Goldman Sachs (NYSE:GS)is one investment banking firm which is not making noise even as UBS , Bank of America, Merrill Lynch, and favourite whipping child AIG is getting broiled. It seems that these companies have not estimated how much actual damages are, for eg UBS came down last with 18billion dollar write downs..... how many is too much, and then
citigroup CEO Vikram Pandit shooting down an email to employees that gloomy days of loss making quarters are over, but sir, have u taken a breath and realised that although operating profits are higher than normal,you are discounting the fact that your company has a huge disadvantageous federal bailout loan on your head it is as if to say " Profits are kept privately but losses spread socially " . With due respects to the CEO and CFO i think all the American banking companies or Financial companies should go back to the drawing board and figure out once and for all how much losses they have made bring it down to table and take hit just for one time.
citigroup CEO Vikram Pandit shooting down an email to employees that gloomy days of loss making quarters are over, but sir, have u taken a breath and realised that although operating profits are higher than normal,you are discounting the fact that your company has a huge disadvantageous federal bailout loan on your head it is as if to say " Profits are kept privately but losses spread socially " . With due respects to the CEO and CFO i think all the American banking companies or Financial companies should go back to the drawing board and figure out once and for all how much losses they have made bring it down to table and take hit just for one time.
This is excellent tactic usually company does, let the bad news be let out when the market is bad, so when Dow is going down what the hell people care if u have consistently written down billions of dollars. That raises to the point where is "Quality Unparalleled knowledged Employee " which was long boasted by American Financial Institutions, which went there instead of becoming Doctors and Engineers. Where are brightest of all minds gone ???? eternal question i cannot understand..... where are the financial whiz kids now what are they doing now to solve the problem
Hence I feel something is cooking in the Goldman Sachs I think they are the ones who are assesing their losses and investigating their asset quality, which makes them one of the first ones to rebound in my opinion amongst the first ones to out shine and come out of the Great Recession of 21st century.
Like many I felt sense of exuberence when i see market rally as today's but this was immediately shot down by my friend who predicts that this is just a false start and calls it nothing more than " Emotional outburst" he says the worst is yet to come with dow shedding few thousand points down to 5000 -6000 range before it bottom's out
Even though we agree and disagree that greed, bonuses,falsification, ponzi scheme, idiotic quant modelling ....lead to the cataclysmic fall of this market i think these three factors will continue to thrive even in the worst of economies, and that is how Capitalism will be shaped.
Hence I feel something is cooking in the Goldman Sachs I think they are the ones who are assesing their losses and investigating their asset quality, which makes them one of the first ones to rebound in my opinion amongst the first ones to out shine and come out of the Great Recession of 21st century.
Like many I felt sense of exuberence when i see market rally as today's but this was immediately shot down by my friend who predicts that this is just a false start and calls it nothing more than " Emotional outburst" he says the worst is yet to come with dow shedding few thousand points down to 5000 -6000 range before it bottom's out
Even though we agree and disagree that greed, bonuses,falsification, ponzi scheme, idiotic quant modelling ....lead to the cataclysmic fall of this market i think these three factors will continue to thrive even in the worst of economies, and that is how Capitalism will be shaped.
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