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Keyword: goldmansachs

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  • The Clintons’ Goldman Sachs Gold Mine

    07/04/2014 4:45:40 PM PDT · by 2ndDivisionVet · 3 replies
    Right Wing News ^ | July 3, 2014 | Dick Morris
    The never-ending Clinton money grab is more than $150 million deep. One of their most lucrative benefactors is Wall Street powerhouse Goldman Sachs. Since leaving the White House, Bill and Hillary have collected more than $3 million from the banking goliath in campaign contributions, speaking fees and donations to their private foundation. In addition, Goldman has underwritten some of Hillary’s pet projects, including a partnership with the State Department on a women’s project conceived by Hillary. There’s more — Goldman also made commitments in the millions to the Clintons favorite programs at the Clinton Global Initiative. Of course, that money...
  • "Clinton Inc." Raises Almost $3 Billion, And The Biggest 'Donor' Is...

    07/03/2014 9:44:52 AM PDT · by mojito · 10 replies
    ZeroHedge ^ | 7/2/2014 | Tyler Durden
    "Clinton Inc. is going to be the most formidable fundraising operation for the Democrats in the history of the country. Period. Exclamation point," is how on Republican lobbyist describes the Bill-and-Hillary show and as WSJ reports, in total, the Clintons raised between $2 billion and $3 billion from all sources, including individual donors, corporate contributors and foreign governments. They have raised more than $1 billion from U.S. companies and industry donors during two decades on the national stage through campaigns, paid speeches and a network of organizations advancing their political and policy goals. Financial Services firms have been one of...
  • Obama gives Canada cold shoulder

    04/21/2014 6:18:45 PM PDT · by rickmichaels · 16 replies
    Toronto Sun ^ | APRIL 21, 2014 | Ezra Levant
    Barack Obama waited nine months before replacing the last U.S. ambassador to Canada. The post was empty, and Obama just didn’t care. He doesn’t much like Stephen Harper – compare Obama’s icy body language towards Harper, to Obama’s deep bow when he met the Saudi king, or his high fives with the Hugo Chavez, the late ruler of Venezuela. Don’t feel singled out. That’s how Obama treats many of America’s traditional allies. He spied on German Chancellor Angela Merkel’s cellphone. The White House's bust of Winston Churchill was returned to the United Kingdom when Obama became president. Get used to...
  • Two Billion in Ukrainian gold takes wing, but to whom?

    03/17/2014 10:01:11 AM PDT · by Oldpuppymax · 10 replies
    Coach is Right ^ | 3/17/14 | George Spelvin
    All of the gold in the Ukraine is rumored to have been flown out of Boryspil Airport, Kiev at 2 a.m. Ukrainian time early on March 11 according to an unsubstantiated email CiR just received. The entire Ukrainian gold stash could have taken flight into the New York Fed via an Atlantic air transport airlift according to a former Goldman Sachs hedge fund manager based out of Hong Kong. Here is the text of the Email sent to CiR that carried the warning that “This has not been verified,” and has been linked to King World News Blog, dated March...
  • China: Gold Price Decline Premeditated; US Has Started a Currency War

    01/15/2014 7:33:03 PM PST · by Publius · 91 replies
    China Money Report ^ | 15 January 2014
    China National Gold Group Corporation General Manager Sun Zhaoxue has come out and told the world media that the US is suppressing the gold price. The reason for America’s manipulation of gold is to ensure US Dollar dominance on the world stage. America has by default ended up with the world’s reserve currency and therefore gets the world to work for them in exchange for an ever increasing supply of printed greenbacks. He also went on with an excellent analysis of America’s war against Europe and the Euro using their investment banks. Another good insight from Sun Zhaoxue is that...
  • Washington & Wall Street: Too Big to Fail and the Detroit Bankruptcy

    12/30/2013 2:49:03 PM PST · by george76 · 9 replies
    Breitbart ^ | 27 Dec 2013 | Christopher Whalen
    the bogey man known as “systemic risk” to gain advantage over the other creditors . ... In order for the OTC casino to work, the derivatives contracts had to be given special priority in bankruptcy. Speculative derivative instruments such as credit default swaps (CDS), which caused the failure and government bailout of American International Group, could never exist in significant size were in not for the safe harbor from bankruptcy for derivatives created by Congress in the 1980s and 1990s. Members of Congress from both parties were paid very well for their treachery. ... The intellectual author of the “systemic...
  • Too Big To Fail Banks Are Taking Over As Number Of U.S. Banks Falls To All-Time Record Low

