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When Goldman Sachs Announces its Quarterly Profits, The Street is Expecting the Following:

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When Goldman Sachs Announces its Quarterly Profits, The Street is Expecting the Following:

Goldman Sachs

On Tuesday, January 16, 2024, Goldman Sachs Group, Inc. intends to reveal its financial outcomes for the fourth quarter of 2023.”The satisfaction of our clients is our top priority,” to Goldman Sachs Group. We assist them by establishing a worldwide network that is driven by honesty, cooperation, and a common goal of promoting long-term economic prosperity and equal opportunity.

Goldman Sachs:

A financial holding corporation and bank, Goldman Sachs Group Inc. (G.S.) provide a variety of services in investment management, securities, commercial banking, and investment banking. Financial advising and the underwriting of both equities and debt are the two mainstays of investment banking. 

Fixed income, equities, currencies, and commodities products are all areas in which the firm makes market-making efforts. Additionally, it facilitates trading on stock, option, and futures exchanges, as well as clearing transactions. 

G.S. lends money to businesses and people through mortgages and other loan products, in addition to investing in debt and equity assets. Retail clients, high-net-worth individuals (HNWIs), and affluent families can make use of the firm’s wealth consulting and banking services, which cover all main asset classes.

 It operates in three continents: Asia, the Americas, and Europe and the Middle East. The U.S. city of New York is home to G.S.’s headquarters.

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Commission Management for Clients

  • Financial service providers are among our execution clients, and our worldwide Client Commission Management (CCM) Group is there to manage their commission accounts.
  • In accordance with relevant rules, CCM programs allow clients to use a part of their trading commissions earned by Goldman Sachs to cover the costs of research and brokerage services. Our range of customer services includes:
  • Management of client commission accounts using any of the following channels:
  • – A Commission Sharing Arrangement with the Client – Completely transparent The unveiling of Arrangement for Broker/Correspondent Clearing
  • Secure online platform for monitoring research services, commissions, and transactions, given that
  • Managing relationships, especially considering industry and overall company trends
  • Responsible for overseeing daily operations, such as receiving payments and reconciling trades
  • Trade allocation methods tailored to specific execution platforms
  • Programs for broker consolidation

When it comes to helping customers with their brokerage payment and independent research needs, our staff is dedicated to providing excellent service, improved reporting, and technology. Reach out to the Client Commission Management Group for further information if you’re curious.

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Alternate Tops

Goldman Sachs

Clients receive advice and access to investment possibilities across a wide variety of exchange-traded and OTC equity-linked products from our team, which specializes in credit and equity derivative products.

Our global convertible franchise offers robust execution services for convertible bonds and convertible preferreds and an expanding warrant market across North America, Europe, and Asia. Among the best convertible underwriters, Goldman is a perennial favourite.

Credit

Our esteemed clients can explore exciting investment opportunities in diverse credit instruments, including bank loans, investment grade, high yield, and municipal debt. And we provide them guidance and services in both cash and derivative forms to help them do so.

A distribution route for new issuance of investment grade and high-yield corporate debt, municipal debt, and bank loans is also provided to our institutional customers by our finance team, with whom we work closely.

Basic goods

Oil, refined goods, natural gas, electricity, bulk commodities, metals, and agricultural products are just a few of the commodities that we manage and finance for governments, businesses, investors, and banks throughout the globe.

With offices all over the globe, our experts provide first-rate knowledge of physical and derivative products, top-notch block trading, and industry-leading commodities research from the firm’s Global Investment Research department.

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Online Investing

Please find out how we can simplify the complexities of the stock market and assist you in creating winning trading strategies.

Investment in Shares

From physical shares to exchange-traded funds (ETFs), synthetic shares and baskets, options, and other derivatives, our global equities expertise supplies a wide variety of customers with ideas, execution, and liquidity for trading all aspects of equity products.

International Money and Growing Markets

Our foreign exchange teams are strategically located all around the globe, allowing us to provide our customers with the global access and local knowledge they need to succeed. 

Our team’s strategic consulting abilities, exceptional execution, award-winning technology, and research quality through the firm’s Global Investment Research Division have been recognized by industry leaders and recent surveys and polls.

Expansion Areas

Discover untapped prospects in the world’s developing economies with the assistance of our sales and trading experts. When it comes to the intricacies of foreign transactions, our team can assist clients in navigating them thanks to their extensive knowledge of the local market and their ability to evaluate market risk.

Trading in commodities, fixed income, rates, derivatives, credit, structured products, shares, and synthetics are all within the capabilities of the multi-product sales force.

Loan Rates

Global institutional clients can access our liquidity through our global dealer network, which includes 20 different government securities, interest rate derivatives, agencies, and inflation-related products.

