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Keyword: goldmansachs

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  • Guess which President has raked in the most Wall Street bucks ?

    10/10/2011 12:28:34 PM PDT · by NoLibZone · 13 replies ^ | 10 10 2011 | Ed Morrissey
    While the professional Left trashes Wall Street, they might want to consider how their current President got elected.  The Sunlight Foundation reports that Barack Obama didn’t just win the Wall Street sweepstakes in 2008 over John McCain — he’s done better at getting Wall Street cash than any other President in the last 20 years: Despite his rhetorical attacks on Wall Street, a study by the Sunlight Foundation’s Influence Project shows that President Barack Obama has received more money from Wall Street than any other politician over the past 20 years, including former President George W. Bush.In 2008, Wall Street’s largesse accounted for...
  • Goldman Sachs: US crude prices at $109 in 2012

    10/04/2011 5:09:06 PM PDT · by Recon Dad · 16 replies
    Fuel Fix ^ | 10/4/11 | Brett Clanton
    U.S. crude oil futures will hit $109 a barrel in 2012 as new pipelines, rail lines and other infrastructure help relieve bottlenecks at a central gathering hub in Oklahoma and carry more oil from Canada and the northern U.S. to refiners on the Gulf Coast and elsewhere, according to a Goldman Sachs forecast. The prediction represents a drop from the investment bank’s previous forecast of $123.50 a barrel and reflects the increasingly anxious outlook for the global economic recovery. The bank also trimmed its 2012 Brent price estimate to $120 a barrel from $130 amid growing fears of a European...
  • Occupy Wall Street is Wall Street. Occupy Wall Street Is Obama And Wrong For America.

    10/03/2011 5:32:32 PM PDT · by PalinCain2012 · 22 replies
    Unite And State ^ | October 3 2011 | Mayer Abbey
    The Occupy Wall Street group at first glance seemed sensible and I even admired their ability to organize and promote their message. I assumed that their agenda was based on an anti corporate socialist system that has been unfair, corrupt and overly leveraged to prop up the wealthy institutions. I believe that we need to let the "too big to fail" fail. I believe that we cannot continually prop up the banks. I thought I was on the same page as the Occupy Wall Street group and it is easy to be deceived. Their message is a blurry message as...
  • Goldman's Jim O'Neill: 'What Is The Matter With Everyone?'

    10/03/2011 6:25:50 AM PDT · by TigerLikesRooster · 10 replies
    TBI ^ | 10/02/11 | Sam Ro
    Goldman's Jim O'Neill: 'What Is The Matter With Everyone?' Sam Ro That's the question Jim O'Neill poses in his weekly letter, which is sarcastically titled Let's Worry About Everything. O'Neill, who is the reason why we say BRICs, argues that last week's economic and corporate news was "benign" and that the market selloff seemed uncalled for: Judging by the price action, market participants seem to be increasingly convinced of imminent recessions in Europe and the US as well as a prolonged period of “Japanisation,” in which positive GDP growth struggles to keep ahead of a weaker underlying growth trend. If...
  • Obama filling more slots with globalism activists

    10/02/2011 1:11:38 PM PDT · by opentalk · 19 replies
    WND ^ | October 1, 2011 | Aaron Klein
    The newly appointed chief of President Obama's Social Innovation and Civic Participation Council is a member of a globalist organization whose activists can be found throughout the Obama administration. Jonathan Greenblatt was appointed the new head of Obama's Social Innovation Unit earlier this month.... WND reported last week that until his appointment to the Obama administration, Greenblatt served as the director of a social justice group funded by George Soros. ..Now it has emerged that Greenblatt is a member of the globalist group Pacific Council on International Policy, or PCIP. He previously chaired PCIP's energy and environment committee and served...
  • Government "Venture Capital" vs. Private Venture Capital

    10/01/2011 11:44:27 AM PDT · by moneyrunner · 14 replies
    The Virginian ^ | 10/1/2011 | Moneyrunner
    Megan McArdle writes in the Atlantic about the difference between government venture capital and private venture capital. By far the biggest difference is not even mentioned. There is a dramatic and critical difference between government loan guarantees and private venture capital (PVC). The PVC investor expects to make a bundle from his investment, typically by getting an equity stake and cashing out when the successful firm goes public. That’s the best case scenario for PVC. If the company fails, they’re out their seed capital. When the government gets into the venture capital business, risking your money and mine, what’s the...
  • World is heading for 'Great Stagnation', says Goldman (new talking point)