    12/07/2013 10:37:20 AM PST · by SeekAndFind · 21 replies
    TEC ^ | 12/06/2013 | Michael Snyder
    <p>The too big to fail banks have a larger share of the U.S. banking industry than they have ever had before. So if having banks that were too big to fail was a "problem" back in 2008, what is it today? As you will read about below, the total number of banks in the United States has fallen to a brand new all-time record low and that means that the health of the too big to fail banks is now more critical to our economy than ever. In 1985, there were more than 18,000 banks in the United States. Today, there are only 6,891 left, and that number continues to drop every single year. That means that more than 10,000 U.S. banks have gone out of existence since 1985. Meanwhile, the too big to fail banks just keep on getting even bigger. In fact, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger over the past five years. If even one of those banks collapses, it would be absolutely crippling to the U.S. economy. If several of them were to collapse at the same time, it could potentially plunge us into an economic depression unlike anything that this nation has ever seen before.</p>
  • REPORT: A Really Bad Currency Trade Totally Ruined Goldman's Quarter

    11/21/2013 8:11:03 AM PST · by SeekAndFind · 4 replies
    Business Insider ^ | 11/21/2013 | Steve Perlberg
    The Wall Street Journal's Justin Baer reports that a "complex bet in the foreign-exchange market backfired" for Goldman. Specifically, the forex desk bet incorrectly on the value of the dollar versus the Japanese yen, according to the report. Oops! Every quarter, we look at all the major bank's trading revenue from fixed income, currencies, and commodities dubbed "FICC." But major banks don't break out each component of FICC, so when Goldman Sachs reported $1.25 billion FICC net revenue during the third quarter, down 44% from 2012 and 49% from Q2 2013, we only had this explanation from the earnings report...
  • Hillary Clinton’s Lucrative Goldman Sachs Speaking Gigs

    10/31/2013 7:45:51 AM PDT · by Leaning Right · 19 replies
    National Review Online ^ | October 30, 2013 | Alec Torres
    Hillary Clinton spoke at two separate Goldman Sachs events on the evenings of Thursday, October 24 and Tuesday, October 29. As both Politico and the New York Times report, Clinton’s fee is about $200,000 per speech, meaning she likely netted around $400,000 for her paid gigs at Goldman over the course of six days.
  • A Wife Committed to Cruz’s Ideals, but a Study in Contrasts to Him (So it begins)

    10/23/2013 11:43:23 PM PDT · by 2ndDivisionVet · 25 replies
    The New York Times ^ | October 23, 2013 | Ashley Parker
    At first glance, Senator Ted Cruz’s wife, Heidi Nelson Cruz, seems to be just the sort of person the Tea Party supporters who celebrate her husband’s anti-establishment positions love to hate. A vegetarian with a Harvard M.B.A., Mrs. Cruz is a managing director at Goldman Sachs, one of the Wall Street firms that helped set off the populist rage that ushered Mr. Cruz into the Senate in 2012. She works for Goldman in Houston, where she lives with the couple’s two young children, and as her husband’s fame has increased — depending on the audience, he is among the most...
  • Boehner: Obama gambling with economy by refusing to talk

    10/07/2013 11:35:54 AM PDT · by Cincinatus' Wife · 24 replies
    The Hill ^ | October 7, 2013 | Pete Kasperowicz
    Speaker John Boehner (R-Ohio) said Monday that President Obama is putting the economy at risk by refusing to negotiate with Republicans over spending and the debt ceiling. "The president's refusal to negotiate is hurting our economy and putting our country at risk," Boehner said on the House floor. Boehner expressed disbelief at reports that Obama would rather see a debt default than talk to Republicans. "This morning, a senior White House official this morning said that the president would rather default than to sit down and negotiate," he said. "Really?" "The American people expect when their leaders have differences, and...
  • After Shutdown: Administration Gives $445,000,000 to Corporation for Public Broadcasting

    10/04/2013 9:25:05 AM PDT · by IbJensen · 37 replies
    CNS News ^ | 10/3/2013 | Terrence P Jeffrey
    (CNSNews.com) - On the first day of the “shutdown” of the federal government, when members of the U.S. Senate were going to the well of their house to point out that the shutdown would prevent the National Institutes of Health from starting clinical trials for cancer patients and others facing possibly terminal illnesses, the administration was giving $445,000,000 to the Corporation for Public Broadcasting, according to the Daily Treasury Statement. That means PBS NewsHour, National Public Radio and Sesame Street got a taxpayer subsidy during the shutdown, but not would-be cancer patients at the NIH. The $445 million the Treasury...
  • Does Goldman have a better economic pulse than BofA? Why replace the latter in the Dow Index?

