Goldman Sachs

From TIC’s Big March Number Right To Powell’s Future Rate Cut(s)

By |2019-05-16T17:24:10-04:00May 16th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Perhaps it shouldn’t come as a surprise. After all, during the first quarter of this year several key banks announced they had had enough. Goldman Sachs, Nomura, Credit Suisse, as well as others, they all broadcast cuts to key operations. The FICC stuff, or bond trading to put it euphemistically. The very place the world [...]

‘Bond Trading’ Exodus, The Global Economy’s Q4 Landmine

By |2019-04-05T17:42:38-04:00April 5th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It isn’t just US or European banks which are shrinking. The nature of this post-August 9, 2007, world is just that – global. Sure, there are regulations which have made investment banking more expensive. But there isn’t a rule or law that Wall Street (really Lombard Street) wouldn’t “discover” a way to circumvent it if [...]

Being An Economist Means Never Having To Say Deflation

By |2019-02-11T17:19:07-05:00February 11th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In January 2017, there was a lot of praise for Goldman Sachs especially in London. This stood in obvious contrast to another global peer being savaged. While Deutsche Bank couldn’t pull its name out of the sewer, GS’s London unit was heralded for standing up when the market needed it. Brexit was a fascinating story [...]

Chinese Robots, New York Heartburn, and Goldman Sach’s Central Role

By |2019-02-05T17:59:06-05:00February 5th, 2019|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In the continued absence of regular data, as the US federal government attempts to get back up to speed before the next lull, it is perhaps appropriate to continue on with this week’s parade of anecdotes. Here I’ll discuss three of them, each seemingly unrelated to the others. To begin, we start with Chinese robots. [...]

No Bonuses For Goldman Execs

By |2008-11-18T12:33:42-05:00November 18th, 2008|Markets|

Via MarketWatch: Pressured by an almost-unprecedented financial meltdown and a gathering outcry over executive pay on Main Street, Goldman Sachs Group Inc. reportedly will pay no bonuses in 2008 to its top management -- a move that may set the precedent across a troubled Wall Street. The executives will only receive their base salaries of [...]

Meet the New Boss

By |2008-10-07T13:19:08-04:00October 7th, 2008|Economy|

The Treasury Department yesterday named Neel Kashkari as interim assistant secretary for financial stability. Will Kashkari be working for the Ministry of Truth? And who was Mr. Kashkari's last employer? None other than Goldman Sachs. As Arnold Kling points out: Instead of thinking of the pending bailouts and financial regulation as a new era of government supervisions of [...]

Buffet Buys Into Goldman

By |2008-09-23T22:42:11-04:00September 23rd, 2008|Economy|

Via WSJ: Warren Buffett's Berkshire Hathaway announced plans to invest $5 billion in Goldman Sachs Group Inc., which recently decided to change its structure to a bank-holding company from an investment bank. In addition to the $5 billion from Berkshire Hathaway, which comes in the form of perpetual preferred shares, Goldman will raise at least [...]