Ry Cooder and Goldman Sachs

Today we need a little uplifting singing to start our day, so here is a little song (play it loud and play it often as an anthem for our time) by Ry Cooder:



You can view the video here

As Our Economy Tumbles So Might Goldman Sachs

This is big.

Business Insider just reported that Landsdowne Partners, one of Goldman's top 20 investors has dumped its entire $850 million stake.  Wow, talk about lack of confidence. Of course, as you will see, they are taking some losses also and their investment in GS is not helping them at all. 

BI goes on to explain,

The Telegraph cites four reasons why the $10 billion long/short equity hedge fund run by Stuart Roden and Peter Davies sold the huge stake:

• Dodd Frank legislation that caused Goldman to get rid of its proprietary trading business
• Capital requirements 
• "The bank saw its shares hit a two-year low of $125.50, having fallen 19.2% this year"
• "Profits in the second quarter of the year fell to $1.09 billion, from $2.7 billion in the first three months of the year, as its behemoth Fixed Income, Currency and Commodity division saw revenues tumble by 64pc from the first quarter"

Read more:...click here

Also in Business Insider Clusterstock:

THE REVOLVING DOOR: 29 People Who Went From Wall Street To Washington To Wall Street

Interesting to see all the Goldman crowd in there as well as some other very interesting characters who have influenced our government and our economy.

Read more...click here

Even More from Business Insider Clusterstock.

Goldman Sachs Traders Quitting The Bank In Droves
"More than a dozen traders have quit Goldman Sachs... North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up," Lauren Tara LaCapra reports at Reuters.

Finally have a few laughs compliments of...you guessed it - Business Insider Clusterstock

15 Reasons You Don't Want To Work At Goldman Sachs

Read more...click here

Related articles

• Lansdowne Partners sells entire $850m stake in Goldman Sachs (telegraph.co.uk)
• Is The Era Of Goldman Sachs Over? (GS, MS) (businessinsider.com)
• Meet Wall Street's Biggest Party Animals (businessinsider.com)
• Wall Street Kills the US Consumer and Expects Him to Spend! (businessinsider.com)
• This Beautiful Former Goldman Sachs Analyst Is About To Be One Of Hollywood's Biggest Stars (GS) (thenewspundit.com)...GS666 Editor's note:  Just an interesting story with a couple of interesting comments about where she worked. Take a quick look.
• Goldman Sachs Traders Quitting The Bank In Droves (GS) (businessinsider.com)