Wall Street Folly

New Goldman disclosure warns investors of PR risk; Warren Buffett still Likes Goldman and thinks Lloyd Blankfein is swell; Another Goldman trading record; Some HSBC bankers are bankin

Posted by WSF On March - 2 - 2010
  • Goldman Warns Investors That Bad PR Could Hutt Business
  • Warren Buffett ‘feels good’ about Goldman Sachs
  • Goldman exceeds trading record
  • HSBC pays top bankers more than £9m each Read the rest of this entry »

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Goldman Sachs, Warren Buffett

“Obama doesn’t begrudge bonuses” to Lloyd and Jamie? Not so fast — he was taken out of context; Jeffrey Immelt has a different recollection of events than Hank Paulson; Milkshake murderess’ conviction overturned

Posted by WSF On February - 11 - 2010
  • Bloomberg Xs & O
  • Immelt Disagrees With Paulson’s Memory of September ’08 Talks
  • Kissel’s Murder Conviction Overturned by Hong Kong High Court Share Business Exchange Read the rest of this entry »

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Barack Obama, Bonuses, Compensation, Goldman Sachs, Henry Paulson, JPM Chase, Jamie Dimon, Lloyd Blankfein, Scandal

It’s all Goldman’s fault: Front page NYT article essentially blames them for AIG mess (as if no firms play hardball in negotiations….); Never say never: Geithner says U.S. will never lose AAA; John Thain is back now heading CIT; Blankfein gets $9M in stock; Toyota recall fears spreading to Lexus; Argentina debt swap?; Hell freezes over at Google with Super Bowl ad; Health summit to be on TV

Posted by WSF On February - 8 - 2010
  • Testy Conflict With Goldman Helped Push A.I.G. to Edge
  • Geithner Says U.S. Will ‘Never’ Lose Aaa Debt Rating
  • Goldman Bows on CEO Pay
  • Merrill’s Ex-Chief Is Back, Atop CIT
  • Obama to hold televised health summit
  • Argentina Will Swap Debt in March, Pagina/12 Says
  • Toyota Prius global recall fears spread to luxury Lexus brand Read the rest of this entry »

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AIG, Autos, Bonuses, Compensation, Goldman Sachs, Lloyd Blankfein, Tim Geithner

Still awaiting Lloyd Blankfein’s number, Jamie Dimon got $10M in shares; You’d think he was running for office or something: Cuomo charges BofA and Lewis even as SEC settles; Fanning populist fires, beseiged Senators propose big Bailout Banks bonus tax; Greek CDS soars; SEC charges, settles with State Street

Posted by WSF On February - 5 - 2010
  • Dimon receives $10m shares
  • Cuomo charges BofA, ex-CEO with fraud; SEC settles
  • Senators Propose 50% Bonus Tax on Banks That Got Bailout Funds
  • Cost of Insuring Greek Debt Soars
  • SEC Charges State Street Over Subprime Mortgage Investments
  • Japan Transport Min: Toyota Mulling Recall Prius Recall
  • Euro-Zone Debt Worries Hit Stocks And Euro Again Read the rest of this entry »

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Bank of America, Banks, Bonuses, Compensation, Goldman Sachs, JPM Chase, Jamie Dimon, Lloyd Blankfein, Politics, Taxes

$100M Bonus for Goldman’s Blankfein? Can $GS really be that tone deaf?; Morgan Stanley gonna hire lots of traders!; This year bankers were pariahs at Davos; Obama unveils new budget with record deficit, his new jobs bill might cost $100B; Citigroup selling Private Equity unit?; Pandit pins faith on growth in Europe; TARP’s Barofsky proes up 41% last Q

Posted by WSF On February - 1 - 2010
  • Goldman Sachs and the $100 million question
  • M Stanley to recruit hundreds of traders
  • Obama 2010 budget projects new record for deficit
  • Obama’s Jobs Bill May Cost $100 Billion, Spokesman Gibbs Says
  • Bankers at Davos Face Global Ire
  • Gorman aims to strike a balance
  • Citigroup Said to Plan Sale of $10 Billion Private-Equity Unit
  • Pandit puts faith in overseas growth strategy
  • TARP’s Barofsky Increased Probes 41 Percent in Fourth Quarter Read the rest of this entry »

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Barack Obama, Bonuses, Citigroup, Compensation, Goldman Sachs, Lloyd Blankfein, Morgan Stanley

Geithner’s NY Fed told AIG to zip its lip on CDS payouts to banks; Possible carried interest tax on hedge funds, private equity firms back in lawmakers’ sights; Now deTARPED Citi faces lawsuits from ex-execs with frozen severance packages; Blankfein, Dimon won’t go to Basel; Kumar going to court today in Galleon insider trading case; Warren Buffett in antitrust hot water?; FDIC looking to tie insurance fees to risk of pay packages; State tax revenues drop to lowest since ‘63; GM CEO is predicting a 2010 profit!

