Goldman Sachs
Will Barclays' CEO Surprise Us?
Submitted by Jason Chang on Mon, 07/02/2012 - 5:48pm
Author:
John Fullerton Like Lloyd Blankfein with the Abacus fiasco, and Jamie Dimon with “the whale trade,” Barclays CEO Bob Diamond has an unparalleled opportunity to surprise us this week during his appearance before Parliament to explain the most recent financial scandal involving the systematic manipulation of LIBOR, the benchmark interbank lending rate upon which hundreds of trillions of dollars of financial transactions are priced, over several years. Will Diamond seize the opportunity missed by both Blankfein and Dimon to emerge as the first true financial statesman of the modern global banking crisis?
Financial Statesmanship for a New Economy
Submitted by Dan Thompson on Mon, 03/19/2012 - 5:18pm- Blankfein Letters
- Blankfein Letters
- Financial Collapse
- Financial Collapse
- Financial Reform
- Financial Reform
- Financial Statesmanship
- Financial Statesmanship
- Financial Systems
- Financial Systems
- Goldman Abacus
- Goldman Abacus
- Goldman Sachs
- Goldman Sachs
- Greg Smith
- Greg Smith
- JPMorgan
- JPMorgan
- LLoyd Blankfein
- LLoyd Blankfein
- Why I am Leaving Goldman Sachs
- Why I am Leaving Goldman Sachs
Author:
John Fullerton Reactions to departing Goldman derivatives salesman Greg Smith’s “Why I am Leaving Goldman Sachs,” which appeared as an op-ed in the New York Times last week, have ranged from the hyperbolic — Robert Reich’s “If you took the greed out of Wall Street, all you’d have left is the pavement” — to the addicted — Mayor Michael Bloomberg’s “we need their taxes” (my paraphrase).
Both views are problematic, as I will address. But first, some historical context:
The Wisdom of Melville
Submitted by John Fullerton on Mon, 11/28/2011 - 8:10pm
Author:
John Fullerton "If your banker breaks, you snap." - Herman Melville, Moby Dick
During the summer between the day I resigned from JPMorgan after eighteen years, and the horror of witnessing 9-11 up close and personal, I joined a couple of friends on their fifty foot sailboat in an attempt to sail across the Atlantic Ocean. What better time to read Moby Dick, I thought.
One thousand miles into the journey, about a third of the way to England, we were struck by a humpback whale, destroying our rudder and leaving us floundering on the Atlantic.
Taming the Casino
Submitted by John Fullerton on Sun, 10/02/2011 - 4:45pm
Author:
John Fullerton Bloomberg View has joined its Wall Street customers in coming out against the Financial Transactions Tax proposed by Germany and France, and recommended by the European Union, declaring it politically unfeasible while undermining economic growth.
Presuming for a moment that the politically unfeasible can become reality when good ideas are pursued in a real democracy, it is important to clarify the sound purpose and likely impact of a Europe-wide or, ideally, universal Financial Transactions Tax.
Commodities are Different (in a "Full World")
Submitted by John Fullerton on Mon, 06/13/2011 - 10:30am
Author:
John Fullerton Foreign Policy’s recent “How Goldman Sachs Created the Food Crisis” reflects the dangerous, myopic thinking all too prone to “blame Wall Street” that is a natural consequence of Wall Street’s appalling, anti-social behavior in recent years.
Commodities are Different (in a "Full World")
Foreign Policy’s recent “How Goldman Sachs Created the Food Crisis” reflects the dangerous, myopic thinking all too prone to “blame Wall Street” that is a natural consequence of Wall Street’s appalling, anti-social behavior in recent years.
The $4 Billion Pen
Matt Taibbi’s “The People vs. Goldman Sachs” which appeared in Rolling Stone this week is a good and damning piece. In his latest attack on Goldman ("the Vampire Squid"), Taibbi likens the scathing 650 page bipartisan Levin-Coburn report on the Financial Crisis to Upton Sinclair’s Jungle and calls for the Justice Department to bring criminal charges against Goldman, knocking 6% - more than $4 billion - off the firm’s market value. Not a bad day’s work.
The $4 Billion Pen
Submitted by John Fullerton on Sun, 05/15/2011 - 11:07pm
Author:
John Fullerton
Matt Taibbi’s “The People vs. Goldman Sachs” which appeared in Rolling Stone this week is a good and damning piece. In his latest attack on Goldman ("the Vampire Squid"), Taibbi likens the scathing 650 page bipartisan Levin-Coburn report on the Financial Crisis to Upton Sinclair’s Jungle and calls for the Justice Department to bring criminal charges against Goldman, knocking 6% - more than $4 billion - off the firm’s market value. Not a bad day’s work.
Goldman and Facebook: Who's Using Who?
I sure got that one wrong.
At the end of my 2009 year end letter to Lloyd Blankfein, Chairman and CEO of Goldman Sachs, the third in an exchange that took place during the depths of the financial crisis, I predicted that Goldman clients would begin to defect, either of their own volition, or because their own clients would force them to. I predicted “civil war (inside Goldman) could break out after Goldman loses the Facebook IPO for one reason alone: the Goldman Sachs brand.”
Oops.
Goldman and Facebook: Who's Using Who?
Submitted by John Fullerton on Sun, 01/16/2011 - 9:38pm
Author:
John Fullerton I sure got that one wrong.
At the end of my 2009 year end letter to Lloyd Blankfein, Chairman and CEO of Goldman Sachs, the third in an exchange that took place during the depths of the financial crisis, I predicted that Goldman clients would begin to defect, either of their own volition, or because their own clients would force them to. I predicted “civil war (inside Goldman) could break out after Goldman loses the Facebook IPO for one reason alone: the Goldman Sachs brand.”
Oops.