    10/01/2011 4:13:07 AM PDT · by TigerLikesRooster · 26 replies
    Telegraph ^ | 09/30/11 | Angela Monaghan
    World is heading for 'Great Stagnation', says Goldman There is a growing risk that the global economy will move from the 'Great Recession' into the 'Great Stagnation', according to economists at Goldman Sachs. By Angela Monaghan, Economics Correspondent 1:18PM BST 30 Sep 2011 Stagnations typically mean long periods of sluggish growth of about 0.5pc, low inflation, rising and sticky unemployment, stagnant house prices, and lower returns on shares, they said. There is a 40pc chance of the current situation developing into a period of stagnation among developed economies, Goldman calculated. "Trends in Europe and the US are so far still...
  • Just One Day Left To Avoid Government Shutdown. Goldman Sach's take on what will happen tonight

    09/22/2011 8:59:16 AM PDT · by SeekAndFind · 4 replies
    Zero Hedge ^ | 09/22/2011 | Tyler Durden
    Today at some point, the House votes (again) on a continuing resolution to fund government past Sept. 30. Will it fail to reach an agreement as it did yesterday, with just a day before yet another break which will likely mean no more votes until the actual shutdown? Goldman explains what to expect from the events this afternoon/evening. From Goldman's Alec Phillips _________________________________________________ Yesterday’s failed vote in the House has led to headlines raising the possibility of a government shutdown, but this seems unlikely. The new fiscal year starts Oct. 1 and Congress has yet to enact any of the...
  • Goldman Sachs to offer $25M to Chicago businesses (Rahmbo-pay to play clicking along)

    09/13/2011 2:23:44 PM PDT · by STARWISE · 8 replies
    Chicago Tribune ^ | 9-13-11 | Wailin Wong
    Goldman Sachs is funneling $25 million in loans and educational grants to Chicago-area small businesses, Mayor Rahm Emanuel announced Tuesday. The investment bank launched its 10,000 Small Businesses initiative in 2009, committing $500 million to provide education, access to capital and business support services to entrepreneurs. The initiative is already running in Houston, Los Angeles, New York, New Orleans and Long Beach, Calif.
  • Goldman Sachs Justifies The Need For More QE3, And Even More Record Wall Street Bonuses

    09/03/2011 7:25:42 AM PDT · by SeekAndFind · 7 replies
    Zero Hedge ^ | 09/02/2011 | Tyler Durden
    We end this busy day of economic buffoonery with Goldman's scorecard for August ("the US economy has not fallen off a cliff", which we translate as a B+, and "far better than expected"), which in turn explains why Goldman, and everyone else, now assumes QE3 (yes, Op Twist is QE3; get over it) is not only a given, but why in Goldman's esteemed opinion, the Fed has at least 3 rationales for pushing for more QEasing. Incidentally, these are as follows: "First, unemployment is far above the Fed’s long-term forecast in the low 5% range; the longer high unemployment...
  • New plan: Let’s sue all the banks! (in response to the damage they did to Fannie and Freddie)

    09/02/2011 7:53:33 AM PDT · by SeekAndFind · 38 replies
    Hotair ^ | 09/02/2011 | Jazz Shaw
    Dear Banks, Remember all of that bailout money you received? Sure hope you saved some of it. US authorities are preparing to sue more than a dozen big banks over claims they misrepresented the quality of mortgages sold during the 2006-7 housing bubble.The US Federal Housing Finance Agency (FHFA), which is overseeing the remains of failed mortgage giants Fannie Mae and Freddie Mac, is reportedly planning to argue that America’s biggest banks failed to check the health of mortgages before they sold them on to investors. The collapse of hundreds of thousands of sub-prime mortgages triggered the 2008 credit crisis...
  • U.S. to sue big banks for billions over mortgage crisis

    09/02/2011 2:28:25 AM PDT · by markomalley · 33 replies
    The Telegraph ^ | 02 Sep 2011
    Bank of America, JPMorgan Chase, Deutsche Bank and Goldman Sachs are among those expected to be named in the lawsuit. The agency that oversees U.S. mortgage markets is preparing to file suit against more than a dozen big banks, accusing them of misrepresenting the quality of mortgages they packaged and sold during the housing bubble, The New York Times reported on Thursday. The Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, is expected to file suit against Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among other banks, the Times reported, citing three...
  • U.S. Set To Sue Big Banks Over Bad Mortgages

