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:
How Banks Make Money in Derivatives
Submitted by John Fullerton on Sun, 12/19/2010 - 10:58pm
Author:
John Fullerton The mystery of derivatives, the secretive multi-trillion dollar market that few understand but is believed to be at the heart of the financial meltdown needs illumination. Without it, policy makers have no chance of getting much needed regulation right. The recent NY Times piece, “A Secretive Banking Elite Rules Trading in Derivatives” was unhelpful in this regard. What follows is intended to be a laymen's and policy maker's guide to derivatives practices and profits.
