The Golden Ticket at Goldman Sachs

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How Does Goldman Sachs Make Its Profits?

Goldman-Sachs-Gewinn bricht um die Hälfte ein
Zentrale von Goldman Sachs in New York: Einbußen im Anleihegeschäft. Bild: Spiegel Online
SPIEGEL ONLINE: Der spektakuläre Facebook-Deal hat Goldman Sachs den Ruf des Trendsetters eingebracht. Doch jetzt sorgt die US-Investmentbank mit überraschend schlechten Zahlen für negative Schlagzeilen: Das Institut hat im vierten Quartal gut die Hälfte seines Gewinnes eingebüßt - die Aktie rutschte ab.

New York - Mit Spannung haben Börsianer auf die Zahlen von Goldman Sachs gewartet. Doch das Quartalsergebnis der mächtigen Investmentbank enttäuscht die Analysten. Einbußen im Anleihehandel haben der US-Großbank einen kräftigen Dämpfer versetzt. Das Institut büßte im vierten Quartal 2010 gut die Hälfte seines Gewinnes ein. Der Nettogewinn sei auf 2,23 Milliarden Dollar gefallen, teilte die Bank an diesem Mittwoch mit. Zum Vergleich: Im Vorjahresquartal waren es unterm Strich noch 4,79 Milliarden Dollar gewesen. >>> mmq/Reuters/dpa-AFX | Mittwoch, 19. Januar 2011

THE DAILY TELEGRAPH: Goldman Sachs fourth-quarter profits slide: Goldman Sachs will pay its employees almost 10bn pounds in pay and bonuses even as annual profits at the bank fell. >>> Richard Blackden, New York | Wednesday, January 19, 2011

Der Wahnsinn kehrt zurück
ZEIT ONLINE: Goldman Sachs bringt sich mit dem Einstieg bei Facebook in eine strategisch günstige Position. Aber ist die Internetplattform wirklich 50 Milliarden Dollar wert?

Der Chef der Internet-Plattform Facebook, Mark Zuckerberg, wirbt bei jeder Gelegenheit für mehr Offenheit: "Die Menschen teilen ihre Informationen immer schneller und offener. Das ist die neue soziale Norm." Nur wenn es um die Zahlen seiner Firma geht, gibt sich Zuckerberg verschlossen. Bis heute hat das Unternehmen keine belastbaren Zahlen über Umsatz, Gewinn oder Cash-Flow vorgelegt. Einen Börsengang, der für mehr Transparenz sorgen würde, lehnte Zuckerberg bisher kategorisch ab.

Die Intransparenz schadet ihm offenbar nicht: 500 Millionen Dollar zahlen die Investmentbank Goldman Sachs und der russische Investor Digital Sky Technologies für ein einziges Prozent an Facebook. Damit verdoppelt Zuckerberg sein rechnerisches Vermögen auf knapp 14 Milliarden Dollar. Das Portal, dessen Gründer und oberster Stratege gerade einmal 26 Jahre alt ist, ist auf dem Papier inzwischen 50 Milliarden Dollar wert - mehr als die Deutsche Bank. Weiter lesen und einen Kommentar schreiben >>> Von Rolf Benders | Klaus Stratmann | Ulf Sommer | Christoph Kapalschinski | Hans-Peter Siebenhaar | Dienstag, 04. Januar 2011

Goldman Denies Links with Global Food Crises
THE TELEGRAPH: Goldman Sachs has angrily defended itself against a public campaign that claims the bank is exacerbating global food crises through its commodity trading operations.

An advert from the World Development Movement's online campaign which claims banks are earning huge profits from betting on food prices in unregulated financial markets. Image: The Telegraph
The Wall Street bank has dismissed as "disingenuous and downright misleading" the conclusions by the World Development Movement that its activities have led to increased food prices, food riots, and poverty around the world.

The WDM, a London-based non-governmental organisation, on Monday started an on-line campaign to persuade the public to report Goldman to the Financial Services Authority (FSA) as the biggest bank allegedly distorting commodities markets.

The organisers said they want to put pressure on authorities to limit the ability of banks and hedge funds to trade in commodity futures.

The move came as Armajaro, a hedge fund run by Anthony Ward, was accused of cornering the cocoa market and pushing up prices after buying £650m, or 240,000 tonnes, of cocoa beans.

The campaign follows the publication of a report by the WDM called The Great Hunger Lottery: how banking speculation causes food crises, in which the lobby group accuses banks and hedge funds of "gambling on hunger." The report concludes that commodity trading is "dangerous, immoral and indefensible." >>> Louise Armitstead | Tuesday, July 20, 2010

Another £6bn for Goldman Bankers: They're Picking Up an Average of £350,000-plus
MAIL ONLINE: Goldman Sachs is today expected to earmark almost £6billion for its annual salary and bonus pool, handing staff a 15 per cent pay rise.

