Klamotten-Affäre an der Wallstreet

13.05.2010 21:21
Rajaratnam-Exclude GOLDMAN, other stocks from case

By Grant McCOOL:

"NEW YORK, May 13 (Reuters) - GALLEON hedge fund founder Raj RAJARATNAM wants evidence concerning Goldman Sachs Group Inc stock and a score of other stocks thrown out of a U.S. government criminal case alleging insider trading, according to court papers on Thursday.

Rajaratnam was ARRESTED last October and charged along with 20 others in what prosecutors described as the biggest probe of INSIDER trading in HEDGE funds, and the first significant Wall Street case to use secret telephone recordings.

In a filing on Thursday, Rajaratnam's lawyers said that of 21 stocks identified by the government in a March letter, 10 'were never mentioned in any of the government's applications for authorization to wiretap Rajaratnam's telephone.'

The request to throw out this alleged evidence follows a similar request on April 16 and a motion last Friday asking U.S. District Judge Richard HOLWELL to suppress thousands of recordings from the case"...

SOURCE / QUELLE dieses Ausschnitts:
www.finanznachrichten.de/...man-other-stocks-from-case-020.htm

Das Unternehmen Goldman Sachs verabschiedet sich vom "Wir-tun-nur-Gottes-Werk"-Gehabe und erkennt jetzt einen DISCONNECT zwischen seiner Eigen- und der Fremd-Wahrnehmung ausdrücklich an. - Das dürfte ein wenig den DRUCK von dieser Company nehmen (in wieweit das auch der ACTIE hilft, bleibt noch gesondert zu untersuchen):

Former SEC chairman on Goldman's standards group
Goldman Sachs names former SEC chairman to standards committee

"On Friday May 14, 2010, 6:32 pm EDT
NEW YORK (AP) -- The Goldman Sachs Group Inc. said Friday that its new business STANDARDS committee will include former Securities and Exchange Commission Chairman Arthur LEVITT.

The committee, announced a week ago at Goldman's annual shareholders meeting, will REVIEW the company's business STANDARDS and make recommendations to the board and senior management.

"We RECOGNIZE that there is a DISCONNECT between how we view the firm and how the broader public perceives our roles and activities," CEO Lloyd C. BLANKFEIN said in a statement.

The Securities and Exchange Commission charged Goldman Sachs with fraud over its packaging of mortgage securities. Goldman is facing a separate criminal investigation into the same securities. Goldman has DENED the charges.

GOLDMAN also is among eight banks New York Attorney General Andrew CUOMO is investigating to determine whether they misled ratings agencies about mortgage securities.

Leading the standards are E. Gerald CORRIGAN, chairman of Goldman Sachs Bank USA, and J. Michael EVANS, vice chairman of Goldman Sachs and chairman of Goldman Sachs Asia"...

SOURCE / QUELLE dieses Ausschnitts:
finance.yahoo.com/news/...-chairman-on-apf-1826713433.html?x=0

Im nächsten Beitrag werde ich voraussichtlich von einigen Begegnungen mit GOLDMAN-Sachs-Bankern berichten; sowohl, was daran das ERFREULICHE wesen, wie auch, was daran als BEDRÜCKEND empfunden - und immer noch bedrückend IST...

Bis dann also: Teras.

Stocks to Watch
May 15, 2010, 12:42 p.m. EDT:  
Lowe's, Agilent, Goldman Sachs
By MarketWatch

"SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Monday's session are Lowe's Cos., Agilent Technologies Inc., and Goldman Sachs Group Inc.

Lowe's (LOW 26.07, -0.18, -0.69%) is projected to post first-quarter earnings of 31 cents a share, according to a consensus survey by FactSet Research.

Agilent Technologies Inc. (A 33.86, -0.92, -2.65%) is estimated to report fiscal second-quarter earnings of 42 cents a share according to FactSet Research.

After Friday's closing bell, Goldman Sachs Group Inc. (GS 143.23, -1.42, -0.98%) unveiled details of a new Business Standards Committee the firm has set up to bolster the investment bank's client focus and increase the transparency of its activities. "We recognize that there is a disconnect between how we view the firm and how the broader public perceives our roles and activities," Goldman Chief Executive Lloyd Blankfein said in a statement"...

SOURCE / QUELLE des Ausschnitts:
www.marketwatch.com/story/...agilent-goldman-2010-05-15-124200

GREECE Considering Legal Action Against U.S. BANKS for Crisis
By Timothy R. HOMAN:

"May 16 [2010] (Bloomberg) -- Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said.

