Word: goldmans
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Dates: during 2000-2009
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That could happen. But another possibility is that loan losses will continue to grow to the point that the core institutions of the American financial scene - Citigroup, JPMorgan Chase and Bank of America in particular, but also possibly Goldman Sachs and Morgan Stanley - are seen as endangered. Then we'll really get to see what a bailout looks like...
...governor of New York, the state that regulates it, to tap $20 billion in capital from its subsidiaries. Then it paid a visit to the Federal Reserve Bank of New York, where President Tim Geithner turned down its loan request but, according to the Wall Street Journal, asked Goldman Sachs and Lehman Bros. to organize a $70-billion to $75-billion rescue loan. There's no word yet on whether they'll actually do it, which means AIG's woes are likely to ripple through the market for some time...
...attempt to stimulate the economy and stabilize markets, the People's Bank of China on Monday lowered its key interest rate by 27 basis points to 7.2% - the first cut since 2002. The central bank also reduced reserve requirements for some Chinese banks, a step that could increase lending. Goldman Sachs economist Hong Liang commented that the moves "clearly signaled the central bank's intention to support growth" and "could provide some badly needed boost to investors' confidence." After a dark day on Wall Street, any bit of extra confidence could help...
...quarter of the management company’s staff amid heated criticism over multimillion dollar compensation packages for him and his top managers. Meyer and several of his former lieutenants now run the Boston-based hedge fund Convexity Capital Management. 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. —Staff writer Clifford M. Marks can be reached at cmarks@fas.harvard.edu. —Staff writer Nathan C. Strauss can be reached at strauss@fas.harvard.edu...
...Pepper also has old distribution deals with Coke and Pepsi bottlers, which Goldman Sachs analyst Judy Hong describes as a "potential Achilles' heel." According to Hong, "there is an inherent conflict of interest because Pepper's distribution platforms are also its largest competitors'," and as an example, she cites Pepsi's Sierra Mist displacing 7Up as the No. 2 lemon-lime brand, behind Sprite, in part because Pepsi Bottling stopped distributing...