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At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
Peter Eavis describes the results of the new Federal Reserve LISCC's determination under Tarullo, Gibson and Taylor, to bring discipline to financial markets and reduce systemic risk. Over the last 3 years Goldman Sachs has spent $16.3 billion in buybacks, about 70% of profits, to return money to shareholders and improve metrics such as earnings per share. This strategy will now have to be reversed. With the Fed stress tests in Feb. 2015 the focus is on banks with large trading desks. Goldman unlike other banks has counted on a strategy of preserving a large trading operation in the hope that this will earn the bank larger profits when the market recovers. This does not sit well with the Fed in the 2015 stress tests- showing a $23.8 billion loss if the stock market fell by 60% in a crisis, leaving Goldman with a bare minimum in reserves. Goldman will now have to reduce the buybacks to add to reserves after the current stress tests, and pare down its trading desk operation.
Goldman Sachs and the March 2015 U.S. Federal Reserve Stress Tests- going backs to the lessons of the 2009 financial crisis
03/08/2015
Grouped Articles
At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
New York Times 03/08/2015
Big Banks Struggle to Pass Fed’s ‘Stress Tests’
Wall Street Journal 03/13/2015
Revised ‘Stress-Test’ Plans at Goldman, Morgan Stanley Succeed
Wall Street Journal 03/13/2015
Beware the Silence of the Banks
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Goldman Sachs Not Sure It Can Sell Private-Equity Stakes
WSJ 08/04/2016
Goldman Sachs $835 million loan to Banco Espirito Santo of Portugal before its collapse
01/20/2015
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Inside Goldman Sachs’s Loan to Banco Espírito Santo
Wall Street Journal 01/20/2015
At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
New York Times 03/08/2015
Goldman Sachs Wants to Make More Giant Loans
Wall Street Journal 01/20/2016
Goldman Sachs Not Sure It Can Sell Private-Equity Stakes
WSJ 08/04/2016
Goldman Sachs in the global financial crisis of 2008-2009
04/01/2010
Grouped Articles
BusinessWeek 04/01/2010
New York Times 04/17/2010
New York Times 04/17/2010
Paulson, Looking to Go Short on Mortgages, Found a Willing Partner
Wall Street Journal 04/17/2010
Trader Seized on Mortgage-Security Boom
Wall Street Journal 04/17/2010
U.S. Charges Goldman Sachs With Fraud
Wall Street Journal 04/17/2010
The 2013 addition of Goldman Sachs, Visa and Nike to replace HP, Alcoa and Bank of America for the Dow Jones Industrial Averages (DJIA)
09/10/2013
Grouped Articles
Dow Index Drops Bank of America, Alcoa, HP
New York Times 09/10/2013
Apple Ascends to Dow Jones Industrial Average
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At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
New York Times 03/08/2015
Nike’s Valuation Is Getting Heavy
Wall Street Journal 03/19/2015
Alcoa Swings to a Loss on Charges
Wall Street Journal 01/12/2016
Goldman Sachs share price performance
07/02/2014
Grouped Articles
Fading Trading Dims Goldman's Prospects
Wall Street Journal 07/02/2014
Goldman Sachs Earns Much Higher Profits, but Stock Falls on Worries Over Sustainable Returns
New York Times 10/16/2014
Disappointing Trading Results Hobble 4th-Quarter Revenue at Goldman Sachs
New York Times 01/16/2015
Wall Street Journal 01/19/2015
In Wake of Financial Crisis, Goldman Goes It Alone
Wall Street Journal 02/12/2015
At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
New York Times 03/08/2015
A changing Goldman Sachs in 2011-2013 takes on less trading risks
07/20/2011
Grouped Articles
This Trend Is No Friend to Goldman
Wall Street Journal 04/17/2013
Wall Street Journal 07/23/2013
Fall in Revenue at Goldman Sachs Raises Concerns
New York Times 10/17/2013
Exit Shows Blankfein Still Rows Goldman
Wall Street Journal 10/22/2013
A Moot Effort to Burnish the Reputation of Goldman Sachs
New York Times 10/23/2013
Goldman Dances to the New Street Beat
Wall Street Journal 12/18/2013
Goldman Sachs efforts to correct errors from the period before 2009 and improve its image
07/23/2013
Grouped Articles
Wall Street Journal 07/23/2013
Exit Shows Blankfein Still Rows Goldman
Wall Street Journal 10/22/2013
A Moot Effort to Burnish the Reputation of Goldman Sachs
New York Times 10/23/2013
Goldman Sachs, Buying Redemption
New York Times 10/26/2013
Goldman Seeks to Improve Working Conditions for Junior Staffers
Wall Street Journal 10/29/2013
Fed Launches Review of Practices for Supervising Big Banks
Wall Street Journal 11/20/2014
The trader culture of Wall Street and firms like Goldman Sachs that worshipped values that were the opposite of what were handed down by our forefathers for generations.
02/11/2009
Trader Monthly shows these values in its content which glorified a culture of extravagant spending, and a sense of entitlement based on a pugnaciopus culture that felt that it delivered. Except that it was misallocating capital on a massive scale disrupting the delicate workings of the capitalist economy.
Grouped Articles
On Wall St., A Culture of Greed Won't Let Go
New York Times 07/15/2013
Wall Street Journal 07/23/2013
BusinessWeek 04/01/2010
Exit Shows Blankfein Still Rows Goldman
Wall Street Journal 10/22/2013
A Moot Effort to Burnish the Reputation of Goldman Sachs
New York Times 10/23/2013
Goldman Sachs, Buying Redemption
New York Times 10/26/2013
Goldman Sachs's continuing focus on the commodities division and trading in 2014-2015
02/12/2015
Grouped Articles
In Wake of Financial Crisis, Goldman Goes It Alone
Wall Street Journal 02/12/2015
At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
New York Times 03/08/2015
Goldman Sachs in Talks to Sell Its Coal Mines
Wall Street Journal 05/04/2015
Goldman Sachs Wants to Make More Giant Loans
Wall Street Journal 01/20/2016
Goldman Sachs and the "Volcker Rule"
10/12/2011
Grouped Articles
Volcker Rule Might Just Be Kabuki Theater
Wall Street Journal 10/12/2011
Volcker Rule to Curb Bank Trading Proves Hard to Write
Wall Street Journal 09/10/2013
The Volcker Rule on Bank Risks Approaches Its Final Edits
New York Times 12/03/2013
Regulators Set to Approve Toughened 'Volcker Rule'
Wall Street Journal 12/04/2013
At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
New York Times 03/08/2015
Goldman Readies Fund Business for 'Volcker'
Wall Street Journal 02/07/2013
Goldman Sachs and U.S. regulators in 2015-2017- cutting risks in trading activity and private equity/hedge fund investments following the excessive leveraging of the 2008 financial crisis
08/04/2016
Stronger regulation takes shape through the efforts of Daniel Tarullo at the Federal Reserve and the LISSC. The situation with Goldman Sachs, one of the highly leveraged banks during the 2008 financial crisis still hoping to earn high profits with large trading activities.
Linked Articles
At Goldman Sachs, Stress Test Results Could Endanger an Important Profit Source
New York Times 03/08/2015
Goldman Sachs Not Sure It Can Sell Private-Equity Stakes
WSJ 08/04/2016
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