Tag Archives: Goldman Sachs

Goldman Squeaks

20 Friday Mar 2020

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Slight revision: five percent decline to 24%.

Goldman Sachs economists on Friday forecast an unprecedented 24% decline in second quarter gross domestic product, following a 6% decline in the first quarter, based on the economy’s sudden and historic shutdown as the country responds to the coronavirus pandemic [HOAX].

Yes! The same Goldman that sucked up $900 Billion the last time. Soeaking of sucking, way to go Congress-Critters.

Revealed: Four senators dumped millions in stocks while Capitol Hill was being briefed on the coronavirus threat but BEFORE markets started tanking
Richard Burr, head of the Senate Intelligence Committee which was directly briefed on coronavirus, sold up to $1.7m in stock between January and February
Dianne Feinstein, on the same committee, sold up to $6m in stock in same period
Kelly Loeffler, on the Senate Health Committee, sold up to $3.1m in stock starting on the day her committee was briefed by the CDC
James Inhofe sold up to $400k in stocks including real estate all on January 27

And, way to go, voters! Your wise choices have certainly helped things along – all the way to this bright, shining, new dark age.

THIS! is what gets the Goldman???

10 Sunday Nov 2019

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Forget about the Fed front-running, the election rigging, and the literal nation-wrecking. No, the problem with Goldman is their Apple Card Gender Algorithm…

In a series of Twitter posts starting on Thursday, David Heinemeier Hansson railed against the Apple Card for giving him 20 times the credit limit that his wife got, Bloomberg reported on Saturday. (https://bloom.bg/2X4IX2X)

Hansson, who is the creator of web-application framework Ruby on Rails, didn’t disclose any specific income-related information for himself or his wife but said they filed joint tax returns and that his wife had a better credit score, the report said.

New York’s Department of Financial Services confirmed that an investigation was being conducted.

Andrew Williams, a Goldman Sachs spokesman, declined to comment on whether Hansson had contacted Goldman regarding the concerns raised on Twitter because the bank does not discuss matters involving individual customers publicly.

The Apple Card, launched in August, is Goldman’s first credit card. The Wall Street investment bank has been offering more products to consumers, including personal loans and savings accounts through its Marcus online bank.

The Department of Financial Services “will be conducting an investigation to determine whether New York law was violated and ensure all consumers are treated equally regardless of sex,” a department spokeswoman told Reuters in a statement.

Now we need an investigation into that department spokeswoman for (correctly!!!) identifying “sex” as “sex,” rather than “gender.” Then, we’ll need to go after Reuters for assuming her gender with this “spokeswoman” business.

Anyone Really Shocked?

14 Sunday Oct 2018

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Is there another (non-seedy) side to the Goldman?

Fresh dirt has spilled at Goldman Sachs — and this time it has been caught on tape.

David Solomon, who took the helm of the Wall Street giant from Lloyd Blankfein last week, once blew off criticism of Goldman’s double-dealing in a big energy merger as a matter of “perception” — a cheeky dismissal that came despite a class-action lawsuit against the deal that eventually cost Goldman $20 million in fees.

That’s among the cringeworthy quotes that Carmen Segarra claims she secretly recorded behind closed doors for her new book “Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street.” The 340-page exposé expands on her previous claims that Goldman Sachs has long exploited an improperly cozy relationship with Wall Street regulators.

I’m sure “your” humble public servants are already looking into this.

Grin and Bear It: Agreeing with Goldman for Once

10 Monday Sep 2018

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Hey, it’s time. Really, we’re overdue. So says The Goldman Sachs…

A Goldman Sachs Group Inc. indicator designed to provide a “reasonable signal for future bear-market risk” has risen to the highest in almost 50 years. The firm’s Bull/Bear Index, which is based on measures of equity valuation, growth momentum, unemployment, inflation and the yield curve, is now at levels last seen in 1969. While the gauge is at levels that have historically preceded a bear market, Goldman strategists including Peter Oppenheimer wrote in a note last week that a long period of relatively low returns from stocks is a more likely alternative.

Yes, per the graph we are in the longest run in modern history. Also, pay attention to the percentages and when they were the highest.

800x-1

Goldman Say What?

29 Wednesday Nov 2017

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Even The Goldman Sachs sees clouds forming:

A prolonged bull market across stocks, bonds and credit has left a measure of average valuation at the highest since 1900, a condition that at some point is going to translate into pain for investors, according to Goldman Sachs Group Inc.

“It has seldom been the case that equities, bonds and credit have been similarly expensive at the same time, only in the Roaring ’20s and the Golden ’50s,” Goldman Sachs International strategists including Christian Mueller-Glissman wrote in a note this week. “All good things must come to an end” and “there will be a bear market, eventually” they said.

