One would think that TBTF bank CEO’s would have learned from Lloyd Blankfein’s epic blunder when he stated that Goldman Sachs was doing God’s work in an interview- inciting a firestorm of negative publicity for the bank…
One would think.
It appears that Bank of America CEO Brian Moynihan must have missed the memo.
In an interview with Charlie Rose airing last night, Moynihan made the Blankfein mistake. [Read more...]
CNBC Original takes a revealing look at Wall Street’s most powerful and profitable bank fighting to restore its reputation through a one-hour documentary reported by CNBC is David Faber.
CNBC takes viewers inside the firm is tightly knit corporate culture of extraordinarily driven professionals to help explain both its success and the reasons why it is come under such widespread criticism. The program looks at how Goldman Sachs’ aggressive trading culture has come under scrutiny both in Washington, D.C. and on Main Street, amid accusations that the investment bank misled investors. Faber reveals how Goldman Sachs benefited from controversial deals before, during and after the global economic crisis. The one-hour documentary also considers Goldman Sachs’ unparalleled presence in Washington. Numerous executives from Henry Paulson to Robert Rubin and Jon Corzine have left Goldman Sachs over the years to take on influential roles in government. Faber speaks to critics who question whether the firm’s presence in Washington gave it an unfair advantage in surviving the global financial crisis.
Full Vampire Squid documentary is below: [Read more...]
In the midst of gold and silver’s relentless attacks last week by the cartel, we wrote that investors should be prepared for a potential bottom in gold and silver on or around Monday 2/25, options expiration in both gold and silver.
Goldman seems to have validated that call this morning, as only one day after March options expiration, the Vampire Squid has advised clients to sell gold, slashed its 2013-2014 outlook for gold to $1450/oz, and called for an end to the gold bull market. [Read more...]
God’s workers at the Vampire Squid endured a PR nightmare last year after a former director wrote an op-ed in the NYT claiming that Goldman routinely traded against their own clients, and referred to their clients internally as muppets.
While Muppet-Gate has passed for Goldman, it appears that the business of intentionally fleecing clients continues as usual, as Goldman issued its clients Monday a recommendation to sell positions in Heinz (HNZ) on risk of continued top line disappointment, which today (only 3 days later) was acquired by Warren Buffett’s Berkshire at a 20% premium to the last share price.
God’s worker indeed. [Read more...]
The CFTC has announced that live reporting of Swap transactions and swap dealer registration began on December 31st 2012.
Our banker friends had lobbied extensively to delay or cancel the implementation of these requirements of the Frank/Dodd legislation, whining that they would be too costly to enact. In reality, the cockroaches did not wish to have the light of day shining in the corner where they congregate.
Jamie & Lloyd cannot be pleased. Wasn’t lobbying the regulatory agencies part of Blythe’s new job description? [Read more...]
The legendary Jim Sinclair, who yesterday advised readers that the current take down in the metals market is The Great Train Robbery, in which the Goldmans of the world are going massively long in gold, has sent an email alert to subscribers advising that the post QE4 gold and silver take-down is a move of desperation by the Fed via the gold banks based on the false premise that attacking symptoms without meaningful economic intervention is going to cure the problem.
Sinclair states that using charts or technical analysis in such a manipulated and manufactured market is totally useless, but that gold is going to $3,500 and above, and the dollar to .72 and below, as soon as the Fed’s take-down is completed and the Goldman boys have adequately stuffed their pockets with gold.
Full MUST READ alert below: [Read more...]
The legendary Jim Sinclair (who called the current bull market before anyone over a decade ago) has long maintained that the bullion banks would make the lions share of the profits in this massive secular bull market, not the average gold investor.
Sinclair has sent an alert to metals investors today, advising that the current massive take-down in the metals is the end-game, and the Great Train robbery is in progress in which the Goldmans of the world will go massively long in gold.
Sinclair states that as soon as the bullion banks have grabbed every last available ounce of gold they can lay their hands on, gold will EXPLODE to $3,500.
MUST READ! [Read more...]
The legendary Jim Sinclair sent an email alert to subscribers this weekend, warning that dollar based entitlement payments will be reduced to nearly meaningless levels on a single day, and that the result will also solve the health care cost crisis in the US, by accelerating the attrition of pensioners and removing the most sick from the equation.
Sinclair seems to agree with our statement that Blythe Masters may be responsible for the greatest loss of human life in history when the derivatives collapse is complete.
Regarding the timing of the collapse of the dollar, Sinclair states: Timing is a question of when our masters via Goldman Sachs decide to pull the plug on confidence in the US dollar.
Sinclair’s full alert below: [Read more...]
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