    09/11/2013 7:21:38 AM PDT · by SeekAndFind · 5 replies
    Fortune ^ | 09/11/2013 | Nin Hai Tseng
    Dow Jones says a goal of the 30-stock index is to capture the pulse of the broader economy. So why replace a rebounding Bank of America with Goldman Sachs? In the biggest change of the 30-stock index in nearly a decade, three companies will be replaced on the Dow Jones Industrial Average. Alcoa, Bank of America, and Hewlett-Packard are out, Nike, Goldman Sachs, and Visa (V) are in. The shake-up partly reflects declining fortunes and share prices, but the timing and reasons are nonetheless curious when we look at the departure of Bank of America (BAC). Like other big banks,...
  • Dow Jones Adds Goldman Sachs, Visa and Nike: Drops Bank of America, HP and Alcoa

    09/10/2013 7:25:32 AM PDT · by SeekAndFind · 14 replies
    Top News USA ^ | 09/10/2013 | Ryan Bilanich
    Dow Jones Industrial Average has planned adding Goldman Sachs, Visa and Nike. The index will also remove Hewlett-Packard, Bank of America and Alcoa. Investment bank Goldman Sachs would benefit from the addition to the stock index. The changes will be implemented from September 23. Dow Jones includes 30 stocks and gives an indication of the better performing companies in the stock market. The three companies to be removed from the index were trading low on the stock markets. The stocks have underperformed the market. Goldman Sachs stock was up by 2.3 percent in premarket trading. Visa and Nike both were...
  • European banks to quit London if UK left EU: Goldman executive

    09/03/2013 9:53:52 AM PDT · by Olog-hai · 23 replies
    Reuters ^ | Mon Sep 2, 2013 1:30pm EDT
    European banks would leave London “in very short order” if Britain voted to exit the European Union, a senior Goldman Sachs executive said in a newspaper interview published on Monday. Michael Sherwood, a vice-chairman at the bank, said the prospect of a British withdrawal was a real worry given Prime Minister David Cameron’s plans to hold a referendum on the subject if re-elected in 2015. … Goldman’s Sherwood predicted European banks would quickly relocate if Britain did sever its EU ties. “Forget what we would do. Every European firm would be gone in very short order,” he was quoted as...
  • Former Obama czar says we need more fear of global warming (Sunstein)

    08/28/2013 10:07:34 AM PDT · by opentalk · 23 replies
    Daily Caller ^ | August 27, 2013 | Michael Bastasch
    Former White House regulatory czar Cass Sunstein says the international community hasn’t fought global warming because the people aren’t afraid enough. “An understanding of what human beings fear — and what they do not — helps to explain why nations haven’t insisted on more significant emissions reductions,” writes Sunstein, who is now a professor at Harvard Law School. According to Sunstein, one reason people don’t fear global warming is because they don’t associate it with any “particular tragedy or disaster.” … Sunstein notes, that there “are no obvious devils or demons — no individuals who intend to create the harms...
  • Germany not keen to join France and UK in Syria strike

    08/27/2013 1:46:31 PM PDT · by Tailgunner Joe · 50 replies
    euobserver.com ^ | August 27, 2013 | Andrew Rettman
    BRUSSELS - Germany has indicated it will not take part in any military strike on Syria, as France and the UK signal readiness to join a US-led intervention. Philipp Missfelder, the foreign affairs spokesman for German Chancellor Angela Merkel's CDU party, said in the Leipziger Volkszeitung daily on Tuesday (27 August) that: "The [German] army has, through its current international operations, already reached the breaking point." He added that a Western strike could create a "spiral of escalating violence" by drawing Iran and the Lebanese militant group, Hezbollah, deeper into the conflict. He also said military action without a UN...
  • There Was A Guy Hanging Out Near Goldman Sachs Handing Out Donuts And Coffee For A Job This Morning

