Overnight saw the release of the latest report by Jim O’Neill, the global chief economist for Goldman Sachs, who provides the most convincing argument for the bullish cause, writes Karen Maley of Business Spectator.
Goldman Sachs
Goldman’s glass half empty
Talk of a double-dip in the US economy is no longer confined to the mutterings of super bears in dark alleys, writes Karen Maley of Business Spectator
Forget CEO pay, investment banks laughing all the way to the bank
During the Global Financial Crisis, when Australian companies clamored to raise precious capital to shore-up their balance sheets, investment bankers and their favoured institutional clients made out like bandits.
US reform guarantees nothing
In a sense it’s a measure of America’s misery that in a new era of deflation and tight credit, it celebrates a Bill that curbs the banks.
Media fury as government, erm, does what it demanded
The Australian and the Financial Review demanded that the Government retreat on the RSPT. Now that the Government has done exactly that, they’re giving it a flogging.
$1 billion: it’s Basis Capital versus the vampire squid
What happens when the smartest guys in the room are shown to be the dumbest? They sue.
Goldman’s still got it
Despite the fraud allegations against Goldman Sachs, its big customers aren’t budging. Why the loyalty? Because they don’t blame Goldman Sachs for the GFC, even if everyone else does.
Business As Usual: Austerity the new cool in UK … and in Italy, too … Brazil waxes lyrical about big oil find …
It’s hair shirts all around in London … Italy cuts public sector hiring and pay … Changes in the wind for US bank ratings … Car sales figures here are up on last year … Brazil waxes lyrical about another big oil find …
The all-you-can-earn Buffett
Warren Buffet is the best investor in the world, the responsible, folksy old timer outsider from Omaha, different from the slick Wall Street guys. Right? Not quite, says NY Mag.
NYT takes on Goldman Sachs
The New York Times has dealt a “devastating” blow to Goldman Sachs, with an extensive front-page report into the company’s conflicted business position and dodgy deals. The article is now the talk of the business world.
Goldman’s secret army
Goldman Sachs may be publicly cheering for tighter financial regulations, but behind the scenes, it has spent $6 million in the last year alone, running an army of DC lobbyists, employing the services of 14 separate lobbying firms.
US banks: perfect or mutants?
US banks — Goldman Sachs, JP Morgan, etc — have recorded perfect trading quarters and massive profits as of late. But rather than be grateful for post-GFC recovery, there’s an awful sense of foreboding.
Digging through the “Dead Presidents” corpses
An investigation is being launched into whether Morgan Stanley deliberately designed and then bet against mortgage deals, nicknamed the “Dead Presidents” deals. Did Morgan Stanley pull a Goldman Sachs?
Are the Big Banks cheating?
Goldman Sachs, Citigroup, JP Morgan, and Bank of America have all scored “perfect quarters” — making money on all 61 trading days this year. Are they really that good — or is the system rigged?
Business As Usual: Job ads pointing downwards … US banks continue to die … Germans to put up 8.1b euros for Greece …
Attention moves to Chona tomorrow, another four US banks bite the dust but its good news for jobs in US and investors giving Europe a miss. Plus, all the best business briefs of the day.
Business As Usual: The UK — oh to be in the black, rather than deep shit … but a bright spot in Nez Zealand …
The UK: oh to be in the black, rather than in deep shit … Good news on the jobs front in New Zealand … Where are the new jobs in the US … Expect mea culpas aplenty at tonight’s Goldman Sachs AGM …
Fabulous Fab: the most popular man on Wall St
Goldman’s Fabrice Tourre may be public enemy number one with the American public over his role in the company’s mortgage trading scandal, but on Wall St, he commands a dedicated cult following. Just what makes him so fab?
Business As Usual: Housing on the up … Reserve Banks nostalgia, back to 07 … retail slump spreading …
The RBA sees cash flooding through the economy over the next year … Retail sales have had the brakes applied … Goldman Sachs lawsuits … Lottery tickets and cars are big hits in China …
Business As Usual: Questions on Greece … BP oil disaster … China puts brakes on property
BP slow out of the blocks over oil spill … China still tightening the screws on property lending … What happens here if the China economy stumbles? … Mining: it’s all about geography and availability, not taking the profits.
Goldman Sachs ’shitty’ deal link to failed Aussie hedge fund
Australia’s biggest GFC casualty has emerged as a central investor in the now infamous Timberwolf CDO that was sold by Goldman Sachs and later died a nasty death, taking the hedge fund with it.
The day the squid was grilled
CEO Lloyd Blankfein took the stand at the SEC hearing against Goldman Sachs, seemingly surprised at the criticism levelled against him. Goldman Sachs’ reputation is looking as dodgy as its deals.
Video of the Day: Goldman’s shitty deal
Watch US Senator Carl Levin grill Daniel Sparks, the former head of mortgages at Goldman Sachs, over an internal Goldman email where employees discuss the “shitty deal” they just made.
Goldman Sachs: “the kind of theater that makes you want to run to the restroom to vomit”
Barbara Kiviat reviews a scene from the “nauseating” theatre that is the Goldman Sachs hearing: the disgraced executives Still. Don’t. Get. It.
Follow the Goldman Sachs hearing live
The Washington Post is liveblogging the Goldman Sachs Senate hearing, featuring the Fabulous Fabrice Tourre, Loyd “The Squid” Blankfein, and the relentless Senator Carl “shitty” Levin.
Historically Hung Over: The Crikey Guide To The 2010 Federal Election
