Goldman Sachs May Pay Record Bonuses (Guardian)
If all goes according to plan!
AIG Trading Partners Put Squeeze On Insurer Before Bailout (Bloomberg)
“Goldman is to be congratulated for seeing the problem ahead of others and protecting itself from the impending failure of AIG,” said William Poole, former president of the St. Louis Fed, in an interview last week. “It’s not the responsibility of any private firm to determine what the public interest is — that’s why we have a government.”
Bankers’ Pay Soars In Attempt To Halt Exodus (FT)
“Market salary rates for managing directors have jumped from about $250,000 (€180,000) only a few months ago, to closer to $400,000. As well as base salary hikes, banks are once more offering guaranteed bonuses to staff approached with lucrative offers by rivals. Bank of America, for example, has seen off attempts to poach top Merrill bankers by matching or bettering offers.”
Morgan Stanley Topples Goldman As M&A Leader (NYP)
YTD through Friday, MS has been the lead adviser on $175 billion worth of US-based M&A deals, surpassing Goldman Sachs, which advised on $158 billion worth of deals.
Berne says U.S ready to move in UBS tax case (Reuters)
“U.S. authorities could be willing to make a deal in a legal case against Switzerland’s biggest bank, UBS, after the countries agreed a double taxation treaty last week, the Swiss president said on Sunday.”
Hedge Funds Boost Profile In Lobbying (WSJ)
Biggest spenders on lobbying since 2007 through Q1: Managed Funds Association, Citadel, Coalition of Private Investment Cos, OZ Management, Elliot Associates, Fortress, HBK.
RBS To Incentivize CEO (Telegraph)
He’ll get $15.8 million “if shares recover to 70p withing three years.” Contract includes a “no rewards for failure” clause.
Bill Gross Is On Treasury’s Speed Dial (NYT)
“Paulson will call, Geithner will call, and I’ll be like, ‘Yabba-dabba’ or ‘Blah-blah-blah,’ ” he says with a measure of self-deprecation — and an equal dose of pride. “I turn into a walking, talking idiot.”
On perceived conflicts of interest: “Gross immediately adds that this mortgage trading operation is completely separate from the one on the floor below, where traders are working on behalf of the Fed. He says he can’t even visit that floor himself anymore without a company lawyer at his side. The last time he did was in December, when he wished the traders happy holidays.
“I said, ‘Merry Christmas,’ ” Mr. Gross recalls. “The lawyer said, ‘Mr. Gross says Merry Christmas.’ Right then and there, I knew that communications were basically severed. That’s the way the Fed wants it.”
Wow, first story at 7:30am today as opposed to 8am. You’re so dedicated.
@1 good to see you’re dedicated to being a dick for no real reason (or did someone wake up on the wrong side of the bed)?
fuck hell yeah!
-blankfein
‘Yabba-dabba’ or ‘Blah-blah-blah,’
why do I get the feeling that’s ACTUALLY what he says?
I’ll incentivize your ass, Hester. –Goodwin
@1 when did you start working today? and by “working” I mean cocksucking.
Bill Gross sounds like the pervy neighbor from Family Guy who wants to bang Chris.
UBS: defining ‘suck’ for the first half of the 21st Century.
@8 they helped me out a lot in the tax department.
@1 woke up with a massive dick in his mouth
@1 works for UBS. Demoing his ‘sucking’ abilities.
You missed the big story about GS (Bloomberg).
I wouldn’t say I missed it, Bob.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAfpm.etB2wY
“Goldman is to be congratulated for seeing the problem ahead of others and protecting itself from the impending failure of AIG,”
should we be s’ing their d’s too?
“Bill Gross Is On Treasury’s Speed Dial”
what for? they are not too-big-to-fail. timmay should just assume everything’s a-ok there and not waste billy boy’s valuable cnbc time.
http://online.wsj.com/article/SB124537245375429931.html
“Fed’s Next Job: Figuring Out Just Who Is Too Big
Only a Handful of Firms May Be Tapped for Strictest Oversight”
“Big money managers such as Pacific Investment Management Co., or Pimco, and BlackRock Inc. mightn’t qualify because they aren’t as leveraged as commercial or investment banks.”
Yea, sure Bill. I believe you.
@14
…and sticking it to the taxpayers.”
@13
OK, enough of this CDS scam. What’s going to blow up next? Citi? State of California? What’s Goldman recommending you to buy today? Short it.
7 FTW!
From Reuters:
Goldman Sachs faults NY Times story on AIG risk
Sun Sep 28, 2008 3:13pm EDT
“Goldman Sachs Group Inc rejected as “seriously misleading” a published report on Sunday that said the Wall Street bank had as much as $20 billion of exposure to the troubled insurance giant American International Group Inc.
The New York Times had said Goldman was AIG’s largest trading partner, citing six people close to the insurer. It also said a collapse of AIG threatened to leave a hole of as much as $20 billion in Goldman, citing several of the people.
The report contrasted with a Sept 16 comment by David Viniar, Goldman’s chief financial officer, on a conference call with analysts that Goldman’s exposure to AIG was immaterial.”
Goldman: Heads we win, tails you lose
@2 Nice guys get pounded in the ass. I’m sorry I hurt your feelings…you pussy.
bill gross is a rent-seeking fascist cocksucker