Goldman's Worries
(FOXBusiness) -- By Charles Gasparino
Goldman Sachs (GS: 177.5, 2.23, 1.27%) CEO Lloyd Blankfein has told people that he and his firm are so hated that he has gotten as much as 75 to 100 pieces of hate mail in a single day. But being the most despised firm in the financial industry may not be the firm’s biggest problem. Instead, what is keeping Blankfein and his senior management team up at night is the future of Goldman given all the new regulations that are likely to come out of Washington in the coming months.
Goldman, of course, isn’t alone. As Congress creates new rules designed to limit risk taking, and preventing banks from becoming too big to fail, every major firm is facing an uncertain future. Will they be forced to scale down as regulators are prodding Citigroup (C: 4.0875, 0.0675, 1.68%) and Bank of America (BAC: 17.21, 0.178, 1.05%) to do? And how much capital will they have to keep on hand if they engage in risky trading activities?
But Goldman, the most successful firm on Wall Street which produced $40 billion of revenues in 2009, and $12 billion in earnings, may be the firm with the most to lose given its success, particularly in the area of trading. Wall Street executives are bracing for new capital rules, meaning that trading activities will be limited. That’s one reason why Goldman Sachs has decided against a major buy back of its own stock, as was considered last year. The Feds warned against it because it depletes the firm’s capital...
Meanwhile, the firm is grappling with being the target of so much populist ire since it made so much money just a year after being bailed out during the financial crisis along with the other big banks. According to people close to the firm, senior executives still haven’t decided whether to launch an all-out media offensive including for the first time TV ads as the hate mail piles up...MORE...LINK
FOR LIBERTARIAN NATIONALISM: ANTI-CORPORATIST, ANTI-COMMUNIST, ANTI-GLOBALIST...PRO-SOVEREIGNTY, PRO-POPULIST, PRO-FREE ENTERPRISE
My Other Blog & Comments
News and Information Feed
-
-
GOOGLE IS EVIL30 minutes ago
-
Cellebrite: Big Fish In A Small Pond31 minutes ago
-
And Who Are You?34 minutes ago
-
Who Has Savings In This Economy?39 minutes ago
-
-
You’re either for mass murder or against it58 minutes ago
-
-
WATCH HERE: It’s ALL Coming Out1 hour ago
-
Detroit breaks NFL Draft attendance record1 hour ago
-
-
-
-
-
-
Monday Morning Meme Madness1 hour ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Important Announcement4 hours ago
-
CITIZEN OPEN THREAD — MONDAY4 hours ago
-
Open Thread4 hours ago
-
-
-
-
-
-
-
NATO wars6 hours ago
-
-
-
-
What Made America Great7 hours ago
-
-
-
-
Earth Day—A Phony Holiday7 hours ago
-
-
-
-
-
Gates of Vienna News Feed 4/28/20247 hours ago
-
-
-
-
-
-
Eugen Dühring12 hours ago
-
Follow the Money12 hours ago
-
The complicated truth about being stalked12 hours ago
-
-
-
-
What An Incredible Hike!13 hours ago
-
-
-
-
-
-
-
-
-
Why Biden’s Losing Young Voters14 hours ago
-
-
-
-
-
-
-
Sunday, April 28, 202417 hours ago
-
-
-
Arthur Topham RIP - ZOG Opponent19 hours ago
-
-
The Scramble For Antarctica19 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Month of the Leader, part 32 days ago
-
-
-
-
-
-
The Kim Iversen Show2 days ago
-
-
-
-
-
-
-
I Called It Five Years Ago!2 days ago
-
A Derb Tribute Show2 days ago
-
The dumbest decision.3 days ago
-
-
-
-
-
-
Democracy For Dummies5 days ago
-
-
-
-
-
-
-
-
Now Argentina Wants To Join NATO1 week ago
-
-
-
-
Tulsi Gabbard Left The Woke War Party3 weeks ago
-
-
-
-
Help Whatfinger Grow…4 weeks ago
-
-
-
Navigating Taxation Policy1 month ago
-
-
-
-
-
-
-
So sorry about tomorrow3 months ago
-
-
-
TFeed Index 20233 months ago
-
-
-
-
Headline 3: Of Christmas And Paganism5 months ago
-
Imagine Being This Desperate5 months ago
-
-
Hardcore7 months ago
-
Media Say ... Gloom And Doom In China7 months ago
-
-
U.S. Openly Militarizes Space8 months ago
-
-
-
-
-
-
Conversations With Cabbies10 months ago
-
-
-
-
Hegemon USA’s War on Truth-Telling11 months ago
-
-
-
-
-
-
-
-
-
Tips1 year ago
-
-
-
-
-
-
Man, Bear, Pig Event Coming1 year ago
-
-
-
-
-
-
-
-
-
What a Wonderful Stocking Stuffer!2 years ago
-
test2 years ago
-
-
-
-
-
#273 – Marc Randolph2 years ago
-
My Farewell Announcement2 years ago
-
My Farewell Announcement2 years ago
-
-
-
-
-
-
-
-
-
-
Farewell, for now3 years ago
-
-
Audio Book Lost Colony of Hatteras3 years ago
-
-
Cancel Yourself3 years ago
-
-
Hello world!3 years ago
-
-
-
-
-
-
The Non-Jewish Origins of Krav Maga3 years ago
-
-
-
Why the Marines are dumping their tanks4 years ago
-
-
-
-
-
-
-
Voxiversity Live Stream6 years ago
-
-
Home: A Recap6 years ago
-
Big Brother’s War on Cash6 years ago
-
-
-
-
By: Osamas Pajamas9 years ago
-
Join Our Mailing List12 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Wednesday, March 17, 2010
Hate mail piles up as Americans finger Goldman Sachs as the center of the Wall Street criminal web
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment