p*****e
发帖数: 7299 | 1 http://www.businessweek.com/magazine/content/10_15/b4173030234603.htm
Goldman Sachs: Don't Blame Us
When it comes to its role in the financial crisis, Goldman Sachs has a
message for the world: Not guilty. Not one bit
The bankers at Goldman Sachs (GS), by traditional measures, ought to be on
top of the world. Eighteen months removed from the depths of the financial
crisis, Goldman posted a $13.4 billion profit in 2009, a Wall Street record.
When Chief Executive Officer Lloyd Blankfein went on a | p*****e
发帖数: 7299 | 2 Blankfein was not made available, despite repeated interview requests. Over
the course of a week the interviews addressed three major allegations: one,
that Goldman duped AIG and, subsequently, the U.S. government, into paying
fully for credit-default swaps insuring mortgage securities; two, that it
took short positions on the collateralized debt obligations that it had
created and sold to clients (thereby betting against them); and three, that
it stuffed these CDOs with inferior mortgage assets | p*****e
发帖数: 7299 | 3 The AIG-related charges against Goldman go further. Critics such as AIG's
former chief executive, Maurice R. "Hank" Greenberg, have contended that
Goldman caused AIG's demise and that Goldman should have known, as basic due
diligence, that AIG was in way over its head.
Hogwash, says Goldman. Although in hindsight it appears obvious that AIG was
a patsy, that was not known when those deals were made. At that time, AIG
was widely regarded as the world's foremost insurance company, with a triple
-A | p*****e
发帖数: 7299 | 4 Beyond duping AIG, Goldman has been accused by Greenberg and others of
selling mortgage securities to pension funds and other investor clients,
then shorting the market. In other words, it has bet against its own clients.
Schwartz, exhaling loudly, says the very notion reveals a fundamental
misunderstanding of Goldman's reason to exist: market-making, or connecting
buyers with sellers. In the ebb and flow of the market, buyers and sellers
can't always be immediately matched, so market makers oft | p*****e
发帖数: 7299 | 5 The adjective is tactically (and somewhat tactfully) employed to argue that
these clients were fully consenting adults and that Goldman cannot be held
responsible for facilitating their bad decisions.
The third major allegation against Goldman gets right into the dirty details
of what went into the CDOs, or what became known as toxic mortgages.
Critics such as Janet Tavakoli, president of Chicago advisory firm Tavakoli
Structured Finance and a onetime Goldman mortgage analyst, accuse the firm
of | p*****e
发帖数: 7299 | 6 The remainder Goldman paid to its own counterparties to acquire the mortgage
securities underlying the credit default swaps AIG had written, which
Goldman handed over to the Fed. So while the firm certainly would not have
wanted to receive less than a full payout, its survival did not depend on it
. This, it contends, quashes the notion of a back-door bailout that saved
Goldman from extinction.
Talking to top Goldman executives, I couldn't resist asking the obvious
question: If the firm could ju | D******e
发帖数: 1085 | 7 Government through hidden channels has bought out the risky mortgage from GS
.
1.25 Trillion mortgage has gone to the government. They sold them at face
value. If they were sold on the open market, every bank would have failed.
The 1.25 Trillion announcement was the turning point in March 2009. When
the brokerage firms knew they could unload their under water debt last year,
they started to buy stocks aggressively.
It is a hidden bailout designed by the crooked bankers and politicians to
hi | p*****e
发帖数: 7299 | 8 你最后一句错了，侯赛因也是狗剩的傀儡，不然也不会有这1.25T
GS
.
year,
【在 D******e 的大作中提到】
: Government through hidden channels has bought out the risky mortgage from GS
: .
: 1.25 Trillion mortgage has gone to the government. They sold them at face
: value. If they were sold on the open market, every bank would have failed.
: The 1.25 Trillion announcement was the turning point in March 2009. When
: the brokerage firms knew they could unload their under water debt last year,
: they started to buy stocks aggressively.
: It is a hidden bailout designed by the crooked bankers and politicians to
: hi
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