“I wouldn’t rule out that this may be a recourse,” Papandreou said, in response to questions about the role of U.S. banks in the crisis, in an interview on CNN’s “Fareed Zakaria GPS.” The program, scheduled for broadcast today, was taped on May 13. Neither Papandreou nor Zakaria mentioned any banks by name.

U.S. stocks fell and the euro slumped on concern that Europe wouldn’t be able to contain the debt crisis stemming from Greece. The Standard & Poor’s 500 Index declined 1.9 percent May 14, while the euro fell below $1.24 for the first time since November 2008.

Papandreou said the decision on whether to go after U.S. banks will be made after a Greek parliamentary investigation into the cause of the crisis"...

SOURCE / QUELLE dieses Ausschnitts:
www.bloomberg.com/apps/...01087&sid=aoa4U3NHx7YU&pos=5

Achtung: Vorsicht, denn dieser Bericht erschien auf CNBC; die Nachricht scheint aber halbwegs objectiv, da sie auch auf REUTERS erschienen sein soll:

Goldman Winds Down One Proprietary Trading Desk: Source
Published: Friday, 14 May 2010 | 4:48 PM ET
By: Reuters

"Goldman Sachs, which has faced questions over its proprietary trading operations, is winding down one [=1] such desk, a source familiar with the matter said.

Goldman's proprietary trading desk that deals CLOs—bonds backed by corporate loans—is being merged with a desk that handles trades and transactions for clients, the source said. The person spoke on the condition of anonymity because the matter has not been made public.

The source said the change had been PLANNED for several MONTHS. Goldman declined to comment.

Earlier this year U.S. President Barack OBAMA proposed a rule that would BAR banks from betting with their own money, which is known as proprietary trading. The matter has been the subject of regulatory debates throughout the year"...

SOURCE / QUELLE dieses Ausschnitts: www.cnbc.com/id/37157053

Wettestu den Kunden gegen, bringt es Dir den GLDMAN-Segen:

The Wall Street Journal, LAW
MAY 15, 2010: Goldman Equity-Put Bet Contrasted With Clients'
BY Carrick MOLLENKAMP, Gregory ZUCKERMAN and Serena NG:

"Goldman Sachs Group Inc., under fire for its bearish wagers on mortgage bonds, also made bets that went in the opposite direction of clients' stocks, according to internal company documents released by a Senate committee.

The documents, which were released late last month but have drawn little attention, show that Goldman bought options known as equity puts on securities firm Bear Stearns Cos. and mortgage lender Washington Mutual Inc. Goldman served as a bond underwriter for Washington Mutual and sold part of a collateralized-debt obligation called Timberwolf I Ltd. to a unit of Bear"...

SOURCE  / QUELLE des Ausschnitts:
online.wsj.com/article/...546816650.html#articleTabs%3Darticle

Wir blicken immer noch nicht vollkommen durch, wie ich auch Angesichts
des folgenden Artikels wiederum Kopfes-schüttelnd zugeben muss:

Goldman Sachs’s GUPTA Did Business With RAJARATNAM (Correct)
May 06, 2010, 2:31 PM EDT

(Corrects Mark SCHWARTZ’s title in 13th paragraph.)

By Mehul SRIVASTAVA, John HELYAR and Miles WEISS:

"May 6 [2010] (Bloomberg) -- Rajat GUPTA, the Goldman Sachs Group Inc. director who is being investigated by U.S. authorities over his links to GALLEON Group LLC founder Raj RAJARATNAM, had a long-standing business relationship with the billionaire hedge fund manager.

Interviews, public records, lawsuits and regulatory filings show a 13-year history of co-investing and other business collaborations between Gupta, 61, the former worldwide head of consulting firm McKinsey & Co., and Rajaratnam, 52, the central figure in the Galleon insider trading probe.

Rajaratnam has a stake in a fund managed by New Silk Route NSR Partners LLC, founded by Gupta and three others in 2006 to invest in South Asian companies, according to a New Silk Route spokeswoman. The fund owns stakes in at least 11 Indian companies, including cell phone tower operator Reliance Infratel Ltd. and the Cafe Coffee Day chain.      “Mr. Rajaratnam has had a well-known relationship with Mr. Gupta for many years, and it is one that he is both proud and fond of,” Rajaratnam’s spokesman, Jim McCarthy, said yesterday in a statement. “Their association as investors has led to many successful ventures around the world and made a large and positive impact for a long list of worthy businesses and charities. But just as important, they have always conducted those efforts with integrity and diligent attention to sound, ethical practices.”