    08/08/2013 7:54:16 AM PDT · by SeekAndFind · 34 replies
    Business Insider ^ | 08/08/2013 | Julia La Roche
    A tipster sent us this photo of an enterprising young man outside the Battery Park ferry terminal near Goldman Sachs and NYMEX giving out free donuts and coffee so he can get hired. His name is Michael Penn and he's 23 years old. We caught up with Penn over the phone moments ago. He told us that he wants to get into the investment banking industry in any type of business development role. Setting up this stand outside of the ferry terminal by Goldman was one way to get his name out there. "People were coming up to me. They...
  • Former Goldman Trader Fabrice Tourre Found Liable

    08/01/2013 2:06:56 PM PDT · by honestabe010 · 6 replies
    Wall Street Journal ^ | August 1, 2013 | Chad Bray
    A federal jury found former Goldman Sachs Group Inc. GS +2.11% trader Fabrice Tourre liable for misleading investors in a mortgage-linked deal that collapsed during the financial crisis, delivering a historic win for a U.S. regulator eager to prove its mettle inside the courtroom. The panel of nine jurors reached their verdict during the second day of deliberations, finding Mr. Tourre liable on six of seven claims that he violated federal securities law. "It was a long, slow process," said juror Beth Glover, a 47-year-old Episcopal priest, after the verdict. The victory is an important one for the Securities and...
  • President Obama: Climate change plan is balanced and achievable (article written by BHO)

    06/29/2013 9:30:32 AM PDT · by Innovative · 36 replies
    The cost of inaction is too high. On Tuesday, I unveiled a new national plan to confront climate change. It's a plan that will reduce carbon pollution to prevent the worst effects of climate change, prepare our country for the effects we can't stop, and lead the world in combating the growing threat of a changing climate. ... This plan will cut the dangerous carbon pollution that contributes to climate change. ... We will be judged as a people, as a society, and as a country by where we go from here. The plan I put forward to reduce carbon...
  • Goldman Sachs: Keep Calm and Carry On Buying

    05/30/2013 1:22:58 PM PDT · by Night Hides Not · 7 replies
    CNBC ^ | 5/30/13 | Matt Clinch
    Global stocks may have been on a wild ride of late, but the world's biggest investment bank has told investors they should see rising U.S. Treasury yields as positive and should continue to buy equities.
  • BUSTED: Bloomberg News Caught Spying On Goldman Sachs Through Bloomberg Terminals

    05/10/2013 9:11:06 AM PDT · by SeekAndFind · 9 replies
    Business Insider ^ | 05/10/2013 | Michael Kelley
    Goldman Sachs recently confronted Bloomberg LP after learning that reporters for the business news service have been using the company’s terminals to monitor employees of the Wall Street bank, Mark Decambre of The New York Post reports. Specifically, Goldman officials learned that Bloomberg staffers could determine not only which of its employees had logged into Bloomberg’s proprietary terminals but also how many times they had used particular functions, sources told The Post. Form The Post: "In one instance, a Bloomberg reporter asked a Goldman executive if a partner at the bank had recently left the firm — noting casually that...
  • “When People Realize Where All This Gold Is Going—There Will Be A Scramble To Buy It Back”

    04/14/2013 10:21:02 AM PDT · by Diana in Wisconsin · 55 replies
    Bull Market Thinking ^ | 4-12-2013 | Tekoa Da Silva
    I had the opportunity this afternoon to connect with Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital. It was a fascinating conversation, which took place while gold was absolutely collapsing. During the interview, Peter explained that today’s sell-off, triggered by a Goldman Sachs sell recommendation was based on the “false idea” of European Central Bank gold sales hitting the market. Instead he explained, gold is preparing its move “from weak hands to strong hands”, before heading to new all-time highs. When asked his thoughts on the complete panic in the market this afternoon, Peter commented that, ”Gold...
  • Why Are The Banksters Telling Us To Sell Our Gold When They Are Hoarding Gold Like Crazy?

