Now that Goldman has received the green light to pay back TARP, the firm’s next hurdle is losing the commercial bank holding company status. While Goldman’s overall model has not changed much since it became a commercial bank in September, it is subject to additional supervision and regulations that constrain profitability.
With the worst of the financial crisis seemingly over, the benefits of being a bank holding company are outweighed by the restrictions and conditions, said Tom Sowanick, the chief investment officer of Princeton, New Jersey-based Clearbrook Financial LLC.
Since Goldman became a commercial bank, industry watchers have said the change would expose the firm to stringent capital requirements, dampening its ability to use borrowed money to boost profits for its lucrative proprietary trading business.
It is going to be a long road back to the point where regulators have some degree of trust in large firms to not blow up themselves or the banking system. Given all the GS favoritism conspiracy theories in DC, allowing them in particular to crank up the leverage again seems unlikely.
Goldman could shed “commercial bank” charter [Reuters]
something tells me the commenters are going to open another can of whoop-ass on you GM (nice initials btw)
I am Brett Michaels.
Greg, stop embarrassing our family.
Who is Marla EP ?
Greg LooseANUS!
@3- what tipped you off? the eerily similar painful attempts at humor?
To TGFD, the most egregious “GS favoritism” is the AIG payout of taxpayer dollars at 100% to GS, to the tune of , was it $25 Billion for CDSs. TGFD’s ass is thoroughly frosted by that one.
The Fed told AIG to do it, so I read.
The Guy from Delaware
Next week, we’re going to start the Greg Michaels Death Pool. I think it is highly probable you’ll run out screaming in the middle of the day, so we’ll allow people to purchase hour time blocks. The person who is closest (without going over of course) wins.
$20 buy in. Bess can hold the money for us.
I’ve got June 30th at 1 pm.
@7
I can do that time as well.
@Greg Michaels…
It appears that you have even more detractors that TGFD does. More venom spewed your way too.
Maybe some of your guests like 1,2,4,7, & 8 would volunteer to write a column or two for DB. Let’s see how well they do.
Initially, TGFD thought the crowd might have been poking at you in jest, but now I’m not so sure.
For what it’s worth, I think you’re doing a good job.
The Guy from Delaware
Greg, this guest has bit his tongue since you arrived, but do you understand the concept of Dealbreaker?
You take financial news of interest and you satirize it or just go all snarky, and it comes out funny. I hate EP bits, but at least that person gets the concept.
This effort could be on Bloomberg and I would not have questioned it.
Nobody comes to Dealbreaker for what they can get on Bloomberg, Greg.
Now, if another guest could show up as Greg’s mom again, that would be great, as that bit is the only redeeming part of the GM authored works.
Greg,
Did you wash behind your ears this morning? Don’t let me tell you again where those earwigs go to hide!
Mum
(Oh, and don’t take advice from strange men like TGFD)
Greg, as your mother, you must know, I have unconditional love for you. With that being said; you are embarrassing yourself and our entire family name.
Please stop.
P.S. I am cooking lamb chops for dinner, Greg, do you want them well done or medium? No, you cannot have any adult drinks simply because it is Friday. Get a real job.
-Greg’s Mom.
@9
I didn’t apply for the job when it was opened because I knew I could not improve upon the product Bess was producing on a daily basis. DB had just the right mix of news, snark and analysis to make it worth coming back to. Had I applied, and somehow made it to the selection process, I would’ve produced an inferior product, which benefits no one.
Greg accepted the position and has taken on the mantle of responsibility that comes with an open forum site such as this. If he cannot handle the public scorn of his inferiority, he should seek out a publication that shields its writers from criticism.
If Greg were smart, and actually wanted to succeed at this job, he’d not general trends that develop in the comments and adopt his writing accordingly. For example, Greg is not telling us anything we don’t already know. If your going to report “aged news” best do it with wit. Greg is unfortunately not very witty.
The Guy From Shut The Fuck Up
Bess is the only DB writer who’s amusing, but she’s becoming very repetitive. EP tries but often fails, and this Greg loser is just a sorry joke.
@14- it sounds like you don’t like any of the DB readers (even Bess gets a dig) which begs the question, wtf are you here reading and commenting?
@15: I’m just curious to see what headlines are grabbing attention on cyber-land.
~ 14
@16- hmm, you’re only checking out the headlines and yet are claiming bl is getting repetitive? interesting. also, clearly you didn’t read yesterday’s citadel post.
Version #1
The Gimp From Delaware
Version #2
The Gay From Delaware
Version #2
Yep, that works much better.
TGFD
Clown@#18/19/20…
In case you haven’t been keeping up, check out paragraph 6 from the following:
http://dealbreaker.com/2009/05/we-need-to-have-a-chat-about-c.php
Are you up for the wrath?
The Guy from Delaware
21 I though that fridays were exempt? Or was that just a proposal, not the rule yet? (not 19/20/21)
GM should have said he was a chick and all of these idiots would have been fawning all over him.
Writing is spot on, way above carney. keep up the good work.
Guest@#22…
Good point. TGFD hasn’t heard anything beyond the “proposal” stage, either.
How about if we call it something like “AnythingGoes, WhateverTheFuck, Penalty-Free, Friday Afternoon”.
That will bring out all the tools, for sure.
The Guy from Delaware
p.s. Thanks for writing something constructive for Mr. Michaels to read.
TGFD’s p.s. from #24 was directed to #13. I missed writhing that.
The Guy from Delaware
@23 GM isn’t a chick?? i’ve made a huge mistake…
Greg,
Keep shining don’t even think twice about what these shitheads (haters) have to say.
-PropDres
Greg,
Keep shining don’t even think twice about what these shitheads (haters) have to say.
-PropDres