Wall Street’s biggest firms are considering the suitability of selling opaque financial products to governments, endowments and not-for-profit institutions after the contracts magnified credit-market losses that plunged the U.S. into a recession. “There is no distinction among very different groups of investors, and this is where things might change,” said Dino Kos, a managing director [...]

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Within days — perhaps even hours — of news that Goldman Sachs (GS.N) was facing fraud charges from U.S. regulators, rivals seized on a chance to elbow in front of Wall Street’s most profitable bank. DEALS Investment bankers have been lobbying executives at state-owned Agricultural Bank of China and pushing officials in Beijing to drop [...]

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Royal Bank of Scotland’s deal for ABN Amro is acknowledged as a shocker. But is it the worst ever? Mathieu Robbins counts down the top ten bad deals. Tuesday, 20 January 2009 Is Royal Bank of Scotland’s horrendously damaging acquisition of Dutch rival ABN Amro in 2007 the worst ever M&A deal? According to academics, [...]

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EW YORK: US banking giant Goldman Sachs blasted past Wall Street forecasts on Thursday, posting fourth quarter and full-year 2009 profits well above expectations despite a slip in revenues. Goldman Sachs, one of the leading Wall Street investment banks, said it had net profit of 4.787 billion dollars in the fourth quarter. Earnings per share [...]

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Layers of money managers that don’t bear the brunt of losses but walk away with big payouts when things go well have turned the US economy to a type of “ersatz capitalism,” Joseph Stiglitz, Columbia University professor and Nobel laureate, told CNBC Tuesday. “An awful lot of people are not managing their own money,” Stiglitz [...]

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WASHINGTON: Top US bankers on Wednesday acknowledged mistakes that led up to the global financial crisis as a special commission launched its inquiry into the economic calamity. The congressionally mandated 10-member panel, which has been compared to the 9/11 panel that studied the September 11, 2001 terror attacks on the United States, began its first [...]

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SINGAPORE - The Government of Singapore Investment Corp (GIC) has written down most of its US$675 million investment in a giant New York apartment complex that was bought at the height of the property boom in the United States but which has since suffered from the collapse of the housing market there. The joint owners of [...]

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In late October 2007, as the financial markets were starting to come unglued, a Goldman Sachs trader, Jonathan M. Egol, received very good news. At 37, he was named a managing director at the firm. Mr. Egol, a Princeton graduate, had risen to prominence inside the bank by creating mortgage-related securities, named Abacus, that were [...]

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By GENEVIEVE CUA The failure of Lehman Brothers gave structured products a bad name but wealthy investors are warming to derivative-based solutions again. But events of the past year have left their mark on such products as structures are now simpler and tenors shorter. Barclays Capital’s head of investor solutions Philippe El-Asmar says issuance in [...]

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Oct. 23 (Bloomberg) – New Jerseytaxpayers are sending almost $1 million a month to a partnership run by Goldman Sachs Group Inc. for protection against rising interest costs on bonds that the state redeemed more than a year ago.

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