    09/01/2011 9:23:39 PM PDT · by Steelfish · 23 replies
    MSNBC ^ | September 01, 2011 | NELSON D. SCHWARTZ
    U.S. Set To Sue Big Banks Over Bad Mortgages Agency says B of A, JPMorgan Chase, Goldman Sachs, others misrepresented securities By NELSON D. SCHWARTZ The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation. The Federal Housing Finance Agency suits, which are expected to be filed in the coming days in federal court, are aimed at Bank...
  • Even Goldman Sachs Secretly Believes That An Economic Collapse Is Coming

    09/01/2011 9:01:59 PM PDT · by blam · 29 replies
    TEC ^ | 9-1-2011
    Even Goldman Sachs Secretly Believes That An Economic Collapse Is ComingSeptember 1, 2011 Even Goldman Sachs is doing it again. Goldman is telling the public that everything is going to be just fine, but meanwhile they are advising their top clients to bet on a huge financial collapse. On August 16th, a 54 page report authored by Goldman strategist Alan Brazil was distributed to institutional clients. The general public was not intended to see this report. Fortunately, some folks over at the Wall Street Journal got their hands on a copy and they have filled us in on some of...
  • Former Wall Street Obama Backers Switch to Romney (Big wigs and power brokers for Romney)

    08/24/2011 4:40:59 AM PDT · by Halfmanhalfamazing · 28 replies
    The Blaze ^ | August 23rd | Jessie Abrams
    A large group of 2008 Barack Obama supporters are now banking on Mitt Romney for the upcoming presidential election. That’s according to a report from Fox News that says a shift in Wall Street support could mean as much as a $150,000 boost for Romney’s campaign. “I think Romney could at least split Wall Street with Obama, which is something McCain really didn’t do,” said Charlie Gasparino, a reporter for Fox Business News. None of the expected bank presidents showed up to a recent fundraiser for President Obama, he added.
  • Why Goldman's CEO Lloyd Blankfein hired a criminal defense lawyer

    08/23/2011 6:48:13 AM PDT · by SeekAndFind · 8 replies
    New York Post ^ | 08/23/2011 | John Crudelle
    What’s Lloyd Blankfein afraid of? You can pick any number of things that could have caused the chairman and CEO of Goldman Sachs to go out and hire an expensive criminal defense attorney, but his most pressing concern has to be a guy named Rajat Gupta. Gupta was a friend of Raj Rajaratnam, the founder of Galleon Group who is going to jail for insider trading. Gupta was also an esteemed member of Goldman’s board of directors and would have been aware of anything important that was occurring at Goldman Sachs. Phone conversations with Gupta that came up during Raj’s...
  • Exclusive: Goldman CEO hires high-profile attorney

    08/22/2011 2:38:27 PM PDT · by mojito · 18 replies
    Reuters ^ | 8/22/2011 | Andrea Shalal-Esa
    Goldman Sachs Chief Executive Lloyd Blankfein has hired Reid Weingarten, a high-profile Washington defense attorney whose past clients include a former Enron accounting officer, according to a government source familiar with the matter. Blankfein, 56, is in his sixth year at the helm of the largest U.S. investment bank, which has spent two years dodging accusations of conflicts of interest and fraud. The move to retain Weingarten comes as investigations of Goldman and its role in the 2007-2009 financial crisis continue. The U.S. Securities and Exchange Commission scored a $550 million settlement against the bank in a fraud lawsuit in...

    08/10/2011 10:40:30 AM PDT · by SeekAndFind · 24 replies
    Business Insider ^ | 08/10/2011 | Courtney Comstock
    JP Morgan Chase CEO, Jamie Dimon just gave a very optimistic speech on CNBC. He refuted rumors that the S&P downgrade will make it harder for banks like JPMorgan to make money on CNBC right now. "The S&P downgrade is just an opinion," he says. The market leaders he knows don't use the S&P to make their decisions, he says. He also added, "The U.S. needs to show fiscal discipline." But he says, "I'm hopeful that we'll" start to do that soon. Then he brought out the good ol' American spirit. "I think we need America to do what America...
  • Goldman Sachs Goes Short The US Dollar On QE3

