Posted on 03/10/2022 7:35:34 AM PST by marcusmaximus
Goldman Sachs Group Inc. said Thursday it was getting out of Russia--the first big U.S. bank to make a move to exit the country after the invasion of Ukraine.
The Wall Street bank said that it is winding down its businesses and that it is focused on helping its clients manage their own exposure or get out of the country.
Last month, the bank said it had only about $1 billion it total exposures to Russia as of the end of the year, with about $650 million in outstanding credits and $415 million in markets. That makes it a relatively small market for the bank, which has $1.46 trillion in assets.
-snip-
Citigroup Inc., which has a far bigger exposure of about $10 billion, said Wednesday it was assessing its future in Russia. Most of Citigroup’s clients are multinational companies with operations in Russia.
(Excerpt) Read more at wsj.com ...
Of course, the longer the Ukraine-Russia issue continues, the more likely we will have revolutions in various places. Food, it does a body good.
Goldman Sachs, McDonalds, Starbucks, and Facebook all exiting.
They’ll soon be the least exploited and healthiest people on earth.
LOL, I was thinking the same thing.
Getting rid of the corrosive impact of Western institutions may actually be good for the Russians in the long run.
The problem is Putin and his cronies are every bit as corrosive for the Russian people. Just trading one tyranny for another.
Goldman will always be where there is money to be made.
Now, if we could only do the same here.
Point taken, but how many Goldman Sachs execs hang out in Russia govt like in the DC Sewer?
Wow! When the evil empire moves out of your country, you know you’ve stepped in it big time.
It is so awful when a parasite leaves a host....
;-)
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