Yes, everyone’s had their knickers in a twist since Monday over Goldman’s $450 million investment in Facebook but Charlie Gasparino says back that truck up– Lloyd Blankfein may have made the rookie mistake of listing himself in a relationship too soon, according to one of two sources. Continue reading »
good one
Interesting Theories: Goldman Sachs Execs Starting To Give A Rat’s What People Think About Them
By Bess Levin
In the wake of the SEC charges, the bank is reportedly doing some serious “soul-searching” and “heading down a spiritual journey,” which may lead to some sort of “revolutionary announcement.” What could it be? That the prop team being “spun off” into a separate hedge fund will actually spend its days in a rented office space on Third Avenue working on a letter writing campaign to bring back Zubaz, Lloyd Blankfein’s preferred choice of pant? Stay tuned. [Reuters]
Michael Lewis Has Clearly Not Heard That In An Unprecedented Move Goldman Sachs Has Been Deigning To Speak To, Buy Sushi Lunches For Clients
By Bess Levin
Some serious crystal balls on this one.
If he had, I don’t think he would’ve made the following prediction, or the even insanely ballsier one that some GS employees will leave the firm to start hedge funds.
“This is a prediction that is going to come back and haunt me, but I think that Goldman Sachs is doomed. I don’t think that in its current form it can survive. We could be looking at four to five years, but the proprietary activities will split off, those people will end up in their own hedge fund – that is if new regulation doesn’t forbid it anyway.” The PR problems, Lewis thinks, will just be insurmountable. “Their relationships with customers on every front are poisoned, and they can’t function as an investment consultant if they have this problem of honesty.”
The Scrooge of Wall Street who says we should blame Americans [CityAM via BI]
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