    08/10/2011 8:18:29 AM PDT · by SeekAndFind · 3 replies
    Zero Hedge ^ | 08/10/2011 | Tyler Durden
    Yesterday Goldman finally made it clear that Bill Dudley's marching orders are given: QE3 or no soup for you. Well, it didn't take long for the order from top to hit Goldman's FX desk, which has just issued this logical note: "Going short the USD on additional Fed easing." Odd, no easing has yet been announced, and according to so many none will come. But Goldman said so. So it must be. From Thomas Stolper: We have long argued that structural imbalances in the US will lead to more Dollar weakness. There are two main transmission channels: First, the current...
  • vs. Goldman Sachs: A True David & Goliath Story

    08/01/2011 2:44:06 PM PDT · by mgist · 9 replies ^ | 2011 | Patrick ByrneChairman and CEO of Overstock
    For six years has waged a war to expose Wall Street mischief. We did not go looking for a fight, but our company was attacked, and we learned we were not alone: the same manipulation-for-profit tools that Wall Street had deployed against us had also been deployed against many American companies, harming job creation, innovation, and economic growth. We knew that if left unchecked and unexposed, Wall Street's games could ultimately damage U.S. capital markets. So in 2005 and 2007 we filed two lawsuits. The first case was against a hedge fund (Rocker Partners) and hatchet-job-for-hire research team (Gradient...
  • vs. Goldman Sachs: A True David & Goliath Story

    08/01/2011 2:43:51 PM PDT · by mgist · 2 replies ^ | 2011 | Patrick ByrneChairman and CEO of Overstock
    For six years has waged a war to expose Wall Street mischief. We did not go looking for a fight, but our company was attacked, and we learned we were not alone: the same manipulation-for-profit tools that Wall Street had deployed against us had also been deployed against many American companies, harming job creation, innovation, and economic growth. We knew that if left unchecked and unexposed, Wall Street's games could ultimately damage U.S. capital markets. So in 2005 and 2007 we filed two lawsuits. The first case was against a hedge fund (Rocker Partners) and hatchet-job-for-hire research team (Gradient...
  • Goldman Sachs Traders Quitting The Bank In Droves

    07/29/2011 8:32:18 AM PDT · by SeekAndFind · 4 replies
    Business Insider ^ | 07/29/2011 | Katya Wachtel
    "More than a dozen traders have quit Goldman Sachs... North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up," Lauren Tara LaCapra reports at Reuters. Apparently while salespeople have been rewarded with better compensation -- as well as promotions -- traders have largely been ignored as Goldman moves to focus on client trading. "[T]raders who left Goldman's rates desk complained they were hamstrung by aggressive risk managers who limited position sizes and second-guessed trades," Reuters reported. "They also said they were being...
  • Goldman Sachs profit misses expectations

    07/19/2011 5:53:10 AM PDT · by markomalley · 1 replies
    Reuters ^ | 7/19/11
    Goldman Sachs Group Inc's (GS.N) net income rose during the second quarter but fell short of lowered market expectations as fixed income trading revenue dropped sharply. The biggest U.S. investment bank by assets earned $1.05 billion, or $1.85 per share, more than double the $453 million, or 78 cents per share, of a year earlier, Goldman said on Tuesday.
  • The Goldman Sachs Bonus Collapse Is Underway

    07/19/2011 7:37:03 AM PDT · by SeekAndFind · 7 replies
    Business Insider ^ | 07/19/2011 | Katya Wachtel
    Goldman Sachs released some disappointing earnings numbers this morning. In the report were details of the drop in compensation costs. According to the report, compensation expenses -- which includes salaries, bonuses and benefits -- fell to $3.2 billion for the second quarter of 2011. That represents a big 16% decline from this time last year. Compare that to Q1 compensation costs this year, which clocked in at $5.23 billion and was only down 5% compared to Q1 2010.
  • Too Big To Fail?: 10 Banks Own 77 Percent Of All U.S. Banking Assets

    07/18/2011 2:47:30 PM PDT · by lbryce · 11 replies
    The Economic Collapse ^ | July 18, 2011 | Staff
    Back during the financial crisis of 2008, the American people were told that the largest banks in the United States were "too big to fail" and that was why it was necessary for the federal government to step in and bail them out. The idea was that if several of our biggest banks collapsed at the same time the financial system would not be strong enough to keep things going and economic activity all across America would simply come to a standstill. Congress was told that if the "too big to fail" banks did not receive bailouts that there would...
  • Goldman Sachs cuts U.S. second-quarter growth estimates (Q2 GDP slashed to 1.5%; Q3 cut to 2.5%)

