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Don’t Call It A RescueAnd Don’t Ask Why The Fees Are Being Slashed Either

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Bloomberg reports today that the fees for the new non-bailout, non-rescue investors in Goldman Sachs’ GEO fund are being slashed or waived entirely.
“New participants won't pay the 2 percent management charge and Goldman will cut its performance fee in half,” Christine Harper and Katherine Burton report. A spokesman for Goldman has confirmed.
This somewhat undercuts the case that Goldman was making yesterday that the injection of new money wasn’t a rescue for the fund but simply allowing investors to take advantage of market opportunities. Unless by new opportunities they meant "investing in our hedge fund at a tremendous discount."
Goldman Fund Cuts Fees to Woo Investors After Loss [Bloomberg]


By Paul Elledge Photography [CC BY-SA 3.0], via Wikimedia Commons

Goldman Doesn’t Want To Pay *Its* Legal Fees, Either

Joseph Jiampietro knows what we're talking about.