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Two New Governmental Investigations Into Goldman Compensation And Credit Derivative Practices Disclosed
Can Goldman please clarify these new disclosures, taken from its 10-Q, indicating two new governmental inquiries, one focusing on compensation practices and the other on credit derivative instruments (Zero Hedge would venture to guess the latter has to do with a recent DoJ investigation into MarkIt and its JV partner, DTCC). Also, it seems shareholders are getting fiesty.
Group Inc. and certain of its affiliates have received inquiries from various governmental agencies and self-regulatory organizations regarding the firm’s compensation processes. The firm is cooperating with the requests.
Group Inc. and certain of its affiliates have received inquiries from various governmental agencies and self-regulatory organizations regarding credit derivative instruments. The firm is cooperating with the requests.
The Board has received several demand letters from shareholders
relating to compensation matters, including demands that the Board
investigate compensation awards over recent years, take steps to recoup
alleged excessive compensation, and adopt certain reforms. The Board is
considering the demand letters.
The spotlight is now fully on 85 Broad.
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I wonder if this is pre or post Cuomo's report on compensation.
I don't understand why GS says that HFT is a small part of their revenue? 46 * $100 million = $4.6 billion ??
They tried to refer to the rebates of $0.000015 per transaction as proof that it wasn't a significant contributor to bottom line?
Because $4.6 billion rounds to zero. Duh.
hahahahahaha
no, it rounds to whatever you wish it to round ( i hope that came out correctly )
That was a reference to a recent Michael Lewis piece on GS in Bloomberg.
Pfft, That is NO way HFT. C'mon it only averages out to $250k/min or $4,273 a second. I would expect much higher revenue, considering they are trading in milliseconds which I wont even bother to compute.
thats not a serious question right
Because they got that book Ternd Trading To Win... chaching
What about GS using December as an orphan month? This needs to be thrown back into the mix.
It became a bank.
Its funny now ZeroEdge fans continue to be obsessed with GS and manipulation conspiracy theories ... meanwhile the rally bids them goodbye
So, what are you buying?
i was waiting for chuck gasbags response, thanks for comin in chuck
first of all this is not a trading site ( please read the disclosure and the Manifesto) and second of all it does not serves ones needs to have a financial babysitter. This is a financial site which provides insight into all the schemes perpetrated on WS and this site is here to bring economical, financial AND trading INFORMATION ( not advice ) which MSM has either no balls, or no brains to find or broadcast/publish. So take your childish and oversimplified view on the matters discussed here to the place you see fit for you under-averaged intelligence and cognitive capabilities ... we are not here to make money, we are here to promote the truth ..
eh? Anyone smart enough to realize the market is manipulated is smart enough to hedge themselves now.
YES. Thank you. Despite the name of the site, anyone with half a brain here is hedged.
Hope you can get a seat on the last bus leaving the station
@25819
I agree with you and just reported this site to flag@whitehouse.gov. I suspect they be getting a visit soon from some Federal officials. I urge everyone to report any websites that deny the green shoots.
Watch. Listen. Report Dissent to flag@whitehouse.gov
The market rally is the real conspiracy - an conspiracy that is being executed, not just a "theory".
"meanwhile the rally bids them goodbye"
Not sure what gives you the idea that ZH is a service for providing trading tips. In fact one would have to be a very poor trader (and I'm sure you are one) to use ZH's reality based reporting to trade markets, at least in the short term.
COMPLETELY off topic - but I remembered this clip today. Absolutely hilarious in our contexts...
http://www.hulu.com/watch/2340/saturday-night-live-old-glory
Apologies if this has been posted and I missed it.
And we said the mainstream isn't worried about the big picture...
http://www.nbc.com/Saturday_Night_Live/video/clips/old-glory-insurance/2...
Another link of same, if you can't get to Hulu
maybe they can investigate why that piece 'o shit AIG just went parabolic.
seriously WTF?
up almost %40?
The AIG move today is alone, enough evidence, to arrest GS and HFT cabal and lock them up.
wheeeeeeeeeeeeeee i'm on AIG
http://www.youtube.com/watch?v=HN8nv4tVFuA
CIT as well. Looking forward to RobotTrader's charts of the new set of garbage stocks being ramped.
Google Finance has their EPS at -720.00, and that makes them look irresistible.
Seriously, 2nd Quarter earnings are supposed to be out tonight, so insiders must know something, or they are today's ramp job
This is the blog that said finnies were dead 200% ago.
And you bend over and say more,
This guy TD and his pals are clowns.
Why do you think they aren't working?
Losers.
AGAIN retard ... THIS IS NOT A TRADING SITE YOU DUMB FUCK
CB, Just junk it.
You're right asswipe, its a meeting place for the hate America crowd and those that think they are smarter than everyone else.
It's also a place where no one makes a dime, and many lose good money.
