They really just don't even give a crap about what they say anymore do they? Goldman reminds me of the early 1980's Washington Redskins. The team with John Riggins and the famous offensive line "The Hogs". They would just line up and essentially tell the opposing defense, "We're running John right off the right-tackle, he's going to pick up at a minimum a first down and there's not a damn thing you can do about it."
From Bloomberg News;
Goldman Sachs Group Inc. executives said that new rules on trading over-the-counter derivatives may benefit the firm because of the company’s technological edge, according to Citigroup Inc. analyst Keith Horowitz. Horowitz and his team raised their earnings-per-share estimates for New York-based Goldman Sachs, and said in a note to investors yesterday that they are “more optimistic” about the firm’s ability to cope with regulatory reform. The note followed meetings with Chief Financial Officer David Viniar, President Gary Cohn,Harvey Schwartz and David Heller, the co- heads of Goldman Sachs’s securities trading business, and David Solomon, co-head of the investment-banking division. The Goldman Sachs officials “downplayed” the effect of changes to over-the-counter derivatives, commodity position limits and higher capital requirements, Horowitz wrote. The rules “may actually turn out to be a benefit for GS due to their strong technology position,” he wrote, referring to the company by its stock-ticker symbol. According to the Citigroup analysts’ note, the Goldman Sachs management team said they’ve had “a lot of interaction” with policy makers in Washington and “they believe Washington is likely to be more balanced in the proposals than some market participants may have initially feared.”
lot of interaction” with policy makers in Washington and “they believe Washington is likely to be more balanced in the proposals than some market participants may have initially feared.”
TRANSLATION: THE LOBBYISTS ALLOCATED SOME CAPITAL
Posted by: anon | September 25, 2009 at 12:49 PM