Posted by smeddum on October 23, 2009
New Jersey Pays Goldman Sachs for Swaps on Nonexistent Bonds
By Dunstan McNichol
Oct. 23 (Bloomberg) — New Jersey taxpayers are sending almost $1 million a month to a partnership run by Goldman Sachs Group Inc. for protection against rising interest costs on bonds that the state redeemed more than a year ago. Read the rest of this entry »
Posted in Financial crisis | Tagged: Fraud, Goldman Sachs | Leave a Comment »
Posted by smeddum on September 22, 2009
A Curious Snag In Debt-For-Equity Restructurings As Goldman And JPM Do A Stealthy Roll Up Of The Media Industry
Submitted by Tyler Durden
09/20/2009 19:11 -0500
While most hedge funds traditionally have an on-shore and an off-shore investment vehicle, the bulk of investable capital is allocated to accounts domiciled in the Caymans, Bahamas, Isle of Man, or some other tax “friendly” country, as LPs are never too crazy about that little snag known as taxes, and offshoring provides some nice and useful alternatives to said snag. Distressed hedge funds, those that acquire either secured or unsecured debt with the hope of equitization, are no exception. Yet equitization by essentially foreign vehicles is starting to get some dirty looks by regulators, which limit “foreign” equity investments in traditionally American companies and sectors. Some developments in the upcoming restructurings of media companies may put a new wrinkle on what is promptly becoming the most prevalent and profitable means for hedge funds to invest capital (not by necessity but for the simple reason that if a sector is not too big to fail, it is likely failing massively). The case of Citadel Broadcasting, which Zero Hedge discussed recently as commentary highlighting the lunacy of the current investment climate, is just such an example. Read the rest of this entry »
Posted in Uncategorized | Tagged: Avenue Capital, Banks, blogs, Citadel, Corporate Finance, debt, Fail, FED, Federal Reserve System, Fourth Estate, GE, GE Capital, General Electric, Goldman, Goldman Sachs, hedge funds, Hope, ION, JP Morgan, JPM, MAN, Media, Propaganda, Sales, Too Big To Fail, Treasury. Tribune, wall street, Wall Street Journal, Zero Hedge | Leave a Comment »
Posted by smeddum on September 14, 2009
Rolling the Dice Again: Packaging Life Insurances Policies Into Bond Products
by Ralph Nader
September 14, 2009
SleptonMag
The Wall Street gang is at it again! It’s been one year since Wall Street’s collapse and bailout took trillions from taxpayers and the sinking economy. The speculative instruments that pulled down the economy were those super-risky sub-prime mortgages, credit default swaps, collaterized debt obligations-you know-Las Vegas East, using other peoples’ savings. Read the rest of this entry »
Posted in Financial crisis | Tagged: derivatives, Goldman Sachs, Ralph Nader, wall st greed | 1 Comment »
Posted by smeddum on September 2, 2009
Goldman Sachs Wrong on Economic Recovery, Macro Hedge Funds Say
Cristina Alesci
Tuesday, Sept 1, 2009
Paul Tudor Jones, the billionaire hedge-fund manager who outperformed peers last year, is wagering that Goldman Sachs Group Inc. and Morgan Stanley got it wrong in declaring the start of an economic recovery. Read the rest of this entry »
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Posted by smeddum on August 1, 2009
Posted in Financial crisis | Tagged: Goldman Sachs | Leave a Comment »
Posted by seumasach on July 20, 2009
Paul Craig Roberts
17th July, 2009
There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.”
Posted in Financial crisis | Tagged: Financial crisis, Goldman Sachs, Obama agenda, stop the bailout | Leave a Comment »
Posted by smeddum on July 17, 2009
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Posted by smeddum on July 17, 2009
Posted in Financial crisis | Tagged: Goldman Sachs | 1 Comment »
Posted by seumasach on July 12, 2009
Click here for reference to Primakov’s resource rent tax.
Posted in Financial crisis | Tagged: debt bubbles, decoupling, dollar decline, farmland rush, Goldman Sachs | Leave a Comment »
Posted by seumasach on March 26, 2009
Wall Street’s most storied firm is surviving on taxpayer dollars
Daniel Gross, Slate.com
While it was singed in the credit meltdown, Goldman Sachs, the alpha male of Wall Street, has emerged as a survivor. The cover of last week’s Barron’s heralded the resurrection of Goldman and Morgan Stanley – “the sole standouts,” as Andrew Bary called them. The company’s shares have rallied back above $100, and its market capitalization is nearly $47 billion. Goldman’s emergence from the wreckage could be seen as yet another glorious chapter for the firm. Charles Ellis, in his book about Goldman, The Partnership, lionized the firm as the only company “with such strengths that it operates with almost no external constraints in virtually any financial market it chooses, on the terms it chooses, on the scale it chooses, when it chooses, and with the partners it chooses.” For the paperback, Ellis might want to add the following proviso: so long as the government is willing to give it billions of dollars.
Posted in Financial crisis | Tagged: Financier welfare, Goldman Sachs, stop the bailout | Leave a Comment »
In These New Times 