As you may have heard, Goldman Sachs has “banned the use of profanity” in emails. Some are heralding the move as the end of Goldman, where describing the various ways in which clients are screwed (I kid the Sachsians) is part of the daily grind. And at another bank, staffed by unimaginitive fucks* whose lack of creativity is bested only by their mediocre grasp of the English language, this would be a paralyzing edict. At Goldman Sachs, it’s a mere challenge. Continue reading »
rules
Goldman Sachs Forces Employees To Come Up With New And Inventive Ways To Describe Not So Great CDOs Sold To Clients
By Bess LevinHedge Fund Manager Steven Bell Unwittingly Gives Ray Dalio A Few Ideas For Updated Version Of “Principles” While Decrying “Megalomaniac’s” Methods
By Bess Levin
Silly little Brit. Continue reading »
If you feel the need to tell the guy who sits next to you that you’re for real going to fucking kill him, do it in the men’s room. In that same vein, smart aleck comment such as “Oh yeah, I really wanna do you, Vikram,” when what you really mean is “not with Alwaleed’s dick,” should be deployed to his face. Continue reading »
Let it be known! Anyone daring to impugn on the integrity of Jim Cramer by, for instance, claiming he’s paid to act as a public relations specialist for Goldman Sachs (JC’s former employer) will be booted from the airwaves, and shamed by Erin Burnett. Continue reading »
The (Alleged) Secret To Barclays’ Success: Strict Enforcement Of Hiring Rule Generally Waived At Other Banks
By Bess Levin
This is the first bold claim in a Financial Times article today on how Barclays Capital has done so well for itself over the last 14 years: “most investment banks claim to have a ‘no-jerk’ policy on hiring.” Of course, on occasion, said rule is overlooked. Not too many times, once, maybe twice at Goldman Sachs. But at BarCap? NEVER (“at BarCap the policy is taken seriously from the top executive suites on down.”) It’s just one of the many ways the firm keeps its people grounded and in doing so has been able to consistently make it rain. Others include: Continue reading »
Apparently he’d had it with the commission’s freaky ass rules. Publicly, he’s talking about the ones relating to short selling, though odds are he wasn’t thrilled about this shit, either.
The U.S. Securities and Exchange Commission’s top economist is leaving the agency after Chairman Mary Schapiro merged his office with another and passed short- selling rules that hedge funds said ignored financial analysis.
James Overdahl, whose office reviews potential regulations to determine whether benefits outweigh costs, said in an e-mail today that he will step down March 31 to join NERA Economic Consulting. He joined the SEC in 2007 from the Commodity Futures Trading Commission, where he also served as the top economist.
So the SEC voted 3-2 in favor of restricting short-selling today, at the risk of pissing off Goldman Sachs, whose head of US equity trading Paul Russo had been lobbying against the proposal for some time. However, even Mary Schapiro knows that no one can truly make a full frontal attack on GS, and mitigated the rule to take into consideration Russo’s advice, deemed to be the “least harmful”: trigger a circuit breaker any time a stock has dropped 10% in one day.
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
