Posts filed under “Financial Press”

NYT: Eloquent Goldman Bashing

13goldman-graf01

The whispers are rampant: Goldman Sachs earnings are gonna top $2 Billion in Q2.

On Tuesday, we will learn if they have pulled another rabbit out their hat — along with those $2B net. All the chatter has been about a surprise to the upside.

The NYT has an interesting article in Monday’s paper (online tonight) about Goldie. Its filled with some juicy quotes:

“On Wall Street, where money is the ultimate measure, Goldman is both revered and reviled. Its bankers and traders are sometimes referred to as the Bandits of Broad Street. An executive at a rival bank characterized Goldman traders as “orcs,” the warlike creatures of Middle Earth in J. R. R. Tolkien’s “The Lord of the Rings.”

Even mainstream America is taking notice. An article about Goldman in a recent issue of Rolling Stone, by Matt Taibbi, characterized Goldman as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Goldman dismissed the article as the ramblings of conspiracy theorists.”

Orcs? Vampire Squid?

When even the NYT gets into the spirit of eloquent Goldman bashing, you know you are seeing a new cultural zeitgeist take place.

Fun stuff . . .

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Source:
Goldman Sachs Likely to Post Huge Profits, Analysts Say
GRAHAM BOWLEY and JENNY ANDERSON
NYT,  July 12, 2009

http://www.nytimes.com/2009/07/13/business/13goldman.html

Category: Bailouts, Corporate Management, Earnings, Financial Press

Saturday Afternoon Reading

I will be otherwise occupied on this gorgeous Saturday with my M-in-L’s 85th B-day for whom we are hosting a BBQ /party! In the meantime, here are a few items I have NOT read, but want to get to in the coming days when time allows. • Cash is King: Take It to the Bank: …Read More

Category: Financial Press, Markets

Friday Afternoon Linkage

Some afternoon linkage before the weekend begins: • Geithner says derivatives blindsided the gov’t (Associated Press) • Beazer Homes, a one-company crime wave (Floyd Norris) • Subprime Resurfaces as Housing-Market Woe (WSJ) • Artificial Stimulus (Dan Gross, Slate) • ECRI on The Great Recession (2008-2010) (Canada Housing Crash) • Lost ‘Animal Spirits’ May Worsen Economy,…Read More

Category: Financial Press, Markets

Thursday Reading

All good stuff: • A law to tame wild bankers (Guardian) • All of the jobs created in the US this century have been lost (Econbrowser) • Economists Oppose More Stimulus (WSJ) • Shipping industry in deep water (Los Angeles Times) see also Shipping flashes early warning signals again (Telegraph) • Capacity Utilization vs. Inflation…Read More

Category: Financial Press

Wednesday Reading

Some interesting and random linkage: • Hall of Shame: 12 of the Worst Financial Gurus (Bill Shrink) • Wall Street’s Newest Product Is Tale of Denial (Bloomberg) • Quibbles With Quants (Psy-Fi) • Why U.S. Financial Markets Need a Public Credit Rating Agency (Berkeley Electronic Press) • Condo Boards Take On Lenders (WSJ) • Bob…Read More

Category: Financial Press, Markets

Afternoon Reading

Some interesting items that caught my fancy: • Picks and Pans From Market Pros (WSJ) • Study: Many Mortgage DefaultsAre Intentional (Time) • Interview: Rolling Stone Matt Taibbi of GS bashing fame (Wall Street Cheat Sheet) • Glut of oil could push gasoline prices back down below $2 a gallon (LA Times) • Oil, Gas…Read More

Category: Financial Press, Markets

Dropping the Truth on Squawk

David Rosenberg has been on Squawk Box for the past hour. He has been dropping the unvarnished Truth on the kids, powering through a basic set of reality regardless of dropped jaws and stunned silence. It has been a thing of beauty to watch. None of the things he is discussing is at all radical….Read More

Category: Economy, Financial Press, Television

Lunchtime Linkage

Some lunchtime reading while you inhale your sandwiches: • How Bad Are Auto Sales? 10 Questions and Answers (Time) • Unemployment is now far beyond the worst case (8.8%) of ‘Stress Test’ (Calc Risk) • Finally on line! The Great American Bubble Machine (Rolling Stone) • The Unwinding of Lehman Brothers (CNBC) • Sharp analysis:…Read More

Category: Financial Press

July 4th Weekend Linkfest!

Its been a while since we’ve had a full blown weekend linkfest, and given the long holiday weekend, why not? Its time for some random linkage. These are the articles, columns and links that caught my eye recently. (Some sites require registration) Let’s get clickin’ ! Trading & Investing • Stock analysts say outlooks will…Read More

Category: Financial Press, Markets

The Man Who Crashed the World

I cannot figure out why you PR people keep sending me PDFs of articles, but then don’t post it online. Do you want the publicity or not? If yes, than a) post it on your site; b) THEN send out the email. Its kinda hard to link to meatspace items on a blog . ….Read More

Category: Derivatives, Financial Press, Weblogs