How Screwed Is This Bank? Goldman Sachs and Bank of America Edition
First, Goldman Sachs reported better-than-expected results that were still pretty meh .
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#1 Oct 17, 2012
“Reverse mortgage loan Texas”
Since: Sep 12
#2 Oct 17, 2012
What's happening, at Goldman and all over Wall Street, is that bank executives are realizing that they are essentially blindfolded when it comes to handicapping the fallout from big economic events. Markets aren't behaving in predictable, correlated ways, and as outgoing Goldman CFO David Viniar noted in yesterday's earnings call, "a speech by Politician X or Politician Y drives markets up or down as much as any economic situation." It's hard to take big risks in a world like that, so if you're Goldman, you're probably happier with your traders playing it safe and keeping VaR low, even if it means not winning big, either.
#3 Apr 18, 2013
Citi Corp is joining the global bail-in, where banks take from their depositors to replenish the money they have lost. The banks learned in Cyprus that an over the board confiscation of money was not feasible. They have modified their tactics and are now stealing through wire transfers of money out of depositor's accounts in the US of A. They took $2000 of the $7000 from my checking account today. My bank said they will not investigate the withdrawal until I have signed and returned a statement that they will be mailing to me.
The banks are stealing. Our Government is enabling the theft!
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