Posted by WSF On January - 7 - 2010
  • Geithner’s New York Fed Told AIG to Limit Swaps Disclosure
  • Congress Has Hedge Funds, Buyout Firms in Tax Sights
  • Citi hit by legal action in bankers’ pay battle
  • Top banks invited to Basel risk talks
  • Kumar set to appear in court in Galleon case
  • Buffett’s Mars bar
  • FDIC Weighs Tying Fees to Banks’ Pay Read the rest of this entry »

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AIG, Citigroup, Compensation, Fees, GM, Goldman Sachs, Hedge funds, Insider Trading, Jamie Dimon, Lawsuit, Lloyd Blankfein

As expected the Senate passes its ill conceived health care bill; Goldman’s Lloyd Blankfein is Financial Times Person of the Year; Dimon, Blankfein and Mack heading to DC in Jaunary for the next round of Congressional inquisitions; Barclays Bob Diamond sells 1.8M shares for £5M; Senate votes to up debt ceiling; Morgan Stanley mints 212 new managing directors; Grassley probing Citi tax breaks; Buffett wants ResCap?; “Squawk Box” broker says U.S. hid evidence; Alexis Glick is leaving FBN

Posted by WSF On December - 24 - 2009
  • Senate Passes Legislation to Overhaul U.S. Health-Care System
  • Master of risk who did God’s work for Goldman Sachs but won it little love
  • Dimon, Blankfein, Mack Among First to Testify at Crisis Panel
  • Senate Votes to Increase U.S. Debt Ceiling by $290 Billion
  • Barclays’ Bob Diamond reveals £5m share disposal
  • Morgan Stanley Appoints 212 New Managing Directors
  • Grassley puts pressure on Treasury in tax dispute
  • Buffett’s back, Billionaire looks to lock up GMAC’s ResCap Read the rest of this entry »

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Barclays, Citigroup, Goldman Sachs, JPM Chase, Jamie Dimon, John Mack, Lloyd Blankfein, Morgan Stanley, Politics, Subprime mortgages

Must read: Goldman Sach’s Lloyd Blankfein: doing ‘God’s work’; More on those big bonuses; Lewis’ recommendations for CEO may not hold much sway; Jamie Dimon’s dad joins him at JP Morgan; Taxpayers may have to eat some of Citi’s losses; NBC closer to sale?

Posted by WSF On November - 9 - 2009

  • I’m doing ‘God’s work’. Meet Mr Goldman Sachs
  • Wall Street Record Bonuses Return as Big 3 May Pay $30 Billion
  • Board May Reject Lewis’s Picks to Succeed Him
  • Dimon dad takes job at JPMorgan
  • Citigroup Asset Guarantees May Cost U.S. Taxpayers, Panel Says
  • U.S., U.K. Split Over Bank-Tax Proposal at G-20
  • JPMorgan to Grow Indian Investment Banking Unit, Morparia Says
  • Comcast, GE Said to Set $30 Billion Valuation for NBC Universal Read the rest of this entry »

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Bank of America, Goldman Sachs, JPM Chase, Jamie Dimon, Lloyd Blankfein

B of A’s general counsel in legal hot water over Merrill deal advice?; Blankfein and Dimon had tête-à-têtes with pay czar Feinberg; Corzine gets the boot as NJ governor; Reid noncommittal on health care bill this year; Frank wants to out firms thought to pose systemic risk; Buffett wants FNM tax credits too; Discover survey suggests lower holiday spending plans

Posted by WSF On November - 4 - 2009

  • BofA’s counsel had no ‘legal’ authority in Merrill deal
  • Blankfein, Dimon Met Feinberg Ahead of Pay Order, Records Show
  • Christie Ousts Corzine in N.J. Governor’s Race
  • Reid Won’t Commit to Passing Health Bill This Year
  • Frank Says Measure Will Require Naming Risky Firms
  • Buffett joins Goldman bid for Fannie Mae tax credits
  • Buffett’s Lower Burlington Breakup Fee Shows Confidence in Deal
  • US sen. asks health insurers about small businesses Read the rest of this entry »

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Compensation, Goldman Sachs, JPM Chase, Jamie Dimon, Lloyd Blankfein, Politics