Criminal Charges"...

SOURCE / QUELLE dieses Ausschnitts:
www.businessweek.com/news/2010-05-06/...jaratnam-correct-.html

Jim McCARTHY, a spokesman for Rajaratnam, and Yusill SCRIBNER, a spokeswoman for U.S. Attorney Preet BHARARA in Manhattan, declined to comment. GUPTA and GOEL didn’t return calls seeking comment. ROSENBACH said in an interview that RAJARATNAM handled the TeleSoft suit, which he doesn’t recall. “He must have felt he had an injustice done against him,” ROSENBACH said.

Rajaratnam, 52, is the central figure in a wide-ranging insider trading probe that has led to charges against 21 people, including 11 who have pleaded guilty. Prosecutors said Rajaratnam used secret tips from hedge fund executives, corporate officials and other insiders to earn millions of dollars in illegal stock trades. He denies the charges.

The U.S. Securities and Exchange Commission is probing whether Rajat GUPTA, who in 2006 became a GOLDMAN SACHS Group Inc. board member, leaked confidential information to Rajaratnam about a $5 million investment in the bank by Warren BUFFETT’s Berkshire Hathaway Inc. in 2008, according to a person familiar with the GALLEON case. Rajat GUPTA isn’t accused of wrongdoing. His spokesman, Scot HOFFMAN, declined to comment"...

SOURCE / QUELLE dieses Ausschnitts:
www.businessweek.com/news/2010-04-27/...of-lucrative-deal.html

de.advfn.com/...chart&s=NO%5EGS&p=0&t=29&vol=1

Mit chartistischen Grüßen:
Teras.

Du sagst es.

Ich hab ganz schön geschwitzt.

Mal abwarten was der heutige Tag so bringt!

Viele Grüße

RJ

AFX News
18.05.2010 14:53
Goldman, BP sued over alleged SemGroup conspiracy

"NEW YORK, May 18 [2010] (Reuters) - More than 80 independent oil and gas producers have sued units of Goldman Sachs Group Inc and BP Plc, alleging they conspired with SemGroup LP to defraud the plaintiffs of money owed for oil and gas delivered prior to the energy trader's 2008 bankruptcy.

The law firm McKool Smith announced the lawsuits by the Kansas, Oklahoma and Texas producers against Goldman's J. Aron&Co unit, BP Oil Supply Co and other defendants.

It said the lawsuits were filed in Kansas and Oklahoma state courts. The complaints were not immediately available.

Goldman and BP did not immediately respond to requests for comment.

According to the law firm, the producers are owed millions of dollars for oil and gas the defendants took from SemGroup as margin calls were driving that company toward bankruptcy"...

SOURCE / QUELLE dieses Ausschnitts:
www.finanznachrichten.de/...lleged-semgroup-conspiracy-020.htm

18.05.2010 22:39
INSIGHT-Aussie fund director's GOLDMAN claim gets traction
By Matthew GOLDSTEIN:

"NEW YORK, May 18 [2010] (Reuters) - An Australian hedge fund's former independent director has been complaining to U.S. regulators for more than two YEARS about how Goldman Sachs Group contributed to the fund's collapse by selling it a toxic mortgage-linked security.

Now, in the wake of a recent U.S. SENATE hearing on Goldman's role in the U.S. mortgage mess, during which the security -- called Timberwolf -- was repeatedly singled out by lawmakers as a particularly egregious transaction, David MAPLEY said he's finally getting a measure of satisfaction.

But MAPLEY, a former independent director for the Basis Yield Alpha Fund, said what he really wants is for GOLDMAN to give BACK the $100 million the Basis Capital fund and its investors sank into the TIMBERWOLF collateralized debt obligation.

There are signs the persistence of Mapley and others connected to the defunct Australian hedge fund may be about to pay off. A Washington, D.C., law firm that represents the Basis fund is negotiating with Goldman over a possible settlement to the hedge fund's $100 million claim, people familiar with the situation said.

The fund's representatives initially hired Washington's Baach Robinson&Lewis more than a year ago to look into suing Goldman over the Timberwolf deal. The law firm did work on a DRAFT complaint, but a lawsuit was never filed for reasons that remain UNCLEAR"...

SOURCE / QUELLE dieses Ausschnitts:
www.finanznachrichten.de/...oldman-claim-gets-traction-020.htm

Die Narren, die Goldman-Sachs-Empfehlungen folgen, sterben ja leider nicht aus:

Goldman Sachs Hands Clients Losses in ‘Top Trades’ (Update1)
May 19, 2010, 12:39 AM EDT

(Adds U.S. lawsuit against Goldman in third paragraph.)

