Word: goldman
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Dates: during 2000-2009
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...took on the role of recapitalizing regional banks. Yet there's still no end to the crisis in sight. On July 11, U.S. regulators shut down IndyMac Bank, the second-largest largest financial institution to close in U.S. history. If current estimates are right and more losses are coming - Goldman Sachs says U.S. and European banks may need another $200 billion - where's the money going to come from to keep the financial system functioning...
...trading. European banks themselves say that most of the bad news is already out, and some - including Barclays, Crédit Agricole and the big Swiss banks - have raised billions of dollars in fresh capital to strengthen their balance sheets. That may not be enough: a recent report by Goldman Sachs estimated that European banks will have to raise a further $95-$140 billion in fresh capital. And in the event of another Northern Rock-style meltdown, all bets about the banks' stability - and Europe's economic resilience - will...
...line with demand is a step in the right direction, but hardly a cure-all. Morgan Stanley's Glass points to "deteriorating underlying trends," such as the slowing economy and stepped-up coffee competition from the likes of Dunkin Donuts and McDonald's. Steven Kron, an analyst at Goldman Sachs, pointed out in a research note that while short-term investors may be enthusiastic about store closings, long-term investors still need to know more about how broader business trends play out. He has made no change to 12-month price target. Starbucks still has a lot more work...
Robert S. Kaplan, a former vice chairman at Goldman Sachs and a professor at Harvard Business School, served as interim CEO after El-Erian stepped down late last year...
Forst comes to Harvard without previous experience in academic management, but boasts a strong résumé in the financial world, having served as Goldman's executive vice president, chief administrative officer, and global head of its investment management division...