Goldman Sachs, the bank that manages ... the world!

Current Economy and Sustainable Development-compatible? GDP growth (at all costs), economic development, inflation ... How concillier the current economy with the environment and sustainable development.
netshaman
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by netshaman » 04/10/13, 21:44

Ahmed said:

Intelligence would be very difficult to assess anyway


Never mind my friend: only those who do stupid things are stupid! => Forrest Gump
It is our actions that define us, basically we are what we do!
Intelligence is measured by the number of intelligent acts committed.
This is what ultimately counts, the rest is wind!
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by Ahmed » 05/10/13, 10:27

Certainly, Netshaman, but conversely, is it enough to be intelligent to never do stupid things? 8)

Intelligence being defined by the ability to establish relationships between elements, this does not prejudge the final result in terms of value judgment ...

From which I deduce that it is the intelligent people who are (potentially) the most dangerous, since only likely to develop operational stupidity of great magnitude ...
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by Christophe » 05/10/13, 10:33

Do not confuse intelligence and morality ...

At GoldmanSachs they are very clever to fool the world in this way but do not have an ounce of morality!
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by Ahmed » 05/10/13, 10:47

I obviously do not confuse anything, but it is a question of level of appreciation: from the restricted point of view of the GS company, a scam can be considered as particularly subtle, whereas considered globally in view of its collateral damage it is a sad stupidity (since we are in a constant sum game).
This is explained by the famous formula of Lace"Always act so that the maxim of your action can be set up as a universal rule".
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by Christophe » 05/10/13, 10:53

I didn't contradict you, I said the same thing as you with simpler words ...
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by BobFuck » 05/10/13, 12:18

Ahmed wrote:This is explained by the famous formula of Lace"Always act so that the maxim of your action can be set up as a universal rule".


But yes, for the big guys like Goldman, it is a universal rule to fuck everyone (with the complicity of the authorities), all this is therefore perfectly logical ...

- Damn, we're loaded up with rotten bonds, that sucks!
- No problem, put it all at the chopper and make it CDO-merguez, we will spoil it all to our customers by stuffing the slack, they are the ones who will take the losses, and we the bonuses!
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by Christophe » 05/10/13, 12:19

Nice proof of topicality of non-intelligence of some traders ...

http://bigbrowser.blog.lemonde.fr/2013/ ... t-twitter/

: Cheesy: : Cheesy:

... and the stock market system more generally at the same time ...
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by moinsdewatt » 23/08/14, 14:40

Goldman Sachs must resume his shit. : Cheesy:

Subprimes: Goldman Sachs buys $ 3,15 billion in risky products

Le Monde.fr with AFP | 23.08.2014/XNUMX/XNUMX

he American investment bank Goldman Sachs announced Friday, August 22, that it would buy for 3,15 billion dollars (2,38 billion euros) of financial products backed by subprime mortgage loans in order to to settle prosecutions.
These financial products had been sold between 2005 and 2007 to mortgage refinancing companies Freddie Mac and Fannie Mae, which had subsequently been swept away by the financial crisis and placed under the supervision of the State. The transaction is part of an amicable agreement with the FHFA, the regulator who oversees Fannie and Freddie. The latter said in a statement that Fannie and Freddie, who will recover respectively $ 1 billion (755 million euros) and $ 2,15 billion (1,62 billion euros), will thus fully return to their fresh.

In addition to Goldman Sachs, the FHFA had launched proceedings against a series of banking establishments which had sold toxic real estate financial products to the two mortgage refinancing companies, based on credits granted to insolvent borrowers (the famous "subprimes"). Banks were accused of lying at the time about the risks posed by these financial products and have since settled most of the disputes out of court.

MULTITUDE OF COMPLAINTS

Goldman Sachs specifies that the agreement of Friday settles "all the complaints deposited by the FHFA at the federal level as at the level of the States" concerning financial products related to the mortgages sold to Fannie and Freddie. The bank ensures that most of the cost of the agreement is covered by the reserves it has set up to cover its legal disputes.

The agreement announced Friday with Goldman Sachs is thus the 16th concluded by the FHFA, which has only three pending proceedings: against the British banks HSBC and Royal Bank of Scotland, and against an American subsidiary of the Japanese group Nomura.

Subprime loans and the practices of American banks in the years preceding the crisis continue to cost them dearly, due to the multitude of complaints and procedures of various origins against them. An amicable settlement of a historic amount of nearly 17 billion dollars (12,8 billion euros) was announced on Thursday between Bank of America and the justice department, 6 American states and several regulators.

Goldman Sachs had itself settled the stock market policeman (SEC) in exchange for a payment of 550 million dollars (415 million euros) in 2010, but one of its brokers, the French Fabrice Tourre, had been tried guilty of stock market fraud after a trial in New York last year.

http://www.lemonde.fr/economie/article/ ... _3234.html
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by Obamot » 23/08/14, 17:24

Good pick -2W!

They sure don't give a damn (even if not that much ...) the US government having "flushed" the world's banks since - and managed to ensure the primacy of American law over that of the "attacked" states, what a blow master - and this under the pretext of "fight against tax evasion", for much larger sums ...!

Aim for hypocrisy, while the State of Delaware >>> is a champion in all categories of banking secrecy (it must not be in the USA, after all?) The shady actions of "Black Waters" the CI @ and others must be concealed under the immaculate legalistic carpet of Congress!

Fortunately they serve as an example for the world, where would we go without them!?! Why so much hatred towards them, don't understand ... It wasn't us "rogue states "?

And to think that Madoff is paying for his place as a lamp designer ... 8)
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by moinsdewatt » 15/01/16, 19:03

Well done !

Goldman Sachs will pay an additional $ 5,1 billion to settle the subprime legacy

15/01/2016 Boursier.com

Goldman Sachs to shell out $ 5,1 billion additional to extinguish lawsuits related to the bank's activity in mortgage loans, at the origin of the 2008 financial crisis. The authorities criticized the firm for its pronounced taste for the creation of financial products backed by mortgage loans, then sold to investors, between 2005 and 2007. When the real estate crisis erupted across the Atlantic, the value of these products melted, causing a wave of panic and the consequences that we know: it was the so-called "subprime" crisis. , precisely named after the risky real estate loans which allowed the creation of high yield financial products.

The American merchant bank agreed to pay $ 2,385 billion in fines, plus $ 875 million in cash in favor of the plaintiffs and an additional $ 1,8 billion spent on services for the benefit of borrowers in the area of ​​renegotiation of loans, real estate rehabilitation or even debt forgiveness for the benefit of debtors most in difficulty. The agreement in principle signed with the United States Department of Justice, Attorneys General for New York and Illinois, the NCUA and the FHLBs of Chicago and Seattle, extinguishes current and future complaints from these institutions. Goldman Sachs' 4th quarter 2015 accounts will be subject to an exceptional charge of $ 1,5 billion after tax.

The amount of fines and compensations imposed on the three largest American banks, Goldman Sachs, JP Morgan and Bank of America, now exceeds $ 37 billion for the subprime crisis. By integrating all financial companies, it is more than $ 180 billion, according to the American press.


http://www.boursier.com/actions/actuali ... html?fil74
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