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Strategies & Market Trends : Waiting for the big Kahuna

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To: Real Man who wrote (77489)	11/13/2007 10:45:55 AM
From: ldo79	Read Replies (1) of 94695

GS is a good example of deceit going on in the banking industry. From Mauldin's piece this weekend: Goldman Sachs Equity base: $39 billion Level 3 assets: $72 billion Level 3 to equity ratio: 185% From GS today: Goldman Sachs sees no big writedown, remains short mortgages NEW YORK (MarketWatch) -- Goldman Sachs CEO Lloyd Blankfein said Tuesday that the firm maintains a short position in the subprime mortgage market and will not be taking any significant charges to write off losses on its position. Blankfein, speaking at a financial services conference in New York sponsored by Merrill Lynch, said that the firm remains bearish on the mortgage backed securities market. He added that a new accounting rule regarding the riskiest assets a firm holds would not hurt the company's business. Goldman shares rose 6% in morning trade Tuesday, to $227.57.

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