The windfall means Goldman bankers will take home an average of £356,000 this year.

Many senior deal-makers and star traders will pocket seven or even eight-figure packages, despite the bank's pivotal role in the financial crisis.

The payouts - to be confirmed in the group's financial results for the first half of the year - are likely to anger taxpayers here and in the U.S.

They come days after the Wall Street giant agreed to pay a £356million penalty to settle one of the most explosive fraud cases in U.S. banking history.

Goldman cut a face-saving deal with America's financial watchdog after it was charged with tricking clients into buying an investment that was designed to collapse.

Government-controlled Royal Bank of Scotland lost about £550million in this way, effectively leaving British taxpayers out of pocket.

Goldman is expected to set aside as much as 45 per cent of its first-half turnover for salary and bonuses.

Although markets have been shaken by the eurozone debt crisis, Goldman's turnover is forecast to hit £13.2billion, meaning £5.9billion will be channelled into the pay pool.

For the typical worker at Goldman, this equates to some £178,000 for just six months work. >>> Simon Duke | Tuesday, July 20, 2010

NY Pension Funds Goldman not delivering "gold" posted by Suzannah B. Troy

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  Goldman Sachs was revealed today in The New York Post for not delivering "gold" when it comes to handling the New York Pension Funds as reported in a scathing piece by one of the post's star reporters Susan Edelman.   I have to laugh because The New York Post tried to push the professional sex worker caught in the Elliot Spitzer scandal as their star columnist and it fell flat and as usual a true dynamo as far as I am concerned is this reporter, Edelman who brought us right inside the NY Public School Rubber Room where teachers were collecting obscene amounts of money and even larger pensions bleeding the tax payers dry for doing nothing.  Thanks to consistently strong reporting by Edelman and her fellow reporters, the Rubber Room is no more!
  
  
  
  I happen to catch our mayor Mike Bloomberg at a press conference that lucky for him I can't attend because I don't have a press pass saying something like this -- what will you report on now, now that the Rubber Room is closed?
  
  
  Well Susan Edelman found something of interest and that is all that glitters is not necessary "Goldman" as in Goldman Sachs.
  
  
  I can't sum up this well written piece so I am hyperlinking this article right here and to sum it up in one sentence more egg on the face of Goldman Sachs.
  
  
  Also please note for anyone following the Goldman Sachs media nightmare of their top dogs being grilled by senators one face you don't see is ex-top dog aka ex-CEO, Chair of GS Hank Paulson who like many GS alumni go on to top positions in politics.  Like Robert Rubin did for Clinton, Paulson became Secretary of Treasury for Bush.
  
  
  I hear many whispers or even a very powerful clearly spoken voice in a  YouTube by Debtruth1 who calls Hank Paulson to task and she and her YouTubes are brilliant.   She has an entire series on Goldman Sachs.  http://www.youtube.com/user/debtruth1#p/u  This YouTube link I posted to your left also busts Hank Paulson .
  
  
  The YouTube below Deb visits "Goldman past" and manages to give Paulson a very hard time!  Deb's YouTubes are brilliant.
  Goldman Sachs: Deception and Disclosure
  
  
  
  
  
  
  
  
  I am sure the powers that be at Goldman Sachs headquarters are deep in discussion about how to counter all the bad
  press and the newest "bomb" dropped by Susan Edelman about Goldman Sachs's less than shining success on behalf
  of the NY pension fund has caught their attention!
  
  
  Note: Jon Corzine, also an ex-CEO chair of Goldman Sachs, like our royal mayor king Mike Bloobmerg spent an
  enormous or should I say obscene amount of money to attempt to win back his seat as governor and the people
  of New Jersey sent a powerful message.
  Unlike Bloomberg who just squeaked by winning or stealing a third term, Jon Corzine lost.
  
  
  I
  
  

Goldman Sachs Top Dogs go from grill to the fire! post by Suzannah B. Troy

After being grilled by senators Goldman Sachs is now being investigated by the Feds according to The New York Post and I posted this comment in response to their article.

By the way, the grilling of Goldman Sachs top dogs did not hurt GS's stock but in fact it went up!

Goldman Sachs top dogs go from being grilled to be thrown in to the fire. I wrote a short story which is now a free podcast in ITunes called "Chopping the Street, one mega million at a time" about a woman that takes over an international biker motorcycle club and turns it into a global financial service firm on wheels. I wrote it in 2003 and I even quote The New York Post than on how much white collar crime costs the tax payers. It takes some brain power to understand what I am saying in this simple short story about white collar crime being above the radar and costs the people a fortune whether it is detected or not, whether it is successfully prosecuted or not. I could not get the story published. Why do you think that is?