Commentaries

Could Goldman pinch CIT?

July 15, 2009

It appears the federal government is on the verge of walking away from CIT Group and the same can be said for Goldman Sachs–even though the investment firm is one of the mid-market lender’s biggest bankers.

Goldman rules are not for small lenders

July 15, 2009

Goldman Sachs’ second-quarter earnings, as jawdropping as the numbers were, did come with a few warning signs of trouble ahead. Most notably, the $1.2 billion in losses and write-downs the investment bank absorbed on commercial real estate loans, securities and related investments may be a harbinger of bad news to come from other financial firms.

In monopolies we love

July 15, 2009

The market is soaring today largely because chip-maker Intel reported better than expected earnings and Goldman Sachs bested even the most optimistic earnings predictions. But is it any shock that these two defacto monopolies would produce outsized earnings.

Tax Goldman

July 15, 2009

Goldman Sachs is entitled to make as much money as it wants from proprietary trading–that is trading stocks, bonds, currencies and bonds for its own account. But as long as Goldman benefits from bonds it sold with a government guarantee, it should pay an extra tax on those prop trading gains.

Who pays on Goldman’s CIT hedges

July 14, 2009

Goldman Sachs keeps saying it has no exposure is CIT Group were to go bust, even though it has a $3 billion line of credit to the ailing mid-market lender.

from Rolfe Winkler:

Goldman cuts leverage + CreditSights commentary

July 14, 2009

As predicted, Goldman reported blow-out earnings.  The market had been expecting as much, which is why the stock has been flat today.

Moving Goldman

July 14, 2009

So the big news to come out Goldman Sachs’ conference call is that it will start to move into its new building in the fourth quarter. And that means higher short-term occupancy costs as it will temporarily be located in two buildings.

Goldman Sachs earnings call

July 14, 2009

Goldman Sachs had a blowout second quarter, exceeding high expectations on its strong trading gains.

Bank of Goldman

July 14, 2009

Lloyd Blankfein, chief executive officer of Goldman Sachs and banker-in-chief of the US/world, didn’t disappoint as his investment firm once again proved that it’s second to none on Wall Street when it comes to printing money and profits.

You’ve come a long way baby

July 14, 2009

Though Goldman likes to downplay its own vulnerability during the financial meltdown last fall, its CDS levels provided by CMA DataVision paint a different picture. They also show just how far the company has come since the government pledged to support the big Wall Street banks through TARP and the FDIC bank debt guarantee program.