tag:blogger.com,1999:blog-5724181159639068489.post4350220116306655525..comments2023-11-05T05:09:14.089-05:00Comments on Goldman Sachs: Information, Comments, Opinions and Facts: The Future for Goldman Sachs: Revenue Down, Losses UpRobertMhttp://www.blogger.com/profile/03960912417983904202noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5724181159639068489.post-29959117498855872762010-10-27T11:18:53.164-04:002010-10-27T11:18:53.164-04:00Michael Lewis Exposes Goldman's Prop Trading I...Michael Lewis Exposes Goldman's Prop Trading In Flow Clothing<br /><br />We have long noted that Goldman's feigned change of heart to eliminate its prop desk is nothing but a sham, as the very same traders will continue pursuing principal strategies but merely be given the additional layer of protection that they are "client facing" i.e., make fake flow markets. Today, Michael Lewis confirms this speculation, and identifies precisely how not only Goldman, but all banks are abusing Frank Dodd using legalistic loopholes that do nothing at all to change the actual role of the principal trader, whose existence has always been predicated upon accumulating positions primarily in OTC products (nobody makes money trading stocks any more) and selling when the firm so desires. <br /><br />http://tinyurl.com/24h9eupAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-13889507503775651142010-10-27T08:17:57.092-04:002010-10-27T08:17:57.092-04:00Reminds me of the star –chamber courts that the fo...Reminds me of the star –chamber courts that the founding fathers abhorred. While Goldman may be considered to be too big to fail it is still not above the law even though it has been earning billions of dollars using the proprietary data of its clients to bet against them (as was disclosed in recent testimony before Congress and in a lawsuit filed against it by the SEC).<br /><br /><br />http://tinyurl.com/28g7bbeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-17266004783253192012010-10-27T08:01:37.533-04:002010-10-27T08:01:37.533-04:00Lets play connect the dots....
U.S. Seeks to Shi...Lets play connect the dots....<br /><br /><br />U.S. Seeks to Shield Goldman Secrets .<br /><br /><br />Goldman Sachs Group Inc. has always closely guarded the secrets of its lucrative high-speed trading system. Now the securities firm is getting a help from an unusual source: federal prosecutors.<br /><br />Federal prosecutors in Manhattan this week asked a federal district judge to seal the courtroom at the forthcoming trial of a former Goldman computer programmer accused of stealing the firm's computer code. The trial is set to start to late November.<br /><br />http://tinyurl.com/25b8f3pAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-70823247595109092082010-10-26T14:37:14.543-04:002010-10-26T14:37:14.543-04:00does Goldman have an office in France?
Thank God ...does Goldman have an office in France?<br /><br />Thank God for France<br /><br /> Thank God for France. While American liberals tremble at the idea of sending an angry email to congress for fear that their name will appear on the State Department's list of terrorists, French workers are on the front lines choking on tear gas and fending off billyclubs in hand-to-hand combat with Sarkozy's Gendarmerie. That's because the French haven't forgotten their class roots. When the government gets too big for its britches, people pour out onto to the streets and Paris becomes a warzone replete with overturned Mercedes Benzs, smashed storefront windows, and stacks of smoldering tires issuing pillars of black smoke. This is what democracy looks like when it hasn't been emasculated by decades of propaganda and consumerism. Here's a blurp from the trenches:<br /><br /><br /><br /><br /> There's no question that Washington elites have joined with Wall Street to offload the massive debts from the financial meltdown onto workers and retirees. Nor is their any doubt that they will invoke (what Slavoj Zizek calls) a "permanent state of economic emergency" to justify their actions. That will allow them to move ahead with so-called "austerity measures" that are designed to impoverish workers and strip popular government programs of their funding. The trend towards "belt-tightening" merely masks the ongoing class war which is aimed at restoring a feudal system of royalty and serfs.<br /><br /><br />http://tinyurl.com/25syzpmAnonymousnoreply@blogger.com