B of A caves and will fork over attorney privileged Merrill files; JP Morgan UK charm offensive?; Lloyd Blankfein op ed; Meredith Whitney cuts Goldman to ‘neutral’; UBS amnesty deadlines turning lawyers into shrinks?; Lazard succession questions; Gold hits another record high

Posted by WSF On October - 13 - 2009
  • Bank of America Relents, Will Hand Over Merrill Merger Files
  • JPMorgan tries to calm fears over UK
  • Lloyd Blankfein Op Ed: To avoid crises, we need more transparency
  • Goldman Sachs Cut to ‘Neutral’ by Meredith Whitney Read the rest of this entry »

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WSF

Stiglitz: Underlying banking problems remain and now “the problems are worse” than before the crisis; Obama coming to Wall Street; Interview with Goldman’s Lloyd Blankfein; Lehman post mortem one year later; Another suicide?: Accused fraudster Danny Pang is dead, no foul play suspected

Posted by WSF On September - 14 - 2009
  • Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman
  • Obama to Mark Lehman Collapse With Push for New Financial Rules
  • Lessons Learned at Goldman
  • Tales From Lehman’s Crypt
  • From Lehman’s Wreckage, New Lives
  • Where the Players Landed
  • Lehman Had to Die So Global Finance Could Live
  • Indicted Financier Danny Pang Dies; Autopsy Due Today
  • Foul play not suspected in death of financier Danny Pang Read the rest of this entry »

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WSF

B of A ’stands ready to litigate’, SEC defends deal; More on Blankfein’s comments; UBS has to set aside $35M for potential judgement; Ex Morgan Stanley banker gets guilty verdict for insider trading in HK; Gold producer dehedging keeping gold prices high?; States gambling revenues take big hit

Posted by WSF On September - 10 - 2009
  • Bank of America defiant over Merrill Lynch bonuses
  • S.E.C. Defends Deal in Merrill Takeover
  • Goldman’s chief treads a fine line over remuneration
  • In Europe, Goldman’s Blankfein Assails Pay
  • Banks Face Loss of Debt Guarantee
  • Judge Orders UBS to Set Aside $35 Million in Hedge- Fund Case
  • Ex-Morgan Stanley HK banker found guilty of insider trading
  • Gold Producer De-Hedging Helps Explain High Prices, Says GFMS
  • States Face Drop in Gambling Revenues for the First Time Read the rest of this entry »

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WSF

Goldman’s Blankfein on socially useless investment banking, bonuses and regulation; Cuomo may charge B of A unless he gets answers; DUH: U.S. taxpayers may not get much back from bailed out auto companies; NYSE bring in option partners; Hedge funds recovering; A new foreclosure wave?

Posted by WSF On September - 9 - 2009
  • Goldman chief hits at ‘useless’ bankers
  • Goldman’s Blankfein Calls for Pay Rules to Stem Anger, Risk
  • NY’s Cuomo may charge BofA execs over Merrill
  • Cuomo: BofA is ducking questions
  • Bank Firing of Counsel Is Examined
  • Taxpayers will lose on auto bailouts
  • NYSE Will Bring In Options Partners
  • Fairfield Agrees to Settle Madoff-Linked Charges
  • Hedge Funds Performing In 2009 Like It’s 1999
  • Record Drop Hits Borrowing Read the rest of this entry »

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WSF

Busted!: Former Goldman Sachs Global Alpha manager’s wife arrested for DWI

Posted by WSF On August - 13 - 2009

Page Six reveals that now “retired” Goldman Sachs Global Alpha manager Ray Iwanowski’s wife Jane was arrested on July 26 in a DWI incident in East Hampton after driving her BMW into a tree near her home. Read the rest of this entry »

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WSF

Cartoon: Acting flashy at Goldman Sachs ($GS)

Posted by WSF On August - 5 - 2009

More Goldman Sachs love from the print edition of the NY Post (but not the online version, as far as we can see, so we don’t have a link):

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Goldman Sachs, WSF

Toning it down apparently doesn’t begin at home: Goldman Sachs CEO’s missus said to behave obnoxiously at a big Hamptons designer sale, acting all impatient and causing a fuss; She didn’t want to wait in line “people who spend less money than me”

Posted by WSF On August - 5 - 2009

Big designer sales often bring out the obnoxious side of some people, and the annual Super Saturday in the Hamptons sounds like it was no exception.  According to Page Six, Goldman Sachs CEO Lloyd Blankfein’s wife didn’t think she should have to wait in line with the unwashed masses, making a big stink.  Not exactly the behavior that hubby Lloyd is trying to instill in all of his Goldman Sachs associates who have big targets on their backs these days.  (Blankfein himself isn’t known for his patience, though.) According to Page Six: Read the rest of this entry »

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Goldman Sachs, Lloyd Blankfein, WSF, Wealth

Earnings: As expected, Goldman Sachs posts really big numbers. The question: now what?