    04/12/2013 12:30:37 PM PDT · by SeekAndFind · 24 replies
    TEC ^ | 04/12/2013 | Michael Snyder
    Why Are The Banksters Telling Us To Sell Our Gold When They Are Hoarding Gold Like Crazy? By Michael, on April 10th, 2013 The big banks are breathlessly proclaiming that now is the time to sell your gold. They are warning that we have now entered a "bear market" for gold and that the price of gold will continue to decline for the rest of the year. So should we believe them? Well, their warnings might be more credible if the central banks of the world were not hoarding gold like crazy. During 2012, central bank gold buying was...
  • Chelsea Clinton May Follow Parents Into Politics

    04/08/2013 2:41:17 PM PDT · by SeekAndFind · 43 replies
    Christian Post ^ | 04/08/2013 | Leonardo Blair
    Chelsea Clinton, the daughter of former President Bill Clinton and former secretary of State Hillary Clinton, might make it a political trifecta for the Clinton dynasty. The former first daughter who currently works as a "special correspondent" with NBC, told that station in an interview on Monday that if she feels at some point in her life that she could make an impact on America, she would consider running for political office. "Right now, I'm grateful to live in a city and a state and a country where I strongly support my mayor, my governor, my president and my senators...
  • Chelsea Clinton to buy $10.5 million apartment on Madison Square Park (In Case You Missed This)

    04/07/2013 12:22:42 PM PDT · by IbJensen · 76 replies
    New York Daily News ^ | March 14, 2013 | Phillip Caulfield
    Chelsea Clinton and her husband, Marc Mezvinsky, are in contract to buy a $10.5 million apartment in The Whitman, at 21 East 26th St. Come June, NoMad residents will be keeping up with the Clintons. Chelsea Clinton and her husband, Marc Mezvinsky, are buying a sleek, $10.5 million apartment overlooking Madison Square Park, sources said. The Whitman, first built in 1924, is near the couple's current place, a rented loft in Gramercy Park. The 5,000-square-foot pad, in The Whitman at 21 E. 26th St., is just a few blocks from the couple's rented Gramercy Park loft. Sources said staying nearby...
  • Obama picks Goldman Sachs exec for ambassador to Canada

    04/04/2013 8:59:46 PM PDT · by Lorianne · 8 replies
    CBC News ^ | 03 April 2013
    U.S. President Barack Obama has selected a partner at the investment firm of Goldman Sachs in Chicago to be the new U.S. ambassador to Canada, CBC News has learned. Sources tell CBC News Network's Power & Politics that Bruce Heyman has accepted the job but still has to pass a vetting process in order to be be formally nominated. His confirmation will be up to the U.S. Congress. If he is approved, Heyman would replace David Jacobson, who has held the position since 2009. Jacobson is also from Chicago. Well known as a high-level fundraiser to Barack Obama, Heyman and...
  • Goldman Sachs says cooperating with Heinz probe (Insider trading investigation)

    02/15/2013 6:15:58 PM PST · by jimbo123 · 13 replies
    Economic Times ^ | 2/15/13 | Reuters
    Goldman Sachs Group Inc is cooperating with a U.S. Securities and Exchange Commission probe into insider options trading in H.J. Heinz Co before the food company announced it was being acquired, Goldman said on Friday.
  • Who Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Is Pulling The Strings

    01/31/2013 9:35:54 AM PST · by B4Ranch · 128 replies
    http://www.worldviewweekend.com/ ^ | January 31, 2013 | Michael Synder
    Does a shadowy group of obscenely wealthy elitists control the world? Do men and women with enormous amounts of money really run the world from behind the scenes? The answer might surprise you. Most of us tend to think of money as a convenient way to conduct transactions, but the truth is that it also represents power and control. And today we live in a neo-fuedalist system in which the super rich pull all the strings. When I am talking about the ultra-wealthy, I am not just talking about people that have a few million dollars. As you will see...
  • Russia calls in big guns to boost investment (Goldman Sachs)

    01/28/2013 3:54:44 PM PST · by Pan_Yan · 4 replies
    Voice of Russia ^ | Jan 28, 2013 14:19 Moscow Time
    The Russian government says it aims to raise its sovereign credit rating this year to an A, where top countries are rated AAA and the lowest are D, and has called in Goldman Sachs to help improve its image to investors around the world. ... "Russia is an open country, safe, we are part of the global economy and global political processes," Medvedev said.
  • Goldman Sachs Made 400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved

