Comments on: Goldman’s conflicts, part 917

By: youniquelikeme

youniquelikeme — Wed, 14 Mar 2012 19:54:41 +0000

A Goldman former employee tells us clients are called muppets:

http://www.reuters.com/article/2012/03/1 4/us-goldman-smith-idUSBRE82D0RV20120314

By: Danny_Black

Danny_Black — Wed, 07 Mar 2012 08:40:50 +0000

Obviously wasnt clear. By organisations i meant like the greek dmo and buysides

By: najdorf

najdorf — Wed, 07 Mar 2012 08:08:32 +0000

“Also these organisations pay lots of money to consultants like Saul Haydon Rowe, Satyajit Das and Gustavo Piga. Weird, given how focused these people are on conflicts that they failed to mention this…”

So because Goldman pays not only their lapdogs but also their critics, we are to conclude that it is not possible to oppose crony capitalism and just figure out where to sign up for our checks? Please let me know where the line starts so I can get in right behind you.

By: Danny_Black

Danny_Black — Wed, 07 Mar 2012 04:21:18 +0000

Weird you didn’t quote the actual reason that GS was not happy about having the terms shopped around:

“It isn’t unusual for dealers to impose confidentiality requirements on clients in complex transactions to prevent traders from using the information to front-run or trade against the bank arranging and hedging the deal, said a former official who analyzed the swap and asked not to be named because the details are private. ”

Almost like you are trying to deliberately misrepresent the story….

I doubt GS could have stopped Greece going to other banks to try and structure a solution, it is just they were not allowed to shop around on the particular structure GS came up with. Also these organisations pay lots of money to consultants like Saul Haydon Rowe, Satyajit Das and Gustavo Piga. Weird, given how focused these people are on conflicts that they failed to mention this…

By: Solbro

Solbro — Wed, 07 Mar 2012 00:02:58 +0000

Its called arrogance. I think they call themselves “masters of the universe”

By: mfw13

mfw13 — Tue, 06 Mar 2012 23:59:22 +0000

“The question at this point is surely why any client would ever trust Goldman on anything”

A better version of this would read “the question at this point is surely why any SANE PERSON would trust any FINANCIAL INSTITUTION on anything?”

By: vpanagio

vpanagio — Tue, 06 Mar 2012 23:58:38 +0000

It’s about time someone should do something about GS. these guys are not just bankers but their main goal is destroying countries & peoples just for fun. They have placed former employees as heads of state without any elections (SEE ITALY, GREECE)to deal with other bankers. It’s like letting the wolves looking over the sheep.

By: philsci

philsci — Tue, 06 Mar 2012 23:40:37 +0000

Goldman could adopt the motto posted in my local bar: “We sc**w the other guy and pass the savings on to you.”

By: MFI-Miami

MFI-Miami — Tue, 06 Mar 2012 21:53:30 +0000

Max Keiser described Goldman in one sentence when he said, ‎”Goldman Sachs is a financial Hermaphrodite.”

By: Woltmann

Woltmann — Tue, 06 Mar 2012 21:15:09 +0000

All just illustrates why GS is superb incubator of civil service (career criminal) leadership especially at DoTreasury and the Fed. Why don’t we just quit with the BS and consolidate Treasury, Fed and GS as one .org. We could also integrate the US Senate just to complete the lean enterprise power loop.

By: youniquelikeme

youniquelikeme — Tue, 06 Mar 2012 19:24:53 +0000

That most people throw up their hands at Goldman’s antics makes me want to throw up…

“Whatever Goldman wants, Goldman gets … I always get what I aim for and your heart and soul is what I came for … Take off your coat, don’t you know you can’t win, You’re no exception to the rule, I’m irresistible you fool, give in”

…and Goldman management will be getting fat bonuses for the blogs complimenting their financial prowess…

By: AdamJ23

AdamJ23 — Tue, 06 Mar 2012 18:26:59 +0000

Felix- check your title- conflits, not conflicts. Also, I believe its part 918, not 917.

By: EpicureanDeal

EpicureanDeal — Tue, 06 Mar 2012 18:24:02 +0000

Well, yes, actually, that does seem to be Goldman’s special sauce. Competitors have marveled at it for years. They’re also excellent at doing a lousy job for their clients and persuading them after the fact that they hit the cover off the ball. Admirable, really.