TradingHelpDesk: Advice to GS - Stop citing "liquidity" as a reason to justify your financial speculation. It offers no sustainable or real economic benefits
Monday 07:31 am Most major banks still don't have enough capital to comfortably maintain their credit ratings, S&P says, releasing the first global comparison of risk-adjusted capital adequacy for the world's top banks. Mizuho (MFG), Citigroup (C), UBS (UBS) and BBVA all came in well below the global average RAC of 6.7%; Mizuho's was just 2%, Citigroup's was 2.1%, UBS's 2.2%, and BBVA's 5.4%. Banks with stronger than average balance sheets included HSBC (HBC) (9.2%) and Goldman Sachs (GS) (8.3%).
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Sunday 18:20 pm NY Times lashes out at Lloyd Blankfein's (GS) non-apology for "participating in things that were clearly wrong and we have reasons to regret." Times wants Goldman to give "a multibillion-dollar gift to the federal Bureau of the Public Debt... The donation can come from the bonuses; that way, it would not harm shareholders, because they only get their cut after the bonuses are paid."
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Sunday 07:00 am Goldman Sachs (GS) spokesman Lucas van Praag responds to the New York Times' questions about its exposure to AIG (AIG), pre bailout. While admitting that "a collapse of AIG would have had a very disruptive effect on the financial system, and that everyone benefited from the rescue of AIG," he maintains - despite evidence to the contrary - that Goldman's exposure "was close to zero."
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