Commentaries

Goldman, what about the FDIC-backed debt

July 22, 2009

Goldman Sachs is trumpeting the fact it just paid the federal government $1.1 billion to buyback the warrants it gave the Treasury Dept. as part of last fall’s baillout package. But Goldman still is benefiting from the government’s largess by sitting on some $22 billion in FDIC-guaranteed debt it sold this past winter.

Goldman’s trading secret

July 22, 2009

LONDON, July 22 (Reuters) – Goldman Sachs last week reported record net revenues from trading and principal investments ($10.8 billion) during the three months ending June, with the major contribution coming from the fixed income, currencies and commodities segment ($6.8 billion).

What’s the frequency, SEC?

July 21, 2009

Sergey Aleynikov is not the Wall Street folk hero that some Goldman Sachs conspiracy theorists are making him out to be.

Jamie vs. Lloyd

July 20, 2009

Depending on your point of view, Jamie Dimon is the saint of Wall Street and Lloyd Blankfein is Wall Street’s biggest villain. Or vice-a-versa. Or maybe they’re both villains.

Who will be CIT’s Buffett?

July 17, 2009

The behind-the-scene negotiations surrounding CIT Group’s threatened bankruptcy filingĀ is bringing to mind the 2001 collapse of Finova, another sizeableĀ mid-market lender.

Tax Goldman debate heats up

July 17, 2009

The idea of taxing Goldman Sachs and other banks that engage in prop trading is heating up.

The Factor

July 17, 2009

Don’t worry this is not a column about Bill O’Reilly, the voluble Fox News personality. No, what I’m talking about is the bread-and-butter business of CIT Group, the mid-market lender now limping along on life support.

Goldman needs to retire its FDIC-backed debt

July 17, 2009

If Goldman Sachs wants to go back to the future and keep setting aside record sums of money for compensation and year-end bonuses, it should first retire all of its oustanding FDIC-backed debt.

Tax Wall Street trades

July 16, 2009

Reports of the death of the investment bank have been greatly exaggerated, as Mark Twain might have put it.

Goldman, liquidity and VAR

July 16, 2009

Goldman Sachs’ second-quarter earnings release showed a continued increase in the amount of market risk held on the firm’s trading book. Its risk appetite has continued to expand at a time when extreme turbulence has forced others to scale back.