    01/27/2013 6:18:38 AM PST · by SeekAndFind · 37 replies
    TEC ^ | 01/25/2013 | Michael Snyder
    Why does it seem like wherever there is human suffering, some giant bank is making money off of it? According to a new report from the World Development Movement, Goldman Sachs made about 400 million dollars betting on food prices last year. Overall, 2012 was quite a banner year for Goldman Sachs. As I reported in a previous article, revenues for Goldman increased by about 30 percent in 2012 and the price of Goldman stock has risen by more than 40 percent over the past 12 months. It is estimated that the average banker at Goldman brought in a...
  • Goldman Sachs And The Big Hedge Funds Are Pushing Leverage To Ridiculous Extremes

    01/20/2013 5:43:44 AM PST · by SeekAndFind · 15 replies
    TEC ^ | 01/14/2013 | Michael Snyder
    Goldman Sachs And The Big Hedge Funds Are Pushing Leverage To Ridiculous Extremes By Michael, on January 14th, 2013 As stocks have risen in recent years, the big hedge funds and the "too big to fail" banks have used borrowed money to make absolutely enormous profits. But when you use debt to potentially multiply your profits, you also create the possibility that your losses will be multiplied if the markets turn against you. When the next stock market crash happens, and the gigantic pyramid of risk, debt and leverage on Wall Street comes tumbling down, will highly leveraged banks...
  • Senators Got 154-Page “Fiscal Cliff” Bill 3 Minutes Before Voting on It

    01/02/2013 5:26:58 PM PST · by Olog-hai · 32 replies
    Cybercast News Service ^ | January 2, 2013 | Matt Cover
    The U.S. Senate voted 89-8 to approve legislation to avoid the fiscal cliff despite having only 3 minutes to read the 154-page bill and budget score. Multiple Senate sources have confirmed to CNSNews.com that senators received the bill at approximately 1:36 AM on Jan. 1, 2013—a mere three minutes before they voted to approve it at 1:39 AM. …
  • You Haven't Realized, Goldman Sachs Is Predicting A Major Economic Turn To Happen In 2013

    12/09/2012 5:07:50 PM PST · by blam · 39 replies
    TBI ^ | 12-8-2012 | Joe Weisenthal
    In Case You Haven't Realized, Goldman Sachs Is Predicting A Major Economic Turn To Happen In 2013 Joe WeisenthalDecember 8, 2012Goldman Sachs continues to dribble out its 2013 forecasts and top trades. And as the firm peels back more and more, it's clear that the forecast is for major change to the economy. This can be seen across multiple calls, from multiple analysts. It starts with top economist Jan Hatzius, who sees, for the first time since the financial crisis, the economy accelerating to above-trend growth in the second half of next year. The call is based on an expectation...
  • White House Deploys Secret Service To Stop Press From Talking To Goldman Sachs CEO

    11/28/2012 4:42:19 PM PST · by kristinn · 16 replies
    BuzzFeed ^ | Wednesday, November 28, 2012 | Zeke Miller
    As CEOs concluded their meeting with President Barack Obama Wednesday evening, the White House deployed three uniformed Secret Service officers to keep the awaiting reporters from speaking with the group, among them Goldman Sachs CEO Lloyd Blankfein.
  • Goldman Sachs CEO: Entitlements must be contained (!!)

    11/25/2012 12:07:33 PM PST · by John S Mosby · 41 replies
    CBS Evening News TV ^ | 11/19/2012 | Scott Pelley
    Stocks shook off their post-election slump Monday, in part because of optimism that the president and Congress will reach a compromise on the nation's budget by the end of the year. If they don't, there will be automatic tax increases and huge cuts in federal spending -- that so-called fiscal cliff. It's a time bomb, according to Lloyd Blankfein, chairman and CEO of Goldman Sachs, and one of the world's most influential bankers. His message to Washington? Make a deal.
  • Congressional probe: Corzine is to blame for MF Global fall

    11/14/2012 1:37:51 PM PST · by aimhigh · 6 replies
    Chicago Tribune ^ | 11/14/2012 | Reuters
    Poor management decisions by MF Global's former CEO Jon Corzine triggered the brokerage firm's collapse, while lax protections for customer funds contributed to the loss of an estimated $1.6 billion of customer money, U.S. congressional investigators have determined.
  • Goldman Issues Strong Sell On Obama As Firm Refuses To Vote With Its Wallet

