Here is another: buy everything that Goldman has to sell. Confused: see http://www.reuters.com/article/us-goldmansachs-abacus-factbox-idUSTRE63F5CZ20100416
Posted on 12/14/2015 11:21:29 AM PST by GilGil
•High yield returned -1.53% over the week, with spreads widening by 23bps, driven by underperformance in energy-related markets. Bank loans returned -0.27% and European high yield returned -0.58%. •High yield funds experienced $398mn in inflows over the week, while loan funds saw $387mn in outflows. •High yield primary market activity increased over the week, with eight deals pricing for $4.1bn. Bank loan new issue volumes fell, with nine deals pricing for $2.3bn.
(Excerpt) Read more at zerohedge.com ...
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Here is another: buy everything that Goldman has to sell. Confused: see http://www.reuters.com/article/us-goldmansachs-abacus-factbox-idUSTRE63F5CZ20100416
Mon, 12/14/2015 - 13:56 | 6922512 Bill of Rights
Bill of Rights’s picture
Too Jewish..
Not enough smear and innuendo?
Add a dash of antisemitism to the stew.
If this is all you got, GS is looking good.
Cruz has a huge Goldman Sachs problem by way of his wife. Check out the comments at the bottom on this article. People hate this company for the evil and destruction that they are.
Wow! You are ignorant. Burying your head in the sand like that is absurd. You have not even read the attached article or the comments. Goldman Sachs is a horrible company and destroys everything in it’s wake. The below is one deal of thousands where they line their pockets and destroy everything around it and it appears that they are Cruz’ wife’s puppet masters.
Nothing will ever happen to GS. For the last 40 years all the treasury secretaries have come form GS.
http://www.reuters.com/article/us-goldmansachs-abacus-factbox-idUSTRE63F5CZ20100416
The U.S. Securities and Exchange Commission is accusing Goldman Sachs Group Inc of committing fraud in a complicated transaction involving securities known as collateralized debt obligations.
The particular deal that Goldman entered into with Paulson and others was called ABACUS 2007-AC1.
Here’s how the deal worked, according to the SEC’s complaint:
1) Hedge fund manager John Paulson tells Goldman Sachs in late 2006 he wants to bet against risky subprime mortgages using derivatives. The risky mortgage bonds that Paulson wanted to short were essentially subprime home loans that had been repackaged into bonds. The bonds were rated “BBB,” meaning that as the home loans defaulted, these bonds would be among the first to feel the pain.
2) Goldman Sachs knows that German bank IKB would potentially buy the exposure that Paulson was looking to short. But IKB would only do so if the mortgage securities were selected by an outsider.
3) Goldman Sachs knows that not every asset manager would be willing to work with Paulson, according to the complaint. In January 2007, Goldman approaches ACA Management LLC, a unit of a bond insurer.
ACA agrees to be the manager in a deal, and to help select the securities for the deal with Paulson. In January and February 2007, Paulson and ACA work on the portfolio, coming to an agreement in late February.
Goldman never tells ACA or other investors that Paulson is shorting the securities, and ACA believes that Paulson in fact wanted to own some of the riskiest parts of the securities, according to the complaint.
4) Goldman puts together a deal known as a “synthetic collateralized debt obligation” designed to help IKB and Paulson get the exposure they want. IKB takes $150 million of the risk from subprime mortgage bonds in late April 2007. ABN Amro takes some $909 million of exposure as well, and buys protection on its exposure from ACA Management affiliate ACA Financial Guaranty Corp in May 2007.
Goldman’s marketing materials for the deal never mention Paulson’s having shorted more than $1 billion of securities. Goldman receives about $15 million in fees.
5) Months later, IKB loses almost all of its $150 million investment. In late 2007, ABN is acquired by a consortium of banks including Royal Bank of Scotland. In August 2008, RBS unwinds ABN’s position in ABACUS by paying Goldman $840.1 million. Most of that money goes to Paulson, who made about $1 billion total.
And you’re into insults, too. It figures.
I fully understand the connections.
Look. You have no even read the facts. You are not interested nor can you intelligently assess this information.
You also do not seem to be able to comprehend finance.
Cruz has a huge Goldman Sachs problem. Had you read the information which is very highly factual you would understand.
If GS controls Cuz’ wife as it appears it does, Cruz is a very,very flawed candidate.
GS sends chills up my spine. They are evil beyond comprehension.
It’s why I’ll never vote for Cruz, I don’t care who’s running against him.
Goldman Sachs has turned into a factory of evil. Wish people would understand that. It is there for all to see.
“Goldman Sachs has turned into a factory of evil. Wish people would understand that. It is there for all to see.”
George W Bush’s first two treasury secretaries were not bankers and tried to quietly reign in the Wall Street banking cartel. They were both fired by the President who installed Henry Paulson, Chairman of Goldman, in the Treasury Secretary position just in time for the 2008 meltdown. Timothy Geithner became head of the New York Federal Reserve and Ben Bernanke became Chairman of the Fed under Bush’s watch. When the 2008 financial crisis hit, Bush went into hiding and turned over the financial decision making to the Wall Street insiders - Paulson, Bernanke, and Geithner. They promptly bailed out the banks and not only US banks, they bailed out foreign banks, sticking the US taxpayer with the bill.
The other, and much less expensive option would have been to back the deposits up to the FDIC limits with the US Treasury and break up the banking cartel using the bankruptcy process. Average citizens would have been protected and while the bondholders, stockholders and executives of the “too big to fail” banks would have paid the price for their irresponsibility by losing their shirts. Instead, the banks were bailed out and a year later the Wall Street bankers who went to the Treasury on their knees were paying themselves millions in bonuses.
There are many reasons to dislike George W. Bush. Doubling the deficit was one. Letting the Wall Street banking cartel strip the US Treasury in 2008 was in effect a high crime and misdemeanor deserving impeachment and removal from office.
Yeah, I don’t quite get this argument. Cruz is worth between 2 and 5 million dollars. That is how much Goldman Sachs has benefited him. Is worth far less than many of the other Republican candidates.
If you were to tell me that his wife has amassed a fortune of several tens of millions of dollars from GS in the past and without the continued support of GS, they will be destitute, you might have a point.
That is not the case though. They are modestly wealthy but it is nothing compared to what a President could make on the speech circuit.
Can you give specific details of how Heidi being the regional head in one division of GS has compromised Ted and will cause him to abandon his principals and use his position to serve GS? How do the logistics of that work out?
You have ignored the whole point.
Goldman Sachs is a very very bad company to be associated with. They spread misery everywhere. You want to intentionally ignore that. So be it.
I cannot. GS is pure evil.
So those worth $5,000,000 are considered modestly wealthy? Boy, this political leadership has all but completely devalued the dollar to zip. No wonder all those folks working around the clock for 30k per year don’t seem very happy.
You are making my point. We could write a 1000 pages of the misery Goldman Sachs has heaped on people, millions of people.
It has taken over the finances of the US and of many other countries and has taken hundreds of billions on the backs of millions of retirees.
Absolutely no one seems to care. Simply amazing!
Agreed.
You have decided to be blind to the misery GS inflicts on people.
So be it.
I am not the same. GS is very,very bad news for Cruz.
Can you tell me what floor you're on in the GS building?
Are you an executive?.. or did they hire you simply to run press interference for them?
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