Goldman Sachs

dimon_blankfeinTheir performance reviews must have gone really well. Read more »

lloyd blankfein gary cohnDon’t want to get anyone upset over nothing or be unnecessarily alarmist but there is a slight possibility that shitty earnings may translate to shitty bonuses. Read more »

  • 16 Jan 2015 at 1:25 PM
  • Banks

Horrific Bank Quarterlies Not Funny Anymore

BATTEN DOWN THE HATCHES!

BATTEN DOWN THE HATCHES!

So the clowns over at Citigroup had another underwhelming performance? What else is new? Brian Moynihan still look like his favorite Irish setter was just flattened by an asphalt roller? Yawn. JPMorgan Chase still being held upside-down by the Justice Department until all of its profits (and then some) fall out? Unfortunate, but not unexpected.

Goldman Sachs taking a 7.1% drop on fixed-income, currency and commodity trading? Now it’s fucking serious. Read more »

jamie dimonJPMorgan Chase & Co.’s parts are probably worth more to investors than the whole after regulators proposed tougher rules penalizing firms for size and complexity, according to Goldman Sachs Group Inc. JPMorgan could unlock value by splitting its four main businesses or dividing into consumer and institutional companies, Goldman Sachs analysts led by Richard Ramsden wrote today in a research note. Units of New York-based JPMorgan trade at a discount of 20 percent or more to stand-alone peers, they wrote. [Bloomberg]

Bonus Watch ’14: Goldman Sachs Déjà Vu

No miracles on Fleet Street this year.Top London staff may be having an unpleasant stagnant feeling. Like they’ve been here before. Because they have. Read more »

Here to help.And it’s going to do it the hard way: Not by buying someone else’s ETF platform, both because that wouldn’t really be a GOLDMAN SACH ETF platform and because there’s no sport in it, but by doing it all themselves. Maybe with a little help from on high. Read more »

God Smiles Upon His Chosen Bankers

Par-ty!If you had any doubt that the Big Guy (well, the other Big Guy) plays favorites, he bestowed a nice little treat on the House of Lloyd this week. Read more »

toysrusThe investment banks promised favorable research to Toys “R” Us Inc. and its private-equity owners to win roles in its initial public offering, the Financial Industry Regulatory Authority said today in a statement. The regulator fined the firms a total of $43.5 million, faulting them for “implicitly or explicitly” making promises that their analysts would give positive coverage. Six of the 10 firms didn’t have adequate supervisory procedures to prevent the practice…In May 2010, Citigroup’s investment bankers hosted a chaperoned call with the firm’s research analyst, who then e-mailed a supervisor. “I so want the bank to get this deal!” the analyst said in the e-mail, according to Finra. Days later, bankers told the retailer that they could “count on Citi’s firm-wide support and advocacy for the Toys story and valuation.” Other firms contacted Toys “R” Us after making their pitches, expressing enthusiasm about the firm’s prospects and providing assurances that the views of bankers and analysts were aligned, Finra said. Toys “R” Us and investors, including KKR & Co., withdrew the IPO filing last year. [Bloomberg]