Schadenfreude, Sweet Schadenfreude

Goldman Sachs partners are being forced to borrow money to cover margin calls on their shares:

Several Goldman Sachs partners have leveraged their Goldman Sachs stock to buy alternative investments such as hedge funds & private equity, and they have done so through their Goldman Sachs brokerage accounts.

But Goldman stock has declined in value by more than 50 percent since last spring, meaning that Goldman Sachs is in the awkward position of making margin calls on its own partners, who can't meet those calls because their alternative investments are underwater and they don't have enough cash on hand.

Now those partners are being forced to borrow money—millions of dollars—to meet Goldman Sachs' own margin calls.

(emphasis mine)

That's some yummy schadenfreude....Until you realize that, even if completely wiped out, they are still worth millions....sigh.