    07/18/2011 2:44:42 PM PDT · by Qbert · 11 replies
    Reuters via Yahoo Finance ^ | 7/18/2011 | Reuters
    WASHINGTON (Reuters) - Goldman Sachs has cut its forecast for U.S. second-quarter growth to 1.5 percent from 2 percent, citing weak consumer spending. The downgrade follows last week's raft of weak reports on retail sales, manufacturing and consumer sentiment, which have raised concerns that some of the factors impeding growth are no longer of a temporary nature, as previously thought. "Some of this weakness is undoubtedly related to the disruptions to the supply chain -- specifically in the auto sector -- following the east Japan earthquake," said Goldman Sachs Chief Economist Jan Hatzius in a weekly note to clients issued...
  • Goldman Favors Romney Over Obama in Race for Wall Street Funds

    07/17/2011 1:47:06 PM PDT · by Hojczyk · 10 replies
    Right Speak ^ | July16,2011
    A year after President Barack Obama signed into law the most extensive financial regulations since the Great Depression, Wall Street so far is putting its political money elsewhere. Employees of Goldman Sachs Group gave Republican presidential candidate Mitt Romney $238,250 in the last three months, more than workers at any other company, according to a computer-assisted analysis of Federal Election Commission data. Obama took in $10,113. Four years ago, employees of New York-based Goldman gave $994,795 to Obama and $234,275 to Romney, according to the Center for Responsive Politics, a Washington-based research group. For both candidates, it was more than...
  • Why Goldman Sachs Just Downgraded The US Economy (Investment Firm Pessimistic about the future)

    07/17/2011 10:00:59 AM PDT · by SeekAndFind · 28 replies
    Business Insider ^ | 07/16/2011 | Joe Weisenthal
    On Friday, Goldman's Jan Hatzius downgraded the US economy. Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of 2011 to 1.5% and 2.5%, respectively, from 2% and 3.25%. Our forecasts for Q4 and 2012 are under review, but even excluding any further changes we now expect the unemployment rate to come down only modestly to 8¾% at the end of 2012. What, specifically, prompted the worry? Two specific datapoints this week. The latest Empire Manufacturing Index went into shrinkage for the second straight month. More worrisome...
  • Panic at the White House? Gloomy Goldman Sachs sees high unemployment, possible recession

    07/16/2011 4:34:46 PM PDT · by george76 · 57 replies
    Reuters ^ | Jul 16, 2011 | James Pethokoukis
    Last night in a new report, Democrat-friendly Goldman Sachs dropped an economic bomb on President Obama’s chances for reelection ... " Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of 2011 to 1.5% and 2.5%, respectively, from 2% and 3.25%. Our forecasts for Q4 and 2012 are under review, but even excluding any further changes we now expect the unemployment rate to come down only modestly to 8¾% at the end of 2012... the slowdown of recent months goes well beyond what can be explained with...
  • Goldman Sachs downgrades Obamanomics. Predicts 1.5% Q2 GDP, 8.75% unemployment at end of 2012

    07/16/2011 7:10:16 AM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 07/16/2011 | Ed Morrisey
    Yes, that Goldman Sachs, the investment firm with lots of political ties, but generally more friendly to Democrats than Republicans. In 2008, the firm bet heavily on Barack Obama, with almost a million dollars in contributions from its PAC — the second-highest contributing organization, only trailing the University of California’s PAC. One of its former employees, Rahm Emanuel, ran the West Wing for Obama until leaving for the Chicago mayoral race late last year.Suddenly, however, Goldman Sachs has become disenchanted with Obamanomics. In a message sent out last night, the firm downgraded its economic forecasts across the board and warned...
  • Bam recruits Corzine to woo back Wall $t. (will "fat cats" cough up money hairballs again?)

    07/05/2011 12:53:52 PM PDT · by dead · 18 replies
    NY Post ^ | July 5, 2011 | JOSH MARGOLIN
    President Obama is desperately putting his Wall Street stock in an unlikely old buddy. The beleaguered president has recruited former Goldman Sachs head honcho Jon Corzine to shore up re-election funds from the banking industry, which is furious over Obama's financial regulations. Corzine, the former governor of New Jersey who was blasted out of office by Republican Chris Christie in 2009, has attended secret meetings with the president and has been working on Obama's 2012 campaign for months, The Post has learned. The Democrat, who now leads Manhattan-based brokerage MF Global, has been tasked with scraping up the very little...
  • Goldman Cuts GDP View to 2% as Economy Weakens (less than 2% is the new surprise)