    10/09/2012 6:34:49 AM PDT · by Perdogg · 5 replies
    Confirming a move that will surprise exactly no one, the firm which is best known in the world for two things: i) arbitraging the gullibility of its clients, and ii) flipflopping faster than anyone when the narrative demands it, the WSJ reports that Goldman Sachs has mutated from Obama's biggest financial backer 4 years ago on Wall Street, to one of the most stingiest firms. "Employees at Goldman donated more than $1 million to Mr. Obama when he first ran for president. This election, they have given the president's campaign $136,000—less than Mr. Obama has collected from employees of the...
  • Here's Goldman's Worst-Possible, Black-Sky Scenario For The Fiscal Cliff

    10/07/2012 4:43:18 PM PDT · by blam · 7 replies
    TBI ^ | 10-7-2012 | Joe Weisenthal
    Here's Goldman's Worst-Possible, Black-Sky Scenario For The Fiscal Cliff Joe WeisenthalOctober 7, 2012What's the worst possible thing that could happen when we hit the fiscal cliff? Here's Goldman's Alec Phillips and Jan Hatzius going through some of the possibilities: Under the baseline “not so good” scenario, fiscal policy would shave nearly 1½ percentage points from real GDP growth in early 2013, compared with ¾ points in 2012. In this case, we expect a renewed moderate GDP growth slowdown to a 1½% pace in early 2013. Under the alternative “bad” scenario, the fiscal drag would rise to nearly 2 percentage points...
  • Bank glooms deepens as Goldman Sachs axes 100 partners

    09/24/2012 9:30:18 AM PDT · by SeekAndFind · 9 replies
    Wealth Manager ^ | 09/24/2012 | by Dylan Lobo
    Banks continue to bear the brunt of the global economic crisis with Goldman Sachs the latest to scale back its workforce. According to the Sunday Times, the investment bank is to make 100 of its partners redundant. The news comes after a number of major investment banks, including Barclays, Deutsche, UBS and Credit Suisse have announced job cuts over the last few months. The move by Goldmans would cut the number of partners on its books by 20% with the firm’s chief financial David Viniar among those being shown the exit door, according to the paper. In its interim results...
  • Goldman’s Blankfein: Poor wealth redistribution behind social unrest in U.S.

    09/20/2012 7:55:10 PM PDT · by Tailgunner Joe · 27 replies
    financialpost.com ^ | September 19, 2012 | John Greenwood
    Lloyd Blankfein may be top dog at one of the world’s most powerful banks, but that doesn’t mean he’s unaware of the everyday trials and tribulations of the so-called 99%. The two goals of the economy should be to “expand the wealth of the world and to distribute [it] fairly,” the chief executive of Goldman Sachs Group Inc. told business leaders in Toronto. “And I think in the United States over the last generation or two we’ve been much better at generating wealth and much less good at distributing it.” In a question and answer session with Royal Bank of...
  • NIRP: The Financial System’s Death Knell?

    08/22/2012 6:10:02 PM PDT · by DeaconBenjamin · 6 replies
    zero hedge ^ | 08/22/2012 17:49 -0400 | Eric Sprott
    On July 18th, 2012, the German government sold US$5.13 billion worth of 2-year bonds at an average yield of -0.06%. Please note the negative symbol in front of that yield number. What this means is that the German government was able to borrow money for less than nothing. When those specific bonds expire in two years’ time, the German government will pay back the original $5.13 billion minus 0.06%. Expressed another way, investors knowingly and willingly bid the German government $5.13 billion in exchange for bonds that will pay no interest and are guaranteed to lose them money on expiration.1...
  • Goldman Sachs: The Economy Is Stronger Than You Think

    08/18/2012 1:17:38 PM PDT · by blam · 18 replies
    Pragmatic Capitalism ^ | 8-17-2012 | Cullen Roche
    Goldman Sachs: The Economy Is Stronger Than You Think 08/17/2012 3:33 AM Cullen Roche Recent strategy notes from Goldman Sachs are consistent with my overall view of the US economy – it’s stronger than the recessionistas have long thought. So the good news is things aren’t yet contracting. The bad news is the economy is still too weak to substantially bring down the rate of unemployment. And the good/bad news is that this reduces the likelihood of QE this year. More from Goldman’s Jan Hatzius (via ZH): “The US economic recovery remains sluggish, but we believe that it will pick...
  • RED ALERT: It's Open Season on All Customer Funds