To assist our clients in managing their exposure to global interest rates and mitigate macroeconomic risks like inflation and growth, we provide market information and solutions based on our extensive understanding of our client’s industries and our proficiency in cash and derivative products.

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Home Loans

Regardless of the industry or region, the Mortgage franchise is committed to providing exceptional service:

The following loan, derivative, and security products are available through the markets we create for our institutional clients:

  1. Mortgages for homes
  2. Guaranteed mortgage-backed securities issued by government agencies
  3. Mortgages for businesses
  4. Loans secured by assets and receivables

We also collaborate closely with our finance teams to offer our institutional clients a distribution route for newly issued securities and credit facilities.

Premiere Support

Risk management, portfolio monitoring, liquidity maintenance, and company growth are all areas in which our Prime Brokerage Group assists hedge funds.

Methodical Approaches to Trading

Goldman Sachs

In order to create indices and strategies for all products traded within FICC and Equities internationally, the Systematic Trading Strategies (STS) Group works as a global team.

Management of Transitions

As part of its more prominent pension and insurance brand, Goldman Sachs has been offering transition management services for more than 40 years. In 2000, the business set up a specialized transition management team in London and has been actively providing services since then using a “broker model.”

A group of experts called the Portfolio Transition Solutions Group includes names like Operations, Execution Coordinators, Portfolio Strategists, and Transition Strategists. At every stage of a transition deal, our multi-specialty strategy guarantees that customers receive the most excellent support and knowledge that Goldman Sachs has to offer.

From external sources like multi-broker to internal ones like our trading desks and sales franchise, the transition team at Goldman Sachs has access to a wealth of liquidity. Thanks to our unparalleled infrastructure, we can tailor our methods to meet the specific risk and cost goals of each customer.

Whether it’s utilizing Goldman Sachs’s infrastructure to provide pre-and post-trade analytics and improved transparency in executions or developing best-in-class risk management strategies to address transition demands, our team has always been at the forefront of product innovation.

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Contributions and Achievements

Return to expansion: Top Projects 2023

Higher returns and a renewed feeling of urgency around supply security have brought the oil and gas sector back to growth, according to Goldman Sachs Research’s 20th edition of its annual analysis of top assets in oil and gas n. Five major trends in the study of change stand out:

Growth in investment: by 2025, they anticipate oil and gas activities to compound at a rate of +9% per annum.

The pursuit of increased output has yet to materialize, even in the face of increased financial investment. According to the experts, non-OPEC shale will be relatively stable going forward, whereas shale will decelerate and reach its peak in 2026–27.

With an internal rate of return (IRR) of more than 15% in LNG and more than 20% in oil for new projects this year, profitability is good because of consolidation and higher hurdle rates.

As exploration falls short of expectations and attention turns to short-cycle, short-life initiatives, the oil reserve life has shrunk to 23 years, a 56% decline in the last decade.

With incentive pricing for oil at $80/bl and LNG at $11/mcf, the Top Projects cost curve has shrunk and steepened.

Fifty Globally Remarkable Young Leaders

At the Global Leadership Institute in New York, fifty exceptional university students from across the world are honoured by the Goldman Sachs Foundation and the Institute of International Education (IIE) for their academic achievements and leadership skills.

I am in New York. The esteemed Goldman Sachs Global Leadership Institute, which starts on July 13 in New York City, will be attended by fifty exceptional college students hailing from twenty-two different nations throughout the globe.

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A new office in Hyderabad has helped Goldman Sachs extend its operations in India.

Goldman Sachs

The global financial services and investment behemoth Goldman Sachs has increased its footprint in India with the opening of a nine-story office in Hyderabad on Thursday. About 2,500 people will be able to call the 3.51 lakh square feet building home as they work on client onboarding, platform engineering, and worldwide corporate relationships.

A Strategic Partnership Begins Between ICBC and Goldman Sachs

In Beijing, the Strategic Cooperation Kick-Off Meeting was held by the ICB of China Limited and Goldman Sachs Group on March 16 at 2:00 PM. The strategic investment and partnership agreement that the two parties had previously signed has now reached its actual implementation phase, according to an ICBC spokesperson, who characterized the action as a significant step in fulfilling the agreement.

Corporate governance, risk management, capital trading, asset management, corporate and investment banking, non-performing loan management, staff training, and other areas will be covered by the cooperation between ICBC and Goldman Sachs, according to an ICBC spokesperson who spoke with the press.

Other Services

Goldman Sachs fosters growth for clients, shareholders, and communities through investments in time, money, and ideas.

Public and commercial sector clients receive guidance, investment opportunities, and project management services.

International Finance and Markets

Services for institutional and corporate clients, including financing, advising, risk distribution, and hedging.

Solutions for Platforms

It is enabling clients with cutting-edge financial products that prioritize consumer needs.