By Ye XIE:

"May 19 [2010] (Bloomberg) -- Goldman Sachs Group Inc. racked up trading profits for ITSELF every day last quarter. CLIENTS who followed the firm’s investment ADVICE fared far WORSE.

Seven of the investment bank’s nine “recommended top trades for 2010” have been money losers for investors who followed the New York-based firm’s advice, according to data compiled by Bloomberg from a Goldman Sachs research note sent yesterday. Clients who followed the tips lost 14 percent buying the Polish zloty versus the Japanese yen, 9.4 percent buying Chinese stocks in Hong Kong and 9.8 percent trading the British pound against the New Zealand dollar"...

SOURCE / QUELLE dieses Ausschnitts:
www.businessweek.com/news/2010-05-19/...p-trades-update1-.html

Nu' wird es aber gar zu SCHRILL alle Zeit diese! - Der DACKEL, wo dem Gieraffen gar nimmer nicht am Bein pinkeln durfte, weiß uns plötzlich das hier Folgende zu verkünden: WIR waren denen Goldman-Sachs-Practiken stets vollstens ABHOLD:

05/18/[20]10 - 07:00 AM EDT
WELLS seeks Distance from GOLDMAN Fray
By Lauren Tara LaCAPRA:

"SAN FRANCISCO (TheStreet) -- At a Wells Fargo (WFC) investor conference last week, CFO Howard ATKINS gave a thinly-veiled knock at a competitor that isn't even much of a competitor: Goldman Sachs (GS).

In discussing Wells Fargo's plans for future SUCCESS and RISK management, ATKINS touched upon the recent hullabaloo over Goldman's BUBBLE-era activities. Goldman is now facing civil fraud charges, and a reported criminal investigation, because of a deal that pitted some clients against others. The firm is accused of not having outlined adequate information to all parties involved in the so-called Abacus deal, while taking its own position against the losing side of the deal.

Though Wells Fargo's presence on Wall Street doesn't hold a CANDLE to Goldman's, Atkins strived to place Wells Fargo above the fray during an investor conference on Thursday:

"We tend to only take those risks we need to take on BEHALF of our customers, not AGAINST our customers," Atkins said. "And we tend not to take transactional risks unrelated to fulfilling a customer NEED. We have a saying at the company that, if we keep our customers out of harm's way we will tend to keep the company out of harm's way"...

Und die SOURCE oder QUELLE, von wo dieser ergreifende Excerpt herbei-citiert wurde,
die blickestu HIER:

www.thestreet.com/story/10759011/1/...e-from-goldman-fray.html

hier offensichtlich gemeint mit dem "recent hullabaloo" sagte Herr Tourre von GS

"I do not believe we act as an investment adviser to our clients,"

Blankfein kommentierte, er stehe hinter jeder der von seinen Mitarbeitern gemachten Äußerungen.

Und derartige Äußerungen und die entsprechende Praxis sind bei den Kunden offensichtlich nicht so sehr beliebt.

TOURRE hat correct von CLIENTS gesprochen, die ja anders als CUSTOMERS auch keiner Beratung bedürfen, in welchem Puncte es Lloyd BLANKFEIN selbst-redend leicht fiel, "hinter jeder derer von seinen Mitarbeitern [in diesem Sinne] gemachten Äußerungen" zu stehen.

Der Unterschied ist vollkommen klar: Der CLIENT bedarf schon rein DEFINITIONS-gemäß keiner Beratung, da er ja SELBER vorgibt, was er jeweils WILL. - Darf man aber deshalb jeden CUSTOMER über den Leisten schlagen, bloß weil Derselbe, vom Goldman-Sachs-Mythos geblendet, sich von Denen als "CLIENT" Bauch-pinseln (und hernach verar...) lässt?

LG: Teras.

sag ich doch.

das Goldman Sachs nicht so fein ziseliert differenziert, wenn es ums Verarschen geht.

DA bin ich aber ganz ANDERER Meinung:
Die ciselieren sogar NOCH feiner...

LG: Teras.

He was just a CUSTOMER, but he'll never be a GOOD Goldman Sachs Customer, will he?

Commentary:
Goldman Sachs Made Me SPECIAL
Gary SUTTON, 05.19.[20]10, 05:00 PM EDT
Then I learned MY place in the world:
 
"SAN DIEGO, Calif. -- A while ago, Goldman Sachs wanted my personal account. I was FLATTERED. I gave them half. Next Goldman Sachs offered me "friends and family" shares in their initial public offering. Now I felt SPECIAL.

