As much as I would like to write a multi-paragraph rant today about how, as a taxpayer, I feel I have been fleeced by Goldman Sachs (GS.N) and their record breaking earnings announced yesterday. Unfortunately I just don’t have the time right now, as we are setting out on our road trip. And alas, right there, I have become part of the problem, and not part of the solution…

Instead I am just finishing the partition wall made out of our baggage in the back seat of the Sidewalker jalopy. This wall needs to be built so that World War III does not break out in the rear, when Sidewalker Jr. sees Little Miss Sidewalker shove the last piece of his traveling magnetic checkers set in her mouth around Exit 7 on the New Jersey Turnpike.

So without wasting anymore time lets move swiftly on to the ultimate clue in our destination teaser.

Clue #1: The target is a port city on the Eastern seaboard of the United States.
Clue #2: The target is South of the Mason-Dixon Line.
Clue #3: The target is the final port of call for the USS Constellation

-Luke Sidewalker
-Current balance $13.39 (plus pending Starbucks resolution)

I had a good day today, three pennies and a rare quarter, all logged on my cashtrail map to the right. I was feeling particularly happy about bagging my 28 cents. Happy that was until I came across the headlines, and dug further into the AIG bailout.

Long story short AIG (AIG.N) came back for more bailout funds from the Treasury (so I guess consequently Goldman will have another good quarter), they were given another $30 Billion. For those of you keeping score at home that’s a total of $182 Billion so far. Actually that is not totally accurate, this time they only got $29.835 Billion because the government held back $165 Million to offset the outrageous bonus payments last month. Well that showed them didn’t it? I can’t see them paying out anymore taxpayer funded bonuses when the Government takes such heavy handed punitive action such as this! My 28 cents kind of shriveled in my pocket as I was reading the article.

-Luke Sidewalker
-Current balance $7.80

There is an interesting David versus Goliath battle brewing in the blogosphere today. It is between “squeaky clean” financial behemoth Goldman Sachs, and some “dirty, know nothing, taxpaying” individual investment adviser in Florida called Mike Morgan.

Here is a very brief recap of the story so far. Then CEO of Goldman Sachs, Hank Paulson, convinces the regulators to allow Goldman to leverage up to 40:1. The whole 40:1 leverage thing does not work out too well, so Hank Paulson moves over to the U.S. Treasury department and then proceeds to recapitalize Goldman with taxpayer dollars. Nothing wrong with that right? Well Mike Morgan had enough and about a month ago he set up the website www.goldmansachs666.com. Goldman was not too happy with this dose of reality, and have duly started the proceedings to sue. So Mike Morgan, as a fellow taxpaying “little guy”, I salute you, and good luck with the court case. I guess I’m at risk of getting named in the lawsuit as an accomplice now, but what the heck, I could use the publicity!

In other news today, Mrs. Sidewalker found 10 cents in the early hours of Sunday morning on her way home from a bachelorette party. Location on map to the right.

-Luke Sidewalker
-Current balance $7.52

I took a stroll into town yesterday. I was walking by the Rite Aid (RAD.N) again so I decided to cut through the parking lot having found money there previously and what do you know, there was a shiny penny waiting there for me.

Not too long ago Rite Aid was in financial trouble. It appears all they needed to do was send their staff into the parking lots of their stores to rectify their balance sheet woes! I also snagged another penny in downtown Hoboken as advertised on my cash trail map to the right.

In other news today, Goldman Sachs (GS.N) reported Q1 earnings almost double what was expected. I don’t want to be cynical, but as a taxpayer this definitely smells fishy.

-Luke Sidewalker
-Current balance $6.89