As central banks cut back their quantitative easing, pushing up the premiums investors demand to hold longer-dated bonds, returns are “likely to be lower across assets” over the medium term, the analysts said. A second, less likely, scenario would involve “fast pain.” Stock and bond valuations would both get hit, with the mix depending on whether the trigger involved a negative growth shock, or a growth shock alongside an inflation pick-up.

I suppose fast pain beats slow and tortuous.

In related news, there was a large cigar:

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A VERY large cigar.

IMG_20171126_124415057_HDR - Edited

Yikes!

Uh Oh! The Goldman Sachs is not Happy

31 Tuesday Jan 2017

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Goldman CEO Lloyd Blankfien (or is that Bank Fiend?) takes issue with President Trump’s ban on terrorist invasion.

In a voicemail to employees on Sunday, Blankfein said diversity was a hallmark of Goldman’s success, and if the temporary freeze became permanent, it could create “disruption” for the bank and its staff.

“This is not a policy we support, and I would note that it has already been challenged in federal court, and some of the order has been enjoined at least temporarily,” Blankfein said, according to a transcript seen by Reuters.

In Silicon Valley, the heads of companies such as Apple and Facebook swiftly denounced Trump’s immigration ban. But the rest of corporate America has been more circumspect in speaking out, underscoring the sensitivities around opposing policies that could provoke a backlash from the White House.

Tepid responses from many of Blankfein’s peers made his comments all the more potent, especially because Goldman has gotten attention for the number of its alumni who have joined Trump’s administration.

I still question strongly the need for any Goldman alums in the administration, the fed, or, really, anywhere on Earth. These are among the most evil of the bankster clan. Their ties to Middle East turmoil and terror have been previously noted here and elsewhere.

That they are against this measure, by itself means the President is right.

He might also want to extend the ban to cover Wall Street.

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Beattie / Zero Hedge.

Paul Craig Roberts Explains The Trump Appointment Process

04 Sunday Dec 2016

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Last week I sounded off about Trump’s choices for Treasury and another economic position. I hedged my caution on Trump’s unique relationship with the big banks. I said:

Both Trump and Hillary were and are in DEEP with the banksters. Their relationships are, however, a little different.

… Trump is (or was) a borrower, a customer to the banks. …

Many who analyze these choices seriously may come to those same conclusions. They may say that Hillary, had she been elected, would have worked for her masters, whereas Trump will master them. He may view them as enemies and want them closer than his friends, where he can keep an eye on them. Knowing his unusual associations, this may be true. If so, it could be one of the greatest political power plays in American history. If not, then it could be one of the biggest blunders.

I’m honestly hoping for the former while fearing the latter. …

The esteemed Paul Craig Roberts optimistically echoed the sentiment in a broader article on the overall scheme of the appointments. His is expert commentary about insiders as only a former insider can understand it.

Does Trump’s choice of Steve Mnuchin as Treasury Secretary mean that Goldman Sachs will again be in charge of US economic policy? Possibly, but we do not know. We will have to wait and see. Mnuchin left Goldman Sachs 14 years ago. He has been making movies in Hollywood and started his own investment firm. Many people have worked for Goldman Sachs and the New York Banks who have become devastating critics of the banks. Read Nomi Prins’ books and visit Pam Martens website, Wall Street on Parade (http://wallstreetonparade.com ). My sometimes coauthor Dave Kranzler is a former Wall Streeter.

Commentators are jumping to conclusions based on appointees past associations. Mnuchin was an early Trump supporter and chairman of Trump’s finance campaign. He has Wall Street and investment experience. He should be an easy confirmation. For a president-elect under attack, this is important.

Will Mnuchin support Trump’s goal of bringing middle-class jobs back to America? Is Trump himself sincere? We do not know.

What we do know is that Trump attacked the fake “free trade” agreements that have stripped America of middle-class jobs just as did Pat Buchanan and Ross Perot. We know that the Clintons made their fortune as agents of the One Percent, the only ones who have profited from the offshoring of American jobs. Trump’s fortune is not based on jobs offshoring.

Not every billionaire is an oligarch. Trump’s relation to the financial sector is one as a debtor. No doubt Trump and the banks have had unsatisfactory relationships. And Trump says he is a person who enjoys revenge.

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There is sound reason Roberts is regarded as the best commentator in America. Revenge against the financial sector. Now that would be making America great again.

PS: It has come to my attention that some few (likely very small and timid) folks find me “a little scary”. Me. The man of cigars and Christmas ties. A “little”?? I’ve got to step it up a notch, huh?