THEY purchased some different stocks for MY account. These were shares their analysts pronounced as undervalued--stocks that should outperform the market. Wow. I felt REALLY special. I had finally slipped into the INNER circle of Wall Street. Oops. Things didn't work out THAT way. I LOST money!

Goldman called to inform me that MY balance had FALLEN below THEIR minimum.
I needed to wire in MORE cash to STAY within this exclusive club.
I went BACK to Charles Schwab, where I BELONG...

Today that man-on-the-STREET portfolio is up 12% OVER its cost basis, not overwhelming, but given the recent markets you'll hear no COMPLAINTS from me"...

SOURCE / QUELLE dieses Ausschnitts:
www.forbes.com/2010/05/19/...ent-technology-goldman-sachs.html

On the firm's aggressive marking down of securities issued by Thornburg, a mortgage company to which it had lent money: “We are a ‘mark to market’ institution and we mark our positions on a daily basis to reflect what we believe is the current value for a security if we decided to sell it,” he said. “Those marks are verified by our controllers department, which is independent from the securities division.”

But wait! At the very end, the old spirit seems to return to him. “Subsequent events clearly indicated that our marks were accurate and realistic,” Mr. van Praag said.

That's it, Lucas. Don't go into the light!"...

SOURCE / QUELLE dieses Ausschnitts:
nymag.com/daily/intel/2010/05/...cus_on_goldman_broken_ta.html

Meinen obigen Beitrag #123 habe ich mit Vorbedacht um 15 Uhr 15 geposted, weil darin das mysteriöse "fifteenth Principle" erwähnt ist, das Einige in's Reich der Fabel verweisen, während Andere davon überzeugt sind, dass es so Etwas wie das
123 oder ABC sämmtlicher Goldman-Sachs-Activities ist...

Es hängt dieses Thema engstens mit dem Meta-Eindruck zusammen, den man bei nicht abgeschaltener Wahrnehmungs-Bereitschaft im persönlichen Contact mit Goldman-Sachs-Leuten bisweilen gewinnt.

Ich hatte ja bereits www.ariva.de/_Goldman_Sachs_Bankers_t285084?pnr=8017874#jump8017874 versprochen, genau zu diesem Thema Etwas zu schreiben, doch wollen die Worte noch nicht genau genug fassen, WAS da als Meta-Eindruck ist.

Ihr müsst Euch also noch Etwas gedulden...
LG: Teras.

While recognizing that the old way may still be the best way, we constantly strive to find a better solution to a client's problems. We pride ourselves on having pioneered many of the practices and techniques that have become standard in the industry.

[06] We make an unusual effort to identify and recruit the very best person for every job.
Although our activities are measured in billions of dollars, we select our people one by one. In a service business, we know that without the best people, we cannot be the best firm.

[07] We offer our people the opportunity to move ahead more rapidly than is possible at most other places.
Advancement depends on merit and we have yet to find the limits to the responsibility our best people are able to assume. For us to be successful, our men and women must reflect the diversity of the communities and cultures in which we operate. That means we must attract, retain and motivate people from many backgrounds and perspectives. Being diverse is not optional; it is what we must be.

[08] We stress teamwork in everything we do.
While individual creativity is always encouraged, we have found that team effort often produces the best results. We have no room for those who put their personal interests ahead of the interests of the firm and its clients.

[09] The dedication of our people to the firm and the intense effort they give their jobs are greater than one finds in most other organizations. We think that this is an important part of our success.

[10] We consider our size an asset that we try hard to preserve.
We want to be big enough to undertake the largest project that any of our clients could contemplate, yet small enough to maintain the loyalty, intimacy and the esprit de corps that we all treasure and that contribute greatly to our success.

[11] We constantly strive to anticipate the rapidly changing needs of our clients and to develop new services to meet those needs.
We know that the world of finance will not stand still and that complacency can lead to extinction.

[12] We regularly receive confidential information as part of our normal client relationships.
To breach a confidence or to use confidential information improperly or carelessly would be unthinkable.

[13] Our business is highly competitive, and we aggressively seek to expand our client relationships.
However, we must always be fair competitors and must never denigrate other firms.

[14] Integrity and honesty are at the heart of our business.
We expect our people to maintain high ethical standards in everything they do, both in their work for the firm and in their personal lives.

SOURCE / QUELLE dieser 14 officiellen Goldman-Sachs-Principles:
www2.goldmansachs.com/our-firm/our-people/...s-principles.html