Posted by WSF On July - 14 - 2009


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Goldman Sachs, Lloyd Blankfein, WSF

Goldman’s $10B deTARPing finally happening tomorrow; More auto supplier bankruptcies coming?; Carlyle, TPG noodling over First Republic Bank buy; Verizon and AT&T say no texting price collusion; Adobe slumps; Best Buy says customers will spend carefully

Posted by WSF On June - 16 - 2009

  • Goldman Sachs to Repay U.S. Tomorrow, Blankfein Tells Lawmakers
  • More auto industry bankruptcies loom
  • Carlyle, TPG Said to Weigh Buying First Republic Bank
  • Verizon and AT&T deny collusion on texting prices
  • Adobe Profit Falls 41% on Slumping Software Demand
  • Best Buy Pres: Customers’ Careful Spending To Continue Read the rest of this entry »

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Credit Crunch, Goldman Sachs, Lloyd Blankfein, WSF

The Jim Cramer / Jon Stewart war may not be over as Cramer says “One day he’ll answer for it”; Goldman’s Blankfein flying coach ($GS)

Posted by WSF On May - 14 - 2009

Jim Cramer, Jon StewartJim Cramer apparently isn't over the criticism that Jon Stewart heaped on him during his visit to The Daily Show last March.  Stewart really seems to have gotten under his skin.  According to Page Six:

Read the rest of this entry »

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Goldman Sachs, Jim Cramer, Lloyd Blankfein, Politics, Private jets, Videos, WSF

Lloyd Blankfein deftly responds to protesters who interrupted his presentation

Posted by WSF On April - 7 - 2009


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Economy, Goldman Sachs, Lloyd Blankfein, Politics, Videos

Lloyd Blankfein’s speech to the Council of Institutional Investors

Posted by WSF On April - 7 - 2009

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Bonuses, Compensation, Goldman Sachs, Lloyd Blankfein, Politics, U.S. Treasury

Post Obama meeting after show: Lloyd Blankfein and John Mack give their thoughts to Erin Burnett

Posted by WSF On March - 27 - 2009


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Barack Obama, CNBC, Goldman Sachs, John Mack, Lloyd Blankfein, Morgan Stanley, Politics, Videos

Goldman may say “Take your TARP and shove it” as early as next month ($GS)

Posted by WSF On March - 24 - 2009

And then they can get back to business (like having conferences when and where they want to, paying bonuses without political interference, and snapping up smart new hires)  without the albatross known as TARP hanging around their necks. Word that Goldman wanted out emerged in early February.  According to the NY Times:

So here’s something else to ponder: Goldman Sachs is planning to give back its TARP money soon. Very soon, actually — ideally within the next month, according to people involved in the process. That’s a much quicker timetable than the end-of-year goal previously set out by Lloyd C. Blankfein, Goldman Sachs’s chief executive. As taxpayers, we should be thrilled that Goldman is going to quickly pay back the $10 billion it was given last October, right?

If Goldman Returns Aid, Will Others? – NY Times

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Bonuses, Compensation, Economy, Goldman Sachs, Lloyd Blankfein, Politics, U.S. Treasury

House Financial Services Committee inquisition: Prepared statements from Blankfein, Dimon, Lewis, Mack, Pandit et al $JPM,$BAC,$MS,$C,$GS

Posted by WSF On February - 11 - 2009

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Bank of America, Citigroup, Goldman Sachs, Jamie Dimon, John Mack, Ken Lewis, Lloyd Blankfein, Morgan Stanley, Politics, Vikram Pandit, Wells Fargo

Lloyd Blankfein’s thoughts on how to save Wall Street focus on what caused the problems in the first place; how compensation fits in $GS

Posted by WSF On February - 9 - 2009

Goldman Sachs CEO Lloyd Blankfein penned an article in today's Financial Times:  He offers a post mortem on what caused the problems that were so "humbling" to Wall Street, and shares thoughts on how to avoid them.   He calls for better risk management, rakes the rating agences over the coals and criticizes the over-reliance on them. He talks about poor risk assessment of position size.  In addition, he addresses off balance sheet financing that risk models didn't account for, and he suggests that the rapid growth of new complex financial instruments outpaced peoples' understanding of their downsides and their abilities to manage the risks. He also comments on fair value accounting.  And in his list of fixes, he talks about compensation, how as compensation increases, a larger percentage of it needs to be in equity….

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Goldman Sachs, Lloyd Blankfein

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