goldman sachs

neverdespairgirl

Blimey. that's a fair few quid at stake.

Generali

neverdespairgirl wrote: »

Blimey. that's a fair few quid at stake.

Well they are only co-leads (the others are Credit Suisse and someone else, Merrills perhaps???) and they will syndicate out a chunk of the sales too but this could take a chunk out of next quarter's profits.

Prop trading (trading for your own account) is meant to be becoming illegal for banks too. The investment banks are fighting that one tooth and claw though and to be fair, it would be hard to stop it as there are at least 10 ways I can think of off the top my my head to disguise it as something else.

StevieJ

It seems to me that Bendix is number 1 fanboi of The Banksters, any criticism or debate and he is right there with positive spin, wonder why that is? Gen on the other hand tends to pop up and give us some facts, taaa Gen you are mine of information.

Greenthumb

Goldman Sachs are the scum of the earth. They like the rest of their big banking buddies will see their greedy war loving ways bought into check sooner than they think. People are starting to see the big picture at last.

Wookster

Greenthumb wrote: »

Goldman Sachs are the scum of the earth. They like the rest of their big banking buddies will see their greedy war loving ways bought into check sooner than they think. People are starting to see the big picture at last.

With you on that. Why anyone would deal with them is a mystery.

grizzly1911

Generali wrote: »

The investment banks are fighting that one tooth and claw though and to be fair, it would be hard to stop it as there are at least 10 ways I can think of off the top my my head to disguise it as something else.

10 OTTOYH thta means there are probably 50... and they lock people up for looting water

Generali

grizzly1911 wrote: »

10 OTTOYH thta means there are probably 50... and they lock people up for looting water

To be fair, looting is illegal whereas prop trading is legal at present and in some cases required by contract or even by law. For example, some shares are legally required to have a market maker, a function that can only be carried out by prop traders of a sort.

michaels

Is it corre3ct that the reason the US govt bailed out AIG was because they were the counterparty to Goldman's market meltdown insurance trades and thus it was actually Goldman's who were being bailed out?

Mr_Mumble

StevieJ wrote: »

It seems to me that Bendix is number 1 fanboi of The Banksters,

I keep hearing about "The Banksters". Are Banksters a new pop group in the hit parade? Presumably, given the hate "The Banksters" have attracted, they've found success via Simon Cowell's music hall talent show contests?

sabretoothtigger

Banksters is a phrase used by keiser report on Russiatoday, Ch85 freeview. Almost comedy often but unfortunately alot of the facts they report are true and very negative.

I wish we had something like the Jon Stewart show, I dont think I can get that one

In the September 2004 issue of The Ecologist magazine, Keiser correctly predicted the 2008 collapse of Fannie Mae and Freddie Mac when he wrote, "My guess is that the two stocks that look the likeliest to implode at the hands of derivative-wielding Wall Street financial types (and other fundamentalists) preying on a US economy made weak by cheap money are Fannie Mae and Freddie Mac."[23]
In 2006 he correctly predicted that sub-prime mortgage-backed securities would be the cause of recession by 2008.[18][dead link][citation needed]
In 2007 he correctly predicted the break-down of Iceland's economy in 2008.[24]
In October 2011, during the Keiser Report, Keiser re-stated his previous prediction that Germany would return to the Deutsche Mark. In episode 192 (E192), he stated that he assisted in substantiating that prediction for posting on this page.

GS are just ordinary people making mistakes like everyone, they arent unique imo. Their performance can be related to our own Barclays/Lehmans or RBS even

I think their main fault is over reliance on government dealing and bonds that have risen in price for three decades.
What will they do when that story ends and their Tier 1 capital, the gilts start to melt in value

the reason the US govt bailed out AIG

AIG was a counterparty and insurer all over the world. If was just about GS they would be gone.
From what I can remember GS suffered no massive losses. Partly because of AIG and insurance on bad debt but also just because they were not in as deep and had other alternative arrangements as well

The biggest mistakes they take is investing when they should stick to dealing only

More then just one bank is in on things - http://newyorkfed.org/markets/pridealers_current.html


Groupon got a takeover bid at one point. I'd value them at that and maybe less now
6bn apparently

These higher values usually revolve around the potential expansion of the company in every country of the world for little cost (as internet is possibly low cost vs a normal shop, etc)

$393million loss in a quarter

Not a big deal except they apparently dont do losses so I wonder about the struggle not to show up a loss this time and what says for the future. Four quarters of losses would be a real negative