Collateralized Debt Obligations

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

Negative Interest Rates Have Come To America

"One of the truly mind-boggling absurdities in modern finance has been the creation of ‘negative interest rates’ around the world... This trend has persisted across Europe, Japan, and many other parts of the world, but not America... until now!"

Nomi Prins On The Goldmanization Of President Trump

In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation's capital has reaped the rewards of government.”  Under Trump, an even smaller group will flourish -- in particular, a cadre of former Goldman Sachs executives. To put the matter bluntly, two of them (along with the Federal Reserve) are likely to control our economy and financial system in the years to come.

Why Oil Prices Might Never Recover

Two years into the global oil-price collapse, it seems unlikely that prices will return to sustained levels above $70 per barrel any time soon or perhaps, ever. That is because the global economy is exhausted. The current oil-price rally is over and prices are heading toward $40 per barrel. Oil has been re-valued to affordable levels based on the real value of money. The market now accepts the erroneous producer claims of profitability below the cost of production and has adjusted expectations accordingly. Be careful of what you ask for.

Trump Picks Former Goldman Partner And Soros Employee As Finance Chairman

In an oddly ironic twist, today Donald Trump announced that he has picked as chairman of his newly launched fundraising operation none other than a former employee of the bank he has repeatedly criticized in the past, and which he used as a foil to criticize Ted Cruz: Goldman Sachs.  In addition to Goldman, Mnuchin also worked for Soros previously. Where it gets even more ironic is that Mnuchin has donated frequently to Democrats, including to Clinton and Barack Obama.