Tag Archives: Goldman Sachs

CNN reports: Senator Joe Manchin’s opposition to the Build Back Better Act prompted Goldman Sachs to swiftly dim its US economic outlook. The Wall Street firm told clients Sunday it no longer assumes President Joe Biden’s signature legislation will get through the narrowly divided Congress, citing the West Virginia Democrat’s announcement that he’s a “no” on the $1.75 trillion bill. …

Yahoo Finance reports: Goldman Sachs analysts attempted to address a touchy subject for biotech companies, especially those involved in the pioneering “gene therapy” treatment: cures could be bad for business in the long run. “Is curing patients a sustainable business model?” analysts ask in an April 10 report entitled “The Genome Revolution.” “The potential to deliver ‘one shot cures’ is …

TIME Magazine reports: Contradicting rhetoric from his presidential campaign, President Donald Trump explained why he chose Wall Street billionaires for several of his Cabinet roles during a campaign-style rally in Cedar Rapids, Iowa, Wednesday evening. “So somebody said, ‘Why did you appoint a rich person to be in charge of the economy?’ I said, ‘Because that’s the kind of thinking …

The Guardian reports on what to expect: Mnuchin made much of his fortune by capitalising on the housing crisis. In 2008 Mnuchin and his partners took over IndyMac, a Californian bank that had been felled by its risky lending practices in the financial crisis and taken over by the government. Mnuchin told the Wall Street Journal last year he was …

Swampity swamp swamp. The New York Times reports: President-elect Donald J. Trump said on Wednesday that he planned to nominate Jay Clayton, a partner with the prominent New York law firm Sullivan & Cromwell, to lead the Securities and Exchange Commission, the latest appointment with strong ties to Wall Street. If confirmed, Mr. Clayton will be responsible for “encouraging investment …

Politico reports: President-elect Donald Trump campaigned on a promised to “drain the swamp” in Washington of corruption, but now that he’s preparing to move into the White House, Newt Gingrich said the Manhattan billionaire is looking to distance himself from that message. “I’m told he now just disclaims that. He now says it was cute, but he doesn’t want to …

The Hill reports: Donald Trump has picked Goldman Sachs president Gary Cohn to direct the National Economic Council in the White House, NBC News reported Friday morning. The council helps advise the president on economic policy. Cohn would be the second Goldman-linked appointment for the president-elect, who already named former Goldman Sachs partner Steven Mnuchin as Treasury secretary. Cohn met …

The Associated Press reports: When Donald Trump named his Treasury secretary, Teena Colebrook felt her heart sink. She had voted for the president-elect on the belief that he would knock the moneyed elites from their perch in Washington, D.C. And she knew Trump’s pick for Treasury, Steven Mnuchin, all too well. OneWest, a bank formerly owned by a group of …

The New York Daily News reports: Donald Trump’s Treasury pick treasures his family’s privacy. Steven Mnuchin told a judge during his 2014 divorce he wanted his home address kept private because he was worried protesters upset by foreclosures might harm his three young kids – and he even got the address wiped off the internet. In a sworn statement requesting …

CNN reports: Democratic Sen. Elizabeth Warren, who’s been an outspoken critic of President-elect Donald Trump, slammed him for saying he’s “for the American people” before he selected Steven Mnuchin, a former Goldman Sachs banker, to be treasury secretary in his administration. “He promised that he was going to run this government for the American people and not for Wall Street. …

Via Politico: President-elect Donald Trump is considering Goldman Sachs President Gary Cohn for a senior administration job, possibly as director of the Office of Management and Budget, several sources close to the situation said on Wednesday. People familiar with the matter say Cohn’s meeting with Trump on Tuesday included talks about a potential job in the new administration, possibly to …

The Wall Street Journal reports: President-elect Donald Trump will name longtime banker and former Goldman Sachs executive Steven Mnuchin as Treasury secretary, turning to a campaign loyalist and fundraiser for the incoming administration’s top economic cabinet post, a transition official said Tuesday. Mr. Mnuchin built his career sniffing out undervalued assets and converting them into massive profits. But perhaps his …

Salon reports: Despite his promise to “drain the swamp,” it looks like President-elect Donald Trump is prepared to nominate one of Wall Street’s most notorious bog monsters to be America’s next secretary of the Treasury. Steven Mnuchin, who served as the Trump campaign’s national finance chairman, has been recommended by the Trump transition team for the top post in the …

The Hill reports: Republican presidential front-runner Donald Trump took aim at rival Ted Cruz in a series of Saturday morning tweets, taunting Cruz over challenges to his citizenship and reports that he did not disclose campaign loans. Trump has tried to stoke concerns that Cruz would face legal challenges to his eligibility for president because he was born in Canada. …

The Federal Elections Commission is likely have a big problem with this. The New York Times reports: As Ted Cruz tells it, the story of how he financed his upstart campaign for the United States Senate four years ago is an endearing example of loyalty and shared sacrifice between a married couple. “Sweetheart, I’d like us to liquidate our entire …

Tomorrow’s HRC fundraiser in Los Angeles will be jointly protested by GetEQUAL and Occupy Wall Street. Via press release: [We] will protest the HRC’s Los Angeles fundraising gala in response to their selection of Goldman Sachs CEO, Lloyd Blankfein, as the national corporate spokesperson for marriage equality and for honoring Sachs with the HRC Corporate Equality award. Additionally, the protest …

Despite having been given assurances that they could peaceably protest on the sidewalk outside Manhattan’s glitzy Waldorf-Astoria, on Saturday the NYPD broke up the Occupy Wall Street demonstration during the Human Rights Campaign $650/plate gala to honor Goldman Sachs. Via press release: In NYC Saturday night, February 4, 2012, approximately 80 LGBT grassroots activists from a variety of groups united …

And you probably haven’t heard “shitty” used ten times in three minutes on C-SPAN.

Goldman Sachs, favorite whipping boy of the teabaggers (and just about everybody else), is said to be considering a bonus for its CEO Lloyd Blankfein that may reach $100M. Goldman Sachs, the world’s richest investment bank, is facing a potential political storm over how much it pays its chief executive, Lloyd Blankfein. Bankers in Davos for the World Economic Forum …