investment banks: A Glimpse Into The Soul of Goldman Sachs - 04/27/10 01:54 PM

Today we had a glimpse into the soul of Goldman Sachs.
We witnessed an incredible denial of responsibility or accountability by remarkably intelligent executives of the firm.

Senator Carl Levin asked why Goldman Sachs sold a set of investments it had itself labeled “shitty.”
I don't believe he received an answer.
What appeared from the hearing was how disconnected Llyod Blankfein is (and was) from the day-to-day operations of the industry and the actual activities conducted by his firm.
Is he really that uninvolved as the CEO and Chairman or is this going to be his line of defense … (7 comments)

investment banks: Life Insurance Securitization - A Brilliant idea or another racket? - 09/06/09 06:21 PM
Life Insurance Securitization - A brilliant idea or another racket?"
Wall's streets securitization of mortgages proved to be a disastrous investment for investors. I believe that the bundling of mortgages and their securutization was a deliberate strategy to cause confusion to those being advised by "Wall Street Experts" to invest in them. Ultimately investors had no idea of what was really behind the bonds they invested in.
The mortgage business imploded, Wall Street turned to the Fed for massive bailouts, and American Taxpayers were assured that regulators would stop such unscrupulous practices by Investment Bankers in the future. That was only … (4 comments)

 
COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate (COMPASS)

COMPASS PALM SPRINGS | Stewart Penn

COMPASS Palm Springs - Broker Associate

Palm Springs, CA

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