Government Sachs

Goldman Defends 'Government Sachs'

"...The charge is that Goldman Sachs is able to extract certain advantages that others cannot... In fact, the opposite is true. Those in government bend over backward to avoid any perception of favoritism."

Wall Street Shocked As Feds Bring Criminal Case Against Goldman Banker Over Fed Leaks

Perhaps it was the public shaming of Iceland's diametrically opposite approach to 'dealing' with its bankers, or perhaps Janet Yellen needs a distraction from her own 'Fed Leak' problems, or finally perhaps Carmen Segarra's 2013 whistleblowing over the cozy relationship between Goldman and The New York Fed was just too conspicuous to brush under the carpet. Despite Bill Dudley's insistence that The New York Fed is not a subsidiary of Goldman, The NY Times reports, federal prosecutors are preparing to announce a criminal case this week against a former Goldman banker suspected of taking confidential documents from a source inside the government.

Chris Pavese's picture

Government Sachs

We can’t help but share the “shocking” news we came across in the Sunday Times that former US Treasury Secretary (and former Goldman Sachs CEO) Hank Paulson does not believe that banning proprietary trading at large banks (i.e. Goldman Sachs) insured by tax payer dollars is a good idea. Since most of those in Washington with the power to formulate financial reform have spent most of their careers on Wall Street, and maintain close ties with their former pals, this “shocking” news should not come as a surprise. But it still makes us sick to our stomach.

Goldman Sachs' Latest Puff Piece On GDP Growth Contradicts The View Of... Goldman Sachs?

Goldman's latest bull market propaganda makes CNBC looks like champions, and provides data that contradicts that presented by none other than Goldman Sachs itself: GDP growth for 2010 is somehow going to be both 4.4% and 2.1%, claims Goldman. And idiots keep on buying stocks based on Goldman's "hedged" recommendations.

Update: it appears Mr. O'Neill is in fact referencing world GDP, whereby the divergence in GDPs of course makes sense. Nonetheless, we would still like a swig of his Kool Aid, and we still would expect him to present a counterpoint to the numerous bearish points highlighted by Mr. Hatzius previously. We believe it is only fair if one is presenting top picks in an overly optimistic environment, while Goldman's head economist has recently been refuting just these ebullient observations.

Bad News For Goldman: Senator Sanders Proposes Legislation Naming TBTF Firms, Demands They Be Broken Up Within A Year

Following up on the Kanjorski news earlier, it is now Senator Bernie Sanders who is set to anger PETA with his desire to disembowel pristine examples of cephalopodean vampyrrhic perfection. The Senator has revealed legislation which requires the AIG-bailout mastermind Tim Geithner to name banks "whose collapse may shake the economy" and break up these firms in a year. Look for some serious flight or flight sympathetic/parasympathetic ganglia to be going like gangbusters in the dorsal column of various bloodsucking marine creatures. After all who'd a thunk that the willing victims of daily monetary rape would have the guts to stand up for themselves (and if things are accelerating now, wait until Main Street learns that the average Goldman employee is getting paid about $750,000 for 2009).

inoculatedinvestor's picture

The following post is a revision of an article I wrote for my blog. The topic is the similarities between the leap of faith that investors took when they gave their money to Bernie Madoff and the leap of faith required of those who currently own and buy shares of Goldman Sachs. Upon some reflection, there are a number of interesting parallels. The data does not include the most recent earnings report, but given another incredible performance this quarter I thought the commentary was still very relevant.

Frontrunning: October 5

  • Eric Dinallo joins the fight: Split the financial supermarkets to make them safe (FT, h/t Miles)
  • Report on bailouts says treasury misled public (NYT) and continues doing so every single day
  • Lying treasury to announce BlackRock, Wellington and AllianceBernstein have raised $1.9 billion for PPIP (Bloomberg)
  • Larry Summers and the White House economic team (New Yorker)
  • Government Sachs lets one well run dry (Reuters)
  • CIT's Peek about to join Lewis on the unemployment line (Bloomberg)

Goldman Sachs: "Engineering Every Major Market Manipulation Since The Great Depression"

With a subtitle like "From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again" run, don't walk, to your nearest kiosk and buy Matt Taibbi's latest piece in Rolling Stone magazine. One of the best comprehensive profiles of Government Sachs done to date. Speaking of GS, they sure must be busy today, now that Bernanke is about to be impeached and take the fall for all their machinations.

Goldman Says To Expect Another $200 Billion In Equity Issuance

For all who are curious as to the mystery behind the SPOOs buying force, I refer you to a research report published by none other than Government Sachs, titled: "Equity issuance: $100 billion YTD; we expect another $200 billion." Of course, ramping up futures does miracles for overpriced stock follow-ons (especially with GS as lead udnerwriter). In other words, the 35% rise in S&P from the 666 bottom will likely see another 70% or so ramp up as all the equity is cleared under the guidance of the Goebbels Kommendant brigade.