Goldman and Sacks have great quarter

evince

evince

Truthmatters
http://news.bbc.co.uk/2/hi/business/7997377.stm


The bank also said it would place $5bn worth of its stock on the market, to raise funds to repay an emergency $10bn loan provided by the US government.

Some analysts say the earnings results, up 13% year-on-year, suggest the worst could be over for finance firms.
 
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Yes good, they do not need any more money and can pay us back soon.

Now about breaking them up so they are not too big to let fail again....

This whole thing so far has been about a Rhinoscerous(sp?) in the house tearing heck out of the furniture. We just replace the furniture and all will be fine right?
 
evince said:
Regulations are truely needed to prevent this one from happening again.
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that and breaking up the finiancial giants that are too big to fail.
To me too big to fail means they are more powerful than the USA....
Not a good thought.
 
Yurt said:
bush is a failure as a president....ooooops, according to you bush's bailout is working....twice now desh....
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That certainly does nothing to save the conservative ideology since the bailout was decidedly against what any fiscal conservative wanted to see.
 
ib1yysguy said:
That certainly does nothing to save the conservative ideology since the bailout was decidedly against what any fiscal conservative wanted to see.
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so....i'm talking about bush....

if the bailouts work, great. you act as if this is the end of the world. obama said no more troops, absolutely make iraq worse....he was dead wrong...yet he gets a pass. how unsurprising
 
I really hope the banks are doing just great, but it brings to mind this story that didn't get much play at the beginning of the month:

http://www.businessinsider.com/bank...thers-toxic-assets-with-taxpayer-money-2009-4

Banks Plan To Bid Up Each Other's Toxic Assets With Taxpayer Money (GS, MS, BAC, C)
Joe Weisenthal*Apr. 2, 2009, 10:10 PM*32

We told you this was coming.
FT has learned that the major US banks, Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS) and JP Morgan (JPM) are all interested in buying toxic assets from one another, using the massive leverage provided by Tim Geithner's public private investment partnership.

This was a possibility folks saw coming from the first day, and amazingly, Sheila Bair has said she's open to this kind of money laundering.

And let's be honest, that's exactly what it is. Banks buying assets from each other to inflate their books has nothing to do with "price discovery" or any such nonsense. It's all about using taxpayer money to create bids that are higher than what the market currently prices those assets at. And if it turns out those bids were too high and the cash flows never materialize then, oh well, it's the taxpayer left holding the bag....
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It's been a great day. My portfolio has risen 6.228% today following Thursday's 4.284%!!! Yeee-harrr! as you say.
Looks like we are back on a roll! No, I know it isn't if you are American but I'm sure it will come ... sooner or later.


evince said:
http://news.bbc.co.uk/2/hi/business/7997377.stm


The bank also said it would place $5bn worth of its stock on the market, to raise funds to repay an emergency $10bn loan provided by the US government.

Some analysts say the earnings results, up 13% year-on-year, suggest the worst could be over for finance firms.
Click to expand...
 
evince said:
http://news.bbc.co.uk/2/hi/business/7997377.stm


The bank also said it would place $5bn worth of its stock on the market, to raise funds to repay an emergency $10bn loan provided by the US government.

Some analysts say the earnings results, up 13% year-on-year, suggest the worst could be over for finance firms.
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you copy an article with the name of the firm and you STILL fuck it up?

It is GOLDMAN SACHS... not Goldman and Sacks

Toppy....

1) Glass Steagall
2) fyi.... AIG is already being broken up.... that said, I agree....anyone else that is too big to fail is to big to exist. Break them down.
 
So much consternation about the fact that the bailout is working.
Yes one of Bush's handlers gave him the lowdown that the Bailout was needed or he would be remembered as the guy who Broke the US for an enternity.

The really funny part of it will be Obama will be the one who gets the credit for the bailout. He did the last traunch of it and it was the Rs who hated the idea right from the begining.

Regulations that watch over the market to keep firms from growing too large and from acting irresponsibley are the future of the market.

No more silly unfettered market crap to keep the monied interests controling our government.
 
evince said:
So much consternation about the fact that the bailout is working.
Yes one of Bush's handlers gave him the lowdown that the Bailout was needed or he would be remembered as the guy who Broke the US for an enternity.

The really funny part of it will be Obama will be the one who gets the credit for the bailout. He did the last traunch of it and it was the Rs who hated the idea right from the begining.

Regulations that watch over the market to keep firms from growing too large and from acting irresponsibley are the future of the market.

No more silly unfettered market crap to keep the monied interests controling our government.
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please, if you think that the Dems aren't beholden to their corporate interests as well, like Frank and Waxman, you're brain dead.
 
evince said:
"Regulations that watch over the market to keep firms from growing too large and from acting irresponsibley are the future of the market."
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Why not put regulations on all humans to stop them from acting irresponsibly? If its the wave of the future why stop at corporations?
 
cawacko said:
Why not put regulations on all humans to stop them from acting irresponsibly? If its the wave of the future why stop at corporations?
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Cawacko, we notice you got a speeding ticket the other day. We're going to put this government regulator on your car now so that you cannot drive over 25 miles per hour.
 
Thats what you guys equate to regulations on the market to keep us from a constant boom bust cycle?

Cute, really cute but no sane person is buying it anymore.
 
evince said:
Thats what you guys equate to regulations on the market to keep us from a constant boom bust cycle?

Cute, really cute but no sane person is buying it anymore.
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LOL... wasn't this stuff talked about during the '90's, that we can now 'control' the economy so as to prevent future up's and down's?

No sane person is buying that we can somehow make the economy non cyclical and just regulate ourselves into consistent straight line growth.
 
cawacko said:
LOL... wasn't this stuff talked about during the '90's, that we can now 'control' the economy so as to prevent future up's and down's?

No sane person is buying that we can somehow make the economy non cyclical and just regulate ourselves into consistent straight line growth.
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exactly.... they thought they could regulate the cyclicality out of the market with their monetary/fiscal policy.... in the end, it was their monetary/fiscal policy that put us so deep in this current mess.
 
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