Tag Archives: goldman sachs group

Goldman Sachs Too Big To Fall Victim To Government Prosecution

Goldman Sachs was the only major Wall Street investment house that made money from the housing crash. How? Their advisors accurately predicted what was coming and they hedged appropriately, taking down AIG in the process. Their success is widely resented, … Continue reading

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Banks Stock Shares Stay Low

And for good reason. The Obama administration is trying to negotiate a $20 billion slush fund from the banks to fund potential Democrat voters in 2012. Banks are one of those rare businesses which can’t invest as they see fit. … Continue reading

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New York’s Attorney General Leading The Way In Bank Investigation

I am hardly surprised that a New York Democrat is leading the way in investigating banks and their role in the 2008 financial crisis. It must be irresistible to such politicians to place the blame on bankers rather than on … Continue reading

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The Collapse Of Credit Unions

Is Wall Street to blame for the collapse of five major credit unions? Several of the biggest banks are accused of misrepresenting the risk of mortgage-backed securities they sold. The WSJ reports: Federal regulators are blaming Wall Street’s biggest firms … Continue reading

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SEC Expands Mortgage Foreclosure Investigation

Reuters reports this morning that the SEC has sent out more subpoenas to banks. The SEC is particularly interested in learning about “master servicers.” All of the big banks ran into problems with shoddy paperwork and legal procedures in their … Continue reading

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FDIC Plan Likely To Fail

Mortgage bonds are going to need government support in these times of stress says Ben Bernanke, Federal Reserve chief. There’s also the option of covered bonds. Real estate values are plunging and foreclosures are way up. Irwin Nowick writes: First, … Continue reading

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No Rescue Plan?

From the New York Times: The Treasury secretary, Henry M. Paulson Jr., said Sunday there are no plans to use his new authority to inject capital into mortgage companies Fannie Mae and Freddie Mac, which both posted worse-than-expected earnings last … Continue reading

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