Gretchen Morgenson jumps on the “Goldman as the root of all evil” train today in the New York Times. Her take on the theme is that Henry Paulson had inappropriate contact with Lloyd Blankfein, Goldman’s CEO, during the credit crisis. Ms. Morgenson uses phone records that The Times obtained which show that Paulson talked more […]
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What’s Wrong With Goldman Repaying Their TARP Money?
Posted by Tom Lindmark on April 13th, 2009
Pigs are flying today. People are upset about someone paying back a government loan. Goldman’s plan to raise private equity and repay their TARP borrowings has a bunch of undies in a bunch. Felix Salmon at Reuters and John Carney at Clusterstock both seem aggrieved at the turn of events. Their argument seems to center […]
Goldman May Raise Money To Pay Back TARP
Posted by Tom Lindmark on April 9th, 2009
The WSJ is reporting that Goldman is close to a decision to pursue a multibillion-dollar stock offering. The purpose, of course, is to pay back the TARP funds. Goldman is supposed to release an earnings report early next week. It is expected to be solid. The firm has chafed under the publicity and constraints of […]
Why Treasury Doesn’t Want Goldman’s Money
Posted by Tom Lindmark on March 24th, 2009
In a perfect world one or more of the recipients of TARP money paying it back would be considered a good thing. We don’t live in a perfect world. In the New York Times, Andrew Ross Sorkin, notes that Goldman may well pay back the $10 billion it received but the Treasury might not want […]
Goldman Divulges A Bit More About Its AIG Exposure
Posted by Tom Lindmark on March 20th, 2009
Goldman continues to maintain that it has fully hedged its risk with AIG. The company also disclosed that it declined to settle any outstanding trades with the insurer at a discount. David Viniar, Goldman’s CFO, said that the firm felt no compunction to act any differently than what was called for under the terms of […]
A Ray Of Sunshine From Goldman
Posted by Tom Lindmark on March 3rd, 2009
Today is a Norman Vincent Peale day. Nothing but positive thinking. In that vein let me show you a graph from an updated Goldman economic forecast. Yes it shows a horrible first quarter and a not so good second quarter but they see things turning around ever so slowly thereafter. What’s going to lead us […]
