Word: goldman
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...government will have more responsibility for the financial system,” he said. Clayton S. Rose, a senior lecturer of business administration at the Business School and the former head of the Global Investment Banking and the Global Equities Divisions at J.P. Morgan, called the regulatory changes at Goldman Sachs and Morgan Stanley “significant.” “The reclassification of Goldman Sachs and Morgan Stanley was not a voluntary exercise,” he said. The Fed and the Treasury forced the changes on both firms as a consequence of providing them with...
...bunch of Wall Street firms, especially when each party is worried the other is going to bluff and ultimately try to use the deal as a populist rallying cry. This is compounded by the fact that Paulson just happened to lead one of the biggest market players, Goldman Sachs, before coming to Treasury. In that role, he acknowledges, he placed a lot of the bad debt that the now defunct Fannie Mae and Freddie Mac were peddling. "Yeah, I and everyone else placed Fannie and Freddie debt," he says, but "We didn't create this system and this...
...fund, which had already bought 9.9% of Morgan Stanley last December. MUFG joined the fray over the weekend, sources say, and within days committed to buy a strategic stake, which includes a seat on the Morgan Stanley board. With the U.S. Federal Reserve now compelling both Morgan Stanley and Goldman Sachs to operate as commercial rather than investment banks, CEO John Mack sees obvious benefits from a tie-up with the Tokyo giant. "Mitsubishi UFJ would be a valuable partner as we transition to a bank holding company and build our bank services and deposit base," Mack said...
...masterminding Tuesday's $5 billion investment in Goldman Sachs, Warren Buffett showed he still has the touch that has won him plaudits as the world's greatest investor. But a new biography, which will hit bookstores Sept. 29, reveals that in his personal life, the Oracle of Omaha can be something of a wreck...
...weight of history has become too heavy. As the events of the last week unfolded, ad hoc solutions from Bernanke’s Fed and the Treasury, led by the vigorous former Goldman Sachs CEO Henry M. “Hank” Paulson, proved unable to bring lasting calm to the market: Neither lower interest rates, nor greatly expanded liquidity helped thaw frozen credit markets. Even after brokered shotgun weddings like those of Merrill Lynch and Bank of America or Bear Stearns and JP Morgan Chase, what Professor Kenneth Rogoff once called the “flagship?...