

In a surprising conclusion in what has been a real life David vs Goliath battle, Florida-based estate agent and investment adviser, Mike Morgan, will be allowed to keep his GoldmanSachs666.com site up and running.

The bank, which on Tuesday reported a 65pc rise in second-quarter profits to $3.4bn (£2.07bn), has backed down after earlier threatening to shut down the site, which is designed to discuss what Mr Morgan considers to be the the bank’s failings.

“Mike Morgan never backs down,” wrote Mr Morgan on the site, the name of which he has previously joked relates to the S&P500’s most recent bear-market low — 666 points — rather than the number of the beast.

“I kicked their butt,” he told The Daily Telegraph.

Indeed. But battling the giant vampire squid is not without its costs…

Mr Morgan’s victory is somewhat pyrrhic, however, given he had a heart attack during the spat, and underwent quadruple bypass surgery soon after.

He is now looking for a successor to take over the site.

http://ftalphaville.ft.com/blog/2009/07/16/62311/things-do-not-always-go-goldman-sachs-way/