    06/19/2011 4:18:24 AM PDT · by MontaniSemperLiberi · 24 replies via RCP ^ | Friday, 17 Jun 2011 | Jeff Cox
    Faced with the bruising headwinds of high unemployment, weak manufacturing and an otherwise listless economy, Goldman Sachs has slashed its forecast for gross domestic product. The firm cut its second-quarter GDP outlook to 2 percent from 3 percent, a stunning blow for an economy expected to be well on the path to recovery following the financial crisis of 2008 and 2009. From a policy standpoint, Goldman said it does not expect the subpar growth to change the Federal Reserve's plans to end quantitative easing later this month. However, Goldman economist Sven Jari Stehn acknowledged that "the deterioration in economic activity,...
  • Eight ways to transfer illegal assets overseas

    06/18/2011 11:45:24 AM PDT · by Fred · 8 replies · 1+ views
    China Daily ^ | 061611 | Yan Jie
    BEIJING - Corrupt officials and company executives in China transfer their assets overseas through at least eight channels, according to a report released on Monday by the Anti-Money Laundering Monitoring and Analysis Center set up by the People's Bank of China. Often a combination of legal and illegal channels is used to make cross-border transfers of ill-gotten gains, the report said. The eight main channels are smuggling cash, underground banking services, trade under current accounts, overseas investment, credit cards, offshore financial centers, direct overseas payments and payments to family members or lovers living overseas. However, the exact amount of assets...
  • Goldman Sachs subpoenaed for financial crisis role

    06/02/2011 2:47:39 PM PDT · by decimon · 3 replies · 1+ views
    Reuters ^ | June 2, 2011 | Lauren Tara LaCapra
    NEW YORK (Reuters) – New York prosecutors have asked Goldman Sachs to explain its behavior in the run-up to the financial crisis, the latest investigation that has cast a pall over the reputation of the largest U.S. investment bank. Goldman Sachs Group Inc now faces probes by several government authorities into derivatives trades it executed in late 2006 and 2007. On Thursday, sources close to the matter said Goldman received a subpoena from the Manhattan district attorney, who joins the Justice Department and the Securities and Exchange Commission in examining Goldman's actions. The probes follow a scathing report by U.S....
  • Goldman traded $1.3 billion in Libyan funds: report

    05/31/2011 6:00:47 AM PDT · by Perdogg · 6 replies
    CNBC ^ | 05.31.11
    Goldman Sachs invested more than $1.3 billion from Libya's sovereign-wealth fund in currency bets and other trades in 2008 and the investment lost more than 98 percent of its value, the Wall Street Journal reported, citing internal Goldman documents. When the fund, controlled by Col. Muammar Gaddafi, made huge losses Goldman offered Libya the chance to become one of its biggest shareholders, the Journal said, citing people familiar with the matter.
  • Goldman Sachs names ex-Sen Gregg to advisory post

    05/28/2011 5:19:35 PM PDT · by STARWISE · 10 replies
    <p>Goldman Sachs Group Inc. said Friday that it has hired former U.S. Senator Judd Gregg as an international adviser.</p> <p>Gregg, a former Republican senator from New Hampshire, joins a group of 17 international advisers to the New York-based investment bank and its clients, and will assist in business development initiatives.</p>
  • Facebook upgrade spurs fears of political bias

    05/24/2011 8:50:51 AM PDT · by opentalk · 56 replies
    The Daily Caller ^ | May 24, 2011 | Neil Munro
    Facebook’s managers are deploying a new software upgrade that will dismantle myriad groups of like-minded political activists unless they get a special software-key from the company. But Facebook manager are providing very limited information about which groups are being favored with the new key, prompting some activists to complain about possible political favoritism among Facebook managers, and many other activists to experiment with techniques and tricks to get the needed upgrade-key. “Who is being given the upgrade?” asked Pamela Geller, the New York organizer of a 15,000-member group opposed to Islamist political groups. Without the special key, groups lose access...
  • Goldman Plunges, As Market Cap Shrinks By $8.3 Billion Just Since The Matt Taibbi Takedown

