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Author Topic: Goldman Sachs  (Read 1033 times)
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WhiskeyGirl
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« on: July 13, 2009, 03:18:28 AM »

"ANALYSIS - Goldman Sachs profit bonanza could stoke anger"

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And, regardless of the results, critics may fall back on the old "Government Sachs" refrain, a nod to the number of former Goldman defectors now working in government, and claiming special treatment.

From a public relations standpoint, Todd said that leaves Goldman asking questions familiar to the oil industry as it contended with windfall profit taxes amid spiking gas prices.

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In a noisy second quarter, Goldman repaid $10 billion in TARP loans, while raising $8.9 billion in equity, debt and asset sales to win its way out of the government program.

After all these months, I don't see any reason companies like Goldman should have received TARP money.  Would they really have failed?  Or, would they have just missed paying company bonuses?

Would they have failed without the 'pass through' money from AIG? 

How much 'pass through' money did companies like Goldman get from AIG or other taxpayer recipients?

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Banc of America Securities-Merrill Lynch analysts said in a research note this week that Goldman could set aside as much as $17.9 billion for compensation this year...below the $20.19 billion set aside in 2007. Using Goldman's first-quarter headcount, that comes out to $642,000 per employee, based on the research estimates.

"Does the strong earnings and the employee pay-out mean it is back to the future and that they are wheeling and dealing and engaging in higher risk activities, as was true just a few years ago?" said Lawrence White, a professor at New York University's Stern School of Business. "We don't really know."

$17.9 at Goldman makes the millions at AIG seem like chump change.

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"In the financial realm, they are smartest guys around," said Bill Hackney, chief investment officer of Atlanta Capital Management Co, which owns Goldman shares. "I doubt there's any behind the scenes conspiracy among Goldman executives to cause them to have an unfair advantage in the market. This harping is just sort of sour grapes."

How much money do their former employees, employed by the government and Federal Reserve still have invested, either directly or indirectly?

http://in.reuters.com/article/businessNews/idINIndia-40989220090713?pageNumber=1&virtualBrandChannel=11584

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WhiskeyGirl
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« Reply #1 on: July 13, 2009, 03:26:34 AM »

"Goldman grabs hi-tech hacker"

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...Sergey Aleynikov, a highly successful 39-year-old computer programmer with dual Russian and American citizenship, is not all he seems, according to US authorities. The FBI has accused him of pulling off the hi-tech equivalent of an audacious, safe-cracking heist. He is charged with stealing software at the core of Goldman Sachs's electronic trading platform - a secret formula that gives the bank its competitive edge.

Aleynikov, says his lawyer, is one of the top technology geeks on Wall Street. Employed for two years at Goldman, he was on a salary of $400,000 (248,000) until a Chicago start-up, Teza Technologies, poached him in early June with an offer to triple his pay. Defence counsel Sabrina Shroff told the *******: "Only about 100 people in the world can do what Mr Aleynikov can do. He's a very marketable man."

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Aleynikov, who was arrested at Newark airport, New Jersey on 3 July, is accused of squirrelling away highly sensitive software through his computers at Goldman, and of uploading confidential code to a file-sharing server based in Germany. At a hearing in which a judge granted Aleynikov bail on a $750,000 surety, prosecutor Joseph Facciponte described the information in question as Goldman's "proprietary, high-quantity, high-volume trading platform with which they conduct all of their trades in all major markets within the United States and other places".


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Facciponte told the judge: "They guard the secrecy of this code very strictly," explaining that it draws information from stockmarkets in "milliseconds" to power sophisticated, highly profitable, automatic dealing. "It is something which they had spent millions upon millions of dollars developing over the past number of years, and it's something which provides them with many millions of dollars of revenue."

If they had this great software, why didn't they recover without the help of taxpayers?

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If Goldman's code got into the hands of a competitor, experts say the bank could find its most valuable tricks out in the open....

Maybe someone in the Obama administration could use this and make some money for taxpayers.

Read more here, this article is full of good news and scams -

http://www.guardian.co.uk/business/2009/jul/12/goldman-sachs-sergey-aleynikov
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It doesn't do any good to hate anyone,
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WhiskeyGirl
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« Reply #2 on: July 13, 2009, 03:30:29 AM »

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A criminal complaint filed by the FBI alleges that over the course of four days last month, Aleynikov uploaded 32MB of information from his employer, which is described in court documents simply as a "financial institution". However, it was identified by Wall Street sources as Goldman Sachs.

Is the FBI working on all the fruad mortgages at Freddie and Fannie?  Have they found anything about how, when, and where all that money went missing last year?

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The complaint describes the information stolen from Goldman as software code that drives a platform performing "sophisticated, high-speed and high-volume trades on various stock and commodity markets" by quickly obtaining and analysing information about changes in market conditions.

http://www.guardian.co.uk/business/2009/jul/06/golman-sachs-computer-codes-stolen
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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