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Posts Tagged ‘Gary Cohn’

Goldman’s Greg Smith Skewers Firm, Airs Dirty Laundry

Posted by Larry Doyle on March 14th, 2012 8:25 AM |

Thanks to a regular reader for sharing a New York Times editorial which will captivate Wall Street today.

Our friends at FINRA who may be faced with real backlash from the news spreading of their losing 8 hours of testimony in an arbitration case might want to buy lunch and dinner for Goldman Sachs’ senior executive Greg Smith.

Perhaps I should say former senior executive Greg Smith as he admits that today will be his last day at the firm. What else does Mr. Smith have to say? A LOT and if you see smoke rising off the top of 200 West Street today it is likely the steam rising from the heads of Lloyd Blankfein, Gary Cohn, and the other chiefs at Wall Street’s dominant firm.  (more…)

Goldman Sachs and Uncle Sam’s “Games People Play”

Posted by Larry Doyle on August 17th, 2010 7:42 AM |

Why does it seem that whenever something really dicey happens on Wall Street, the crowd at Goldman Sachs is typically in the middle of it? How so? Let’s enter the world of new issue equity underwriting.

There is very little that is truly sacred on Wall Street. That said, one of the traditional “sacred untouchables” on the street of dreams has been the new issue equity underwriting spread. Maintaining this spread between a cushy 2% to 3% level is typically sacrosanct and actually more easily maintained now given the oligopoly that currently defines Wall Street. I have written extensively on how this game of oligopoly has been played on Wall Street circa 2010. (more…)

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