Post your p&l jagoff
Did you ever stop for just a millisecond to consider the possibility, however ridiculous it may sound, I admit, that some things are more important than your P&L or the size of your portfolio? Your attitude sums up quite nicely the current state of our country, the mindset of our leaders, and why we are headed where we are headed. Truth, justice, honesty, transparency, the well-being of our children and our children's children, fuck it all man, who fucking gives a shit, I'm making money baby, go, baby, go!!!
And what exactly would you have pray tell? What form might a website more worthy of your esteemed visitation take? One where members go around and make intelligent recommendations to each other on whatever it is they think will rise the most that day or the next? We should just all go around recommending AIG, CIT, VNO, SPG, COF and other such noble and worthy institutions to each other, right, because hey it went up 60,000 percent today and I made a fucking fortune, and so can you if you just follow my lead, and let's all get rich together! Hurray! Who gives a shit about such insignificant concepts as truth and reality when I'm making all this money!
I haven't seen the need previously but I think I will be registering a userID here ASAP just so I can junk your comment(s).
This is not a trading site. Go look elsewhere man and stop posting here.
(#26271 above was meant to be a reply to #25904)
Dude give it up, you sound like a 2 year old.
The fact that he's willing to post his bloomberg screens show he's a professional (I have one and they are not cheap) What are you on SheepleTrade for $5.00 per!? Loser... Fall back into the abyss
AIG +40% today WTF
Short squeeze.
Really, I keep saying that people should just quit shorting. I know the temptation is overwhelming but it's like sleaping with that extremely hot but psychotic ex-girlfriend. Sorely tempting but you know how it'll end...
These stocks will only start to really crash when anyone short is completely flat broke.
BRK is ramping up, too, for those with 100K+
FNM/FRE up 20% in last 45 minutes. Shorts are getting called in, likely rehypothecation
"The spotlight is now fully on 85 Broad."
Yep, and with their 42 $100MM+ trading days and just 2 days of losses (which is pretty much a BLATANT in-your-face admission of theft, robbery and criminal activity, kinda like saying "We have openly looted and pillaged you and will continue to do so. What are you going to do about it?") they have pretty much painted a huge target on their heads.
Don't forget about 200 West
For those not tuned into Bloomberg TV - you have just missed a riveting dialogue with Carol (Good AfternooooooOOOooon Masser) discussing Paula Abdul and American Idol. I think I'm going to go back to CNBC (cancel that idea) I think I'll maybe try FOXbusiness.
ramp in the banks, aig, fnm, fre etc are due to comments RDN made on conference call this morning.
apparently losses on 09 originations are coming in below expectations.
yes, 2009. not 05-07, where the bulk of principal and poor underwriting may lie. 2009.
if you keep repeating a lie over & over & over again, it will eventually be taken as fact (hence why anyone still listens to Obama)
Banks/Financials TBTF
Manifesto
1) Bleed your citizenry dry (check)
2) When citizenry stop playing, con Fed into borrowing trillions (check)
3) Siphon off trillions from Fed and watch equities go ever higher (check)
4) Once Fed is bled dry, move deposits into Cayman or Swiss Bank
5) Get the hell out of Dodge
With the bad publicity they have to 'investigate'. They may even find some 'errors' that weren't quite legal. They maybe even fine GS a few million bucks. It'll give them all something to laugh about when they hit that little pub in the Hamptons they swap 'stories' in. No police, no arrests, no trials, and most importantly, no punishment.
DOW JONES NEWSWIRES 1:14 P.M. ET Goldman Receives Inquiries On Pay, Derivatives
http://online.wsj.com/article/BT-CO-20090805-713968.html
Does not sound promising but such broad coverage alone must be giving GS PR folks a conniption, at least we can enjoy that.
http://www.youtube.com/watch?v=r5DIrRrOjVY
Inside Look - Behind the Mystique at Goldman - Bloomberg
Is it me, or have there been a larger number of "U guyz are losing $$$, u dumasses uhhurrrrr..." posts lately?
In addtion to a "flag as junk" I'd like a "flag as pump".
Then we can keep stats, check to see if it's a good contrary indicator!
ACORN members need something to do when they aren't rigging the Census or voting A+ across the board at: http://reportcard.cnn.com?
Now is the time for all good men to come to the aid of the party.
I am calling for a boycott of GS and the rest of the big banks. Hit them in the only spot they can feel - their wallets.
Turn your backs and watch them slip into the ocean where they belong, with the other vampire squids.
To do business with them is un-American.
They only lost money on 2 trading days out of 63. Da pump 'n dump boyz from Jersey must be so jealous.
GS is part of it. They made Obama possible.
Now they're being investigated?
Night of the long knives redux?
Making a profit is no longer American.
Hey, I'm no friend of GS and hate their practices but the increasing witch hunt starting with Rolling Stones article and now this is a bit surprising.