Bear, gone. Lehman, gone. Merrill, gone. And now Goldman Sachs and Morgan Stanley are to be transformed into deposit-taking, Fed-governed, ATM-fee-charging old-school bank holding companies. It’s not like they’re starting out at the bottom. The Wall Street Journal reports the agreement with the Fed puts Goldman at No. 4 in terms of outright size, behind […]
Posted on September 24th, 2008 by
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Warren Buffett’s $5 billion investment in Goldman Sachs has been hailed a signal of a bottom to the financial crisis. Whether the stock market agrees remains to be seen — and shares were off to a fitting start on Wednesday. …
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In a mutual exchange of affection that would make Barney the Dinosaur proud, rivals Goldman Sachs and Morgan Stanley each issued research notes today praising each other’s business models and stability, following a week that saw shares in both stalwart investment banks swoon and some of their rivals fail.
Goldman’s note, issued this morning, got the […]
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From ClusterStock, Sept. 23, 2008: Warren Buffett’s $5 billion investment in Goldman Sachs (GS) could change everything.Yes, Warren got a sweetheart deal – a preferred stock yielding 10% and a warrant to buy $5 billion of common stock at $115 (8% be
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The U.S. Securities and Exchange Commission has proposed about a dozen different restrictions on short sellers in the past few days, including an outright ban for financial stocks, but it hasn’t replaced the primary restriction on short sellers that was in place for most of the century.
The “uptick rule” or “tick test” required short sellers to sell […]
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What if Congress doesn’t approve the bailout?What seemed unthinkable just a few days ago now seems possible in the wake of Tuesday’s remarkable Senate Banking Committee hearing on the proposed $700 billion troubled assets relief program
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Wall Street’s cheering the Paulson Plan - a multi-billion-dollar taxpayer-funded effort to contain the credit market crisis. But a backdraft is underway in the blogosphere. Strategist-blogger Barry Ritholtz lays it out here in The Big Picture:
We now see that the grand experiment of deregulation has ended, and ended badly. The deregulation movement is […]
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From Silicon Alley Insider, Sept. 23, 2008:At long last, the GPhone is here. That’s good news for Google bulls,
who have been silently praying that one of three possible revenue
streams — mobile, video, and/or display — will soon ignite and save the
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