    05/21/2011 6:32:04 PM PDT · by SeekAndFind · 22 replies
    Business Insider ^ | 05/21/2011 | Joe Weisenthal
    If you haven't been paying attention, Goldman Sachs shares have been in freefall. They lost over 3% Friday amid a slew of headlines about imminent subpoenas related to Blankfein, the firm's activities during the crisis, and just generally for being the much-reviled Goldman Sachs. The stock has lost over 10% in just the last week since Matt Taibbi wrote his latest takedown, costing the firm over $8 billion in market cap. From its 52-week high made earlier this year, the stock is off 24%. At $134, it's only barely above its $129 book value, meaning that either A) people don't...
  • Too Big to Fail Surprises

    05/19/2011 3:26:02 PM PDT · by MrTim29 · 3 replies
    A Hollywood Republican ^ | 05/19/11 | Tim Ross
    I’ve written several articles skewering HBO for producing political projects destined to air immediately prior to the 2012 election, where the vast majority of the cast and crew are passionate Barack Obama supporters, and where the content is aimed at the Democrat’s two favorite Republican villains… Sarah Palin and Dick Cheney. So, when I sat down to watch HBO’s Too Big to Fail, I prepared myself for the worst. What I didn’t expect was the big surprise awaiting me. Too Big to Fail, which premieres on HBO on May 23, 2011, features a star studded cast recounting the events that...
  • Goldman's Greek Swaps Masked Debt

    05/13/2011 3:27:52 PM PDT · by DeaconBenjamin · 1 replies
    The ^ | 05/13/11 - 03:09 PM EDT | by Christopher Westfall
    NEW YORK (TheStreet) -- A deal between Goldman Sachs (GS) and Greece was created to mask the "real" level of the country's debt and regulators would not have allowed it if they had prior knowledge of the agreement, according to a report issued Thursday by Eurostat, the European Commission's statistics arm. The report says that the Greek government and Goldman inked 13 separate "off-market cross-currency swaps" in 2001 that essentially lowered the Hellenic nation's sovereign debt by EU 2.3 billion ($3.5 billion). But by using non "spot" market rates, along with a Goldman Sachs' numerous "revisions" to the repayment schedule,...
  • The People vs. Goldman Sachs... the Justice Department should bring criminal charges

    05/12/2011 2:08:24 PM PDT · by dead · 21 replies
    Rolling Stone ^ | 5/11/11 | Matt Taibbi
    They weren't murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it. Thanks to an extraordinary investigative effort by a Senate subcommittee that unilaterally decided to take up the burden the criminal justice system has repeatedly refused to shoulder, we now know exactly what Goldman Sachs executives like Lloyd Blankfein and Daniel Sparks lied about. We know exactly how they and other top...
  • Goldman Goes Long US Government Debt (Even as PIMCO Raises bet against US Government Debt)

    05/10/2011 1:17:09 PM PDT · by SeekAndFind · 22 replies
    CNBC ^ | 05/10/2011 | John Carney
    Goldman Sachs dramatically increased its exposure to debt issued by the US government and government-sponsored agencies like Fannie Mae and Freddie Mac in the first quarter of this year, apparently bucking the trend of some of the biggest bond traders to short US Treasuries. At the end of the first quarter of this year, Goldman owned just over $100 billion of US government and federal agency debt, according to it's latest quarterly filing with the Securities and Exchange Commission. That's a $15 billion increase over the fourth quarter of 2010 and a $21 billion increase over its holdings during the...
  • Chelsea Clinton's Husband Launching His Own Hedge Fund With "Two Guys From Goldman

    05/10/2011 9:54:53 AM PDT · by SeekAndFind · 28 replies
    Business Insider ^ | 05/10/2011 | Katya Wachtel
    Chelsea Clinton's hedge funder husband, Marc Mezvinsky, is reportedly close to launching his own firm after he quit 3G Capital last year and shacked up in Jackson Hole, the Daily News reports. Mezvinsky has "decided to spearhead his own private [hedge] fund with two other guys," one of his buddies said. It will apparently launch in the next few months. He'll be setting up shop with "two guys from Goldman Sachs." Mezvinsky worked at the bank for six years before he scored his gig at 3G. As for all those pesky rumors that he was "cracking up" and things with...
  • How Goldman Sachs Created the Food Crisis

    04/29/2011 3:13:29 PM PDT · by george76 · 36 replies
    Don't blame American appetites, rising oil prices, or genetically modified crops for rising food prices. Wall Street's at fault for the spiraling cost of food. Demand and supply certainly matter. But there's another reason why food across the world has become so expensive: Wall Street greed. It took the brilliant minds of Goldman Sachs to realize the simple truth that nothing is more valuable than our daily bread. And where there's value, there's money to be made. In 1991, Goldman bankers, led by their prescient president Gary Cohn, came up with a new kind of investment product, a derivative that...
  • Greed, Lies and MBS: “There’s No Question Goldman Did Exactly What Sen. Levin Said,” Cohan Says

