Top Goldman officials in London have embarked on a desperate charm offensive following a series of allegations that threaten to do irreparable damage to the reputation of the Wall Street firm.
Good luck with that.
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Greek bond yields rose from 7.8% to 10.38% in one day. There are virtually no sellers for insurance against a default either. This is highly unusual, and most definitely a bad moon rising for Greece. Apparently the vampire squids of Goldman Sachs played a role in tarting up Greece’s books (I knew you’d be [...] Michael Lewis If you happen to be sitting on the Goldman Sachs bond-trading floor life must feel horribly unfair. You did nothing worse than live by the ethical assumptions of your market — any money-making event short of obviously illegal is admirable — and now your own grandfather thinks you’re some kind of monster. [...] Goldman Sachs CEO blubbers about how unfair the lawsuits are No, seriously, he really did just say that. Completely delusional. And cracking under the pressure. Dang. The idea that an SEC enforcement action on a lone transaction is tantamount to a campaign to “kill” the firm is bizarre…It suggests either hypersensitivity to bad press, [...] Neil Barofsky, special inspector general for TARP, says he may collaborate with DoJ “to see if there are cases of fraud and if AIG and as a result, the American taxpayers, were victims of similar types of fraud.” Added bonuses: The Fab One will testify before the Senate on April 27. Sen. Levin: Another ‘big [...] Goldman says Magnetar did just what they did. Magnetar says Goldman did the same thing. Their argument that “everyone else did it too” is the most telling. It’s a needless argument if they didn’t do anything illegal. A hint of what’s coming: AIG might sue Goldman. From Goldman’s statement this morning “The core of the SEC’s case is based on the view that one of our employees misled these two professional investors by failing to disclose the role of another market participant in the transaction.” This directly targets Fabrice Tourre, the wunderkid who at age 28 put together the toxic glop [...] Goldman CEO Lloyd Blankfein sent a voicemail to employees Sunday night exhorting them to stay the course, work hard, and ignore the foolishness and attacks. Among his delusional and inadvertently comical comments: I will repeat what you have heard me say many times in the past: Goldman Sachs has never condoned and would never condone [...] Tony Crnkovich artwork Did a clever SEC bait Goldman Sachs into compounding its legal problems with the “Kiss of Death” message? Sam Antar at White Collar Fraud thinks so. By releasing the news on Friday the SEC may have suckered Goldman into a hasty press release which may now be used against them. He [...] Bond Girl Seriously, why the hell would anyone want to be a client of Goldman Sachs after reading this? Why would you work with a firm that sees your multi-million-dollar business relationship as nothing more than collateral damage in its ultimate pursuit of fees? This is not what investment bankers do. This is [...] |  | ||||
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