    08/10/2012 11:13:07 PM PDT · by STARWISE · 78 replies
    Barnhardt.bix ^ | 8-10-12 | Ann Barnhardt
    The NFA is collusion with the Banksters, government and judiciary have achieved their goal. The entire concept of "customer segregated funds" is officially, completely, legally dead. Guys, it is OVER. I know that many of you are still cowering in normalcy bias, unable to deal with reality, unable to face the world as it is, but you have GOT to snap out of it. The marketplace is DESTROYED. You CANNOT be in these markets. All legal protections are now officially gone. Do you remember how I told you about the Ponzi scheme that imploded in 2007 called "Sentinel Management Group"...
  • U.S. will not prosecute Goldman Sachs, employees for Abacus deal

    08/09/2012 4:27:22 PM PDT · by EBH · 30 replies
    Reuters ^ | 8/9/2012 | David Ingram
    Neither Goldman Sachs Group Inc nor its employees will face U.S. criminal charges related to trades they made during the financial crisis that were highlighted in a 2011 U.S. Senate report, the Justice Department said on Thursday. The unusual announcement not to prosecute criminally came in an unsigned statement attributed to the department. Few expected the bank to face criminal charges, but in April 2011, U.S. Senator Carl Levin asked for a criminal investigation
  • Goldman Sachs Tops Corporate Split With Obama, GE Jilts Him

    08/09/2012 12:09:59 PM PDT · by RummyChick · 9 replies
    san francisco chronicle ^ | 9/2012 | salant
    Goldman Sachs Group employees have changed to red from blue. Four years ago, employees of New York-based Goldman gave three-fourths of their campaign donations to Democratic candidates and committees, including presidential nominee Barack Obama. This time, they’re showering 70 percent of their contributions on Republicans. That’s the biggest switch among the 25 companies whose employees have given the most to candidates and parties since 1989, according to data through June 30 compiled by Bloomberg from the Center for Responsive Politics, a Washington-based research group that tracks campaign donations. Goldman isn’t alone; 13 of the companies’ employees are now giving more...
  • Barack Obama: Crony Capitalist in Chief? Part 1

    07/21/2012 6:28:02 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | July 21, 2012 | Political Calculations
    President Obama opened a controversy when he made the following comments during a campaign stop at a fire station in Roanoke, Virginia: If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business. you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money...
  • Debt-Hit Greece 'Running Out Of Medication'

    05/29/2012 10:19:11 AM PDT · by tcrlaf · 29 replies
    SKY ^ | 5-25-12 | Jason Ferrell
    Pharmacies in Greece were on strike earlier this week in protest at the government not paying them for medicines that should be free to customers. Many pharmacies now have huge debts to pharmaceutical companies for drugs they have handed out free of charge. Sky News spoke to one pharmacist who has not been paid by the state for over a year. Evaggelina Rousi, who runs a chemist in Athens, said: "The government owes us 30,000 euros but we have not been paid by them for a year and a half. Many people who rely on regular medication are at risk....
  • US reportedly plans to arm Italy’s drones

    05/29/2012 9:54:24 AM PDT · by opentalk · 4 replies
    Wall Street Journal ^ | May 29, 2012 | WSJ
    The Obama administration plans to arm Italy’s fleet of Reaper drone aircraft, a move that could open the door for sales of advanced hunter-killer drone technology to other allies, according to lawmakers and others familiar with the matter. The sale would make Italy the first foreign country besides Britain to fly U.S. drones armed with missiles and laser-guided bombs. U.S. officials said Italy intends initially to deploy the armed drones in Afghanistan. Lawmakers who question the planned deal say the decision to “weaponize” Italy’s unarmed surveillance drones could make it harder for the U.S. to deny similar capabilities to other...
  • Investors File Suit Against Facebook, Underwriters

    05/23/2012 7:49:43 AM PDT · by Sub-Driver · 10 replies
    Investors File Suit Against Facebook, Underwriters By DAVID BENOIT Three Facebook Inc. investors filed a civil lawsuit Wednesday in Manhattan federal court, alleging the company and its underwriters failed to properly disclose changes to analysts' forecasts made at the underwriting banks. The suit follows reports that analysts at Morgan Stanley and Goldman Sachs Group Inc. cut their revenue forecasts on Facebook amid the investor roadshow, a change that wasn't widely disseminated. Late Tuesday, Massachusetts sent a subpoena to Morgan Stanley following the reports. Several other plaintiffs' lawyers have said they filed suits over the offering in other courts throughout the...