    04/14/2011 8:27:55 PM PDT · by Chunga85 · 38 replies
    The Daily Ticker ^ | 4/14/2011 | Aaron Task | Daily Ticker
    Goldman Sachs has a lot of friends in high places, including many former Goldman execs. But the company has also made a few enemies along the way to becoming arguably the most powerful firm on Wall Street, including the Chairman and Ranking Republican on the Senate Permanent Subcommittee on Investigations. "In my judgment, Goldman clearly misled their clients and they misled the Congress," Sen. Carl Levin (D-MI) said yesterday as he and Sen. Tom Coburn (R-OK.) released a two-year study on the financial crisis and its cause. Generally speaking, Sen. Levin has accused Goldman of selling clients mortgage-backed securities (MBS)...
  • Senate panel slams Goldman in scathing crisis report

    04/13/2011 6:48:28 PM PDT · by NormsRevenge · 42 replies
    Yahoo ^ | 4/13/11 | Kevin Drawbaugh - Reuters
    WASHINGTON (Reuters) – In the most damning official U.S. report yet produced on Wall Street's role in the financial crisis, a Senate panel accused powerhouse Goldman Sachs of misleading clients and manipulating markets, while also condemning greed, weak regulation and conflicts of interest throughout the financial system. Carl Levin, chairman of the Senate Permanent Subcommittee on Investigations, one of Capitol Hill's most feared panels, has a history with Goldman Sachs. He clashed publicly with its Chief Executive Lloyd Blankfein a year ago at a hearing on the crisis. The Democratic lawmaker again tore into Goldman at a press briefing on...
  • Senate report to reveal mortgage crisis details: WSJ

    04/03/2011 12:17:36 PM PDT · by NormsRevenge · 105 replies
    Yahoo ^ | 4/3/11 | AFP
    WASHINGTON (AFP) – The Senate will soon issue findings of a probe of the US mortgage meltdown that fueled the global financial crisis, with Goldman Sachs likely to face fresh embarrassment over its role, the Wall Street Journal reported Sunday. The Senate Permanent Subcommittee on Investigations, whose high-profile inquiry commission subpoenaed Goldman's and other executives last year, is due to release its report on the subprime implosion of 2007 and 2008. The paper, citing people familiar with the matter, said the report was expected to release emails from securities firms that developed or sold subprime mortgages and financial vehicles including...
  • Facebook May Hire Robert Gibbs, Former Obama Aide [Facebook largest IPO in history, Goldman Sachs]

    03/28/2011 7:35:21 AM PDT · by fight_truth_decay · 10 replies
    NYT ^ | March 27, 2011 | ANDREW ROSS SORKIN
    Facebook is in talks to hire Robert Gibbs, President Obama’s former White House press secretary, for a senior role in helping to manage the company’s communications, people briefed on the negotiations said. Facebook is seeking out Mr. Gibbs ahead of an initial public offering planned for early 2012, these people said.
  • Democrat Fundraiser Jeffrey Epsteins Doing Favors for the Powerful

    03/07/2011 6:26:51 PM PST · by STD · 6 replies
    The Telegraph ^ | 3/8/11 | Swinford
    Duchess of York admits Duke arranged for convicted paedophile Jeffrey Epstein to pay off her debts The Duchess of York has admitted that her former husband arranged for a convicted paedophile to pay off her debts.
  • Libya's Bankers Exposed: Goldman, JP Morgan And Citi (Bankster scum)

    03/01/2011 7:56:57 PM PST · by Frantzie · 34 replies
    Zero Hedge ^ | 3-1-2011 | Tyler Durden
    Ten days ago, when we first looked at the Libyan investment authority (its sovereign wealth fund), we asked "Which US Banks Are Managing Billions For The $32 Billion Libyan Sovereign Wealth Fund?" Based on Wikileaks data, it was disclosed that various US banks manage billions for the country which has just seen $30 billion of its assets largely frozen (although this is merely half of its total deposits). Obviously, we had "some" banks in mind, most of the variety whose directors believe they are above the law and can share inside information with criminal intent with utter disdain for the...