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Financial stocks (XLF -0.3%) are muddled on the day, but Goldman Sachs (GS +1.3%) moves up on a...

Financial stocks (XLF -0.3%) are muddled on the day, but Goldman Sachs (GS +1.3%) moves up on a report that it is near a deal to sell its Litton mortgage servicing unit to Ocwen Financial (OCN +5.7%). Separately, the SEC has posted various documents revealing that Goldman has estimated ~$2.7B in potential losses from litigation.
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Comments (3)
  • Wyatt Junker
    , contributor
    Comments (4503) | Send Message
    $2.7 billion in shark food? And that's just one bank.


    Is it fair to say at this point that the litigation itself is now a main ingredient in causing the unemployment to peg up high here?


    The state AGs are such cool kids, aren't they?


    Yeah, those ex-homeowners. They were so victimized. LOL.


    If we had a real leader in DC, he would crapcan the BAR from getting their little moist hands all over the housing market and bar them from further destruction of the capital markets.


    I'd break up the American Trail Lawyers Assoc. under RICOH law.


    I mean, we all know what wonderful civic leaders our neighborhood lawyers are, right?


    And as John Edwards as their example(yes, he almost became Veep) its no wonder they are such parasitcal wannabes.
    3 Jun 2011, 02:16 PM Reply Like
  • ebworthen
    , contributor
    Comments (2811) | Send Message
    I wonder what the name of the new GS will be?


    They'll let this iteration die a slow death and bleed out the shareholders and governments.


    I guarantee you assets are being moved to a new shell investment bank investment house so the tainted effigy of GS can be burned to appease the blind masses.


    "Anuson & Pylori" maybe? Something in our face no doubt as they have no shame and no fear.


    Worthless scumbags.
    3 Jun 2011, 02:26 PM Reply Like
  • RLBerger
    , contributor
    Comments (40) | Send Message
    Goldman Sachs is selling the Litton mortgage servicing unit to Ocwen Financial before Moody's adds them to the list of downgrades ahead of Bank of America (, Citigroup (, and Wells Fargo ( under review for possible downgrade. The agency says the Dodd-Frank bill makes major government support less likely even as the lenders' mortgage exposure remains high.


    You should already be out of the market as the Double-Dip begins as QE is over and the Market will head lower as all the QE did was allow the "Smart Money" to artificially inflate equities giving a Golden Parachute Exit from this Market. I will state that had it not been for QE we would have lost several LARGE AMERICAN COMPANIES in a Great Depression II as well as completely wipe out "The Boomers" Retirements that are fixed into this market. There is in fact a MAJOR CORRECTION in the Market underway......... Probably a lot longer than you have thought while stocks were hitting all-time highs and the smart money was cashing out.


    It baffles me that some do not understand the cyclical nature of the markets and have been sold on the buy and Hold position that has done nothing to maximize clients profits.


    You will hear the same old same old, " I should have sold while the market was high and bought back in on the rebound." The problem is that these same people have said this many times before and have never acted on it. I blame this on Greedy Money Managers that have a Fiduciary Duty to push the Client in the direction of maximizing profits rather than maximizing the Firms profits.


    CA$H is King and need it even be said that going short on The S&P and in particular The XLF is the best play on the Street. When an Analyst is married to the firm I guess it is like a Chicken voting for Colonel Sanders....LOL! Some things never change.


    6 Jun 2011, 05:30 AM Reply Like
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