Coos Bay Tom Loc: coos bay oregon

Bruce123

Here is some useful information about Goldman Sachs.
Goldman Sachs agreed to pay $550 million in July 2010 to settle charges by the Securities and Exchange Commission (SEC) related to the bank's marketing of a subprime mortgage product. While $550 million was a record fine at the time for a financial institution in an SEC case, the impact of the settlement on Goldman Sachs' overall financial health was relatively modest considering the size and earnings power of the firm.

To provide some context:

1. Goldman Sachs is one of the largest investment banks in the world, with multiple streams of income across various sectors including investment banking, asset management, and trading.

2. During the period leading up to the settlement, Goldman Sachs was generating multi-billion dollar profits annually. For example, in 2009, the year before the settlement, the firm reported a profit of over $13 billion.

3. The $550 million penalty, while significant, represented only a fraction of the firm's annual earnings and did not dramatically impact its balance sheet or its ability to operate.

4. The cost was most likely anticipated and provisioned for; large financial firms typically set aside legal reserves for potential settlements and litigations.

5. The stock market reaction to the news of the settlement was generally positive, as investors had feared that the penalty could have been higher. Consequently, Goldman Sachs' share price rose on the day the settlement was announced, reflecting relief that the uncertainty surrounding the litigation was over.

6. The fine had non-financial implications as well, including reputational damage and increased regulatory scrutiny, which can influence long-term business prospects.

In summary, while a $550 million penalty is a substantial amount of money, for a firm of Goldman Sachs' size and profitability, it did not constitute a financial crisis and was absorbable within the framework of their regular business operations. The firm continued to be profitable and maintain its position as one of the leading investment banks in the years following the settlement.

In other words hardly any tangible impact at all.
If you and I had did what they did we would be in jail.
They are not to be trusted.

Liberty Tree

What do you expect them to say?

Coos Bay Tom Loc: coos bay oregon

Well gee I dunno . I guess I'll find another forcast and post that .

Bruce123

They are just like a tire store. When you walk in the door they are going to sell you some tires. When you walk into Goldman Sachs branch a song and dance will start about not missing out on the boom in the markets.

Coos Bay Tom Loc: coos bay oregon

Here's another link from Black Rock https://www.blackrock.com/us/financial-professionals/insights/election-year

JFlorio Loc: Seminole Florida

Just know Tom these guys always try to sound optimistic. Why? Getting investments is their job. It’s so rigged. The other morning I noticed right off the 10 year treasury moved up. Shouldn’t have if you believed the FED was going to lower rates. My point. I knew the markets would tank for a couple days. I’m not Jamie Diamond or anybody. Proves how manipulated the market is.

Bruce123

What’s the old movie quote ?
The only way to win is not to play.

Milosia2 Loc: Cleveland Ohio

What they always say,
“ looks like another recession coming !”
Always on the verge of a disastrous recession.
It’s always the people with all the money who warn us of these things .
and I’m sure if they could they would squeeze one into the economy just to make Biden’s great economy look bad.
It’s difficult to throw a recession into a great economy .
It would be too obvious.

DAV

The Goldman Sucks !

jack sequim wa Loc: Blanchard, Idaho

Your to economic ignorant to include yourself in these post.
The world's economy's are on fire, yet you continue spewing ignorance.

F.D.R.

He was apparently looking in the mirror 'cause it ain't looking that great for the rest of us.