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Browsing Tag
Goldman Sachs
May the Lloyd be with you
That’s how my friend Jeff described the most recent flap over a banker allegedly using religion to defend the industry. If you haven’t caught it, Goldman Sachs CEO Lloyd Blankfein was quoted in the Sunday London Times as saying “we have a…
Let Goldman fail next time
John Gapper had a good piece in the FT yesterday called “Goldman should be allowed to fail.” His conclusion is that Goldman is allowed to game the system. It is a broker-dealer masquerading as a bank. It takes on much more risk than a…
PM Brown rejects BoE Head King’s call for breaking up big banks
If our response focuses only on the symptoms rather than the underlying causes of the crisis, then we shall bequeath to future generations a serious risk of another crisis even worse than the one we have experienced. -Mervyn King,…
Keep your hands off Goldman’s bonuses
The title of this post is somewhat misleading – designed to be provocative to get you to read what I have to say. Indeed, I am going to defend Goldman Sach’s right to pay what it likes to its employees. But, I am also going to defend your…
On Meredith Whitney’s Goldman downgrade
Meredith Whitney downgraded Goldman Sachs from ‘buy’ to ‘neutral’ today. Previously, Goldman had been her only buy recommended stock, all of the others rated neutral or ‘sell.’ Why did she do it? FT Alphaville has the answer:…
Why is Goldman allowed to game the system?
Marshall Auerback sent me a link to a recent Simon Johnson missive about Goldman Sachs. I had already seen and liked this article, but his e-mail prompted me to write this post. My question is: Why is Goldman a bank holding company?…
Forget about Goldman
Don't let government misdirect anger to Wall Street so that government gets a free ride. Government is responsible for the lack of criminal prosecutions, the coziness with big business and the dominance of special interests. We need to…
Goldman crushes earnings estimates
This comes via Bloomberg: Goldman Sachs Group Inc.’s second- quarter profit exceeded analysts’ estimates as record trading and stock underwriting led the company to its highest quarterly profit. Net income in the three months ended…
Bloomberg is coming down hard on Goldman
The video linked below is a must-see piece of journalistic skepticism. The duo at Bloomberg News are discussing the recent alleged theft of trading code by a former Goldman employee Sergey Aleynikov who moved to a hedge fund called Citadel…