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Tag Archives: Goldman Sachs

Goldman Sachs comes late to the game

The Financial Times ran a story Monday about Goldman Sachs becoming the first big dealer to orient its business around electronic fixed-income trading and away from “hands-on” order processing in light of new regulations coming from Dodd-Frank. The story claimed that Goldman was a pioneer in this approach: Now Goldman could be one of the first banks to […]

Protect taxpayers and break up the banks

Vermont Senator Bernie Sanders, says “the issue is not whether Congress regulates Wall Street, it’s the degree to which Wall Street regulates Congress.” Time to break up the banks…

AIG’s CDO stuffing

William Cohan, author of “House of Cards” and a Bloomberg Television contributing editor, talks with Deirdre Bolton and Erik Schatzker about how collateralized debt obligations helped drive American International Group Inc. to the brink of disaster. Also today the Federal Reserve released the details of the Maiden Lane holdings… which includes the dreck described in […]

Unraveling the profit puzzle at Goldman Sachs II

The bits and pieces are being assembled into a mosaic which is revealing the true enablers of the global credit crisis… And it’s the trading houses like Goldman Sachs who created financial products, sold them off and then bet against the products they originally created… and often these bits of wizardry were designed to live off […]

Unraveling the profit puzzle at Goldman Sachs I

From PBS’s Lehrer show… ” As part of his continuing series of reports making sense of business and the economy, Paul Solman examines the inner workings of investment powerhouse Goldman Sachs and how it makes money.”

The banks are whining… that is a good start…

It’s “Volcker lite“… I’m very interested in any proposal that has the banks whinging like this Bloomberg video of Rob Nichols, the president of the Financial Services Forum… (an excellent rebuttal to Mr. Nichols arguments from the Epicurean Dealmaker) Here is the German CEO of Deutsche Bank commenting on regulations proposed for US financial markets. He doesn’t like them […]

“Building up another bubble on the bond markets”

“Moral hazard doesn’t exist anymore…”… so sayeth the Euro crowd… President Obama… you’re smart enough to understand “banker code”… call up Adair Turner if you need a decoding kit… This video from Bloomberg shows Karsten Schroeder, chief executive officer of Amplitude Capital LLP, talking about risk-taking by banks and the condition of credit markets.¶ ¶ Central bankers will […]

Regulations should be organized on the premise that credit should be allocated to productive activities

Tax the speculators and create a public bank from therealnews.com Several mintues into the interview Robert Pollin, Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst says the following … ~~~ “… POLLIN: Well, I think the simplest idea, the simplest principle, is the financial system […]

Secretary Geithner should resign

I first published this post on November 21, 2009… I believe it is even more the case now. Timothy Geithner serves Wall Street. Our economy and nation will not be repaired until the control of Wall Street over the government, the Federal Reserve and the nation is broken. US Treasury Secretary Geithner should resign from office. […]

Texas Pacific Group flees Australia ahead of the taxman

From down under we have an incredible story of a US private equity firm dodging taxes made in profit on a recent Australian IPO…and hightailing that cash out of the country before the authorities could judicially claw it back… reporting from The Australian… ~~~”The ATO [Australian Tax Office] says the TPG [Texas Pacific Group] entities owe the commonwealth $452,236,874.70 […]