Commentaries

A Goldman trading scandal?

July 5, 2009

Did someone try to steal Goldman Sachs’ secret sauce?

While most in the US were celebrating the 4th of July, a Russian immigrant living in New Jersey was being held on federal charges of stealing top-secret computer trading codes from a major New York-based financial institution—that sources say is none other than Goldman Sachs.

Stop the Wall Street pay stories

July 2, 2009

OK. I know it’s probably too hard for an editor to resist running out another story on excessive Wall Street pay–especially on the day when you know the US government is going to release another set of ugly jobs numbers.

The AIG bailout was about Europe

June 30, 2009

It makes for a much better storyline to say the federal government’s bailout of AIG was all about saving evil Goldman Sachs from collapse. But the reality is the bailout was driven more by a desire to keep scores of European banks from taking massive capital hits.

from Neil Collins:

Goldman shows a preference for Lloyds Banking

June 29, 2009

Too late to save Sir Victor Blank, Goldman Sachs has decided that the prospects for Lloyds banking Group are little short of glittering. Once the current crisis is past, says Goldman, the British banks will clean up.

Derivatives league table

June 26, 2009

Goldman Sachs is moving up the derivatives charts—with a bullet.

In the latest ranking of US banks with large derivatives exposure, Goldman moves up from fourth place to second, according a report from the Office of the Comptroller of the Currencey. The notional value of Goldman’s derivatives contracts at the end of the first quarter was $39.9 trillion, up from $30.2 trillion in the fourth quarter of 2008.

Deconstructing Goldman

June 26, 2009

I’ve had some requests from readers about how to locate a complete list of Goldman Sachs’ subsidiaries, following my column about a little-known Goldman subsidiary called Archon Group. My aim is please so here’s a copy of a recent Commonwealth Annuity and Life Insurance filing that contains the entire Goldman treasure chest of subsidiaries. The hunt starts on page 257 and runs through page 310. Enjoy.

Goldman’s derivatives puzzle

June 25, 2009

Earlier today I posted an item saying that Goldman Sachs is hard as ever to figure out, based on the kind of information (or lack thereof) that it publishes about its operations.  I focused on a little-known Goldman real estate management company called Archon Group.

Goldman still puzzles

June 25, 2009

Matthew GoldsteinInvesting in Goldman Sachs still requires a leap of faith in the investment firm’s ability to out-trade, out-wit and out-muscle everyone else on Wall Street.

Beware the Tarp repayments

June 25, 2009

Shares of Goldman Sachs and Morgan Stanley are trading like the financial crisis never happened. In fact, Goldman’ stock is trading at  price that’s right around where it was the Friday before Lehman Brothers filed for bankruptcy last September.

Short selling and the SEC

June 23, 2009

The subject of short selling can always be counted on to generate a lot of heat. And a proposed Securities and Exchange Commission rule that would put limits on the ability to short a stock–especially in a severe market downturn–is no different.