International Financial Analysis

Clients in the stock, fixed income, currency, and commodities markets receive unique, fundamental insights and analysis from our Global Investment Research division.

26 People in Power Who Have Graduated from Goldman Sachs (G.S.)

“The first thing you need to know about Goldman Sachs is that it’s everywhere,” observed Matt Taibbi of Rolling Stone in July 2009. 

No one can dispute the pervasiveness of Goldman Sachs Group Inc. (G.S.), but whether it qualifies the firm as a “vampire squid” to use Taibbi’s now-famous term is open for debate.

Honours and Acknowledgment

TIME – Top Companies in the World

Goldman Sachs

Our shared principles of cooperation, honesty, and quality will guide us as we strive to become the best financial institution in the world.

M&A Advisor of the Year at the International Finance Review Awards

As a leading advisor on mergers and acquisitions, we help our customers with some of their most crucial strategic choices and transactions.

Americas Secondary Market Deal of the Year Presented by Private Equity International

Goldman Sachs Asset Management provides investment and advice services to a number of the world’s most prestigious organizations.

Digital Assets and Blockchain Named Best Innovation at the Banking Technology Awards

In order to propel our company and the financial markets ahead, our engineers are developing breakthroughs. The GS DAPTM is a blockchain-based platform that is rethinking the way financial services move information and value. Goldman Sachs sets it.

Market Structure and Execution Consulting Named Best Firm at Financial News Trading Tech Awards

Because of our central location in the world’s markets, we are able to collaborate with stakeholders and operate on a massive scale throughout the financial system.

Nominee for Best Cross-Asset Trading Initiative at the American Financial Technology Awards

Built for the future of digital finance, Marquee is where we offer our world-leading pricing data, risk analytics, market insights, and trading solutions.

Disagreements and Problems With the Law

Commodity price increases due to futures speculation, the company’s alleged lack of ethics, its links to authoritarian regimes, and its “revolving door” of former workers’ tight contacts with the United States federal government are all points of contention. 

Workers have voiced their displeasure with the company for a number of reasons, including 100-hour work weeks, high levels of employee unhappiness among first-year analysts, harsh treatment by supervisors, a shortage of support for mental health, and physically uncomfortable stress levels in the workplace.

Function During the Great Recession of 2007–2008

Goldman Sachs

During the financial crisis of 2007–2008, Goldman was attacked for allegedly deceiving its investors and benefiting from the collapse of the mortgage market.

 Because of this, the U.S. Goldman faced legal action in July 2010 after investigations by the Department of Justice and Congress. The U.S. Securities filed a lawsuit, which resulted in a $550 million settlement. 

In its denial of wrongdoing, Goldman Sachs said that its clients knew it was betting against the mortgage-related security instruments it was selling them and that it solely did so to protect itself from losses.

Journalists Joe Nocera and Bethany McLean claim that Goldman Sachs was “excoriated” by both the public and the press. Usually, its non-retail operation would have kept it out of the public glare, but this was not the case. Matt Taibbi accused Goldman Sachs of orchestrating.

 It is noteworthy that since the Great Depression, there have been instances of market manipulation in every primary market, ranging from tech stocks to high gas prices. In a July 2009 Rolling Stone article, they likened the financial firm to a “great vampire squid” that sucks in cash rather than blood.

Congress investigated all of the investment banks and found them wanting. Still, Goldman Sachs faced “The Senate Permanent Subcommittee on Investigations held a solo hearing, and the report was awful. Goldman Sachs was found guilty of client misrepresentation and conflict of interest in a 2011 report published by a Senate commission.

Despite the Financial Crisis of 2009, Bonuses Were Awarded to Employees.

In June 2009, following the repayment of the firm’s TARP investment from the U.S. Treasury, Goldman put aside a record $11.4 billion for incentive payouts, which resulted in some of the highest bonus payments in the firm’s history. 

Following the firm’s 2008 TARP funding, then-New York Attorney General Andrew Cuomo questioned Goldman’s plan to offer 953 workers bonuses of $1 million or more apiece. 

Meanwhile, in the same time frame, CEO Lloyd Blankfein and six other senior executives chose not to receive incentives, justifying their decision by saying they were contributing to the economic crisis.

Profits From AIG’s Rescue by the Government

Much of the $180 billion in government loans utilized by American International Group to pay counterparties under credit default swaps that AIG had acquired were incurred during the financial crisis. One2.9 billion dollars went to Goldman Sachs. 

The settlements made by AIG and other banks have been the subject of extensive debate in the media and among lawmakers. There exists a viewpoint that these banks should have incurred more significant losses instead of being fully reimbursed through government loans. 

Notably, investor Michael Lewitt has cautioned that allowing AIG to fail would have catastrophic consequences for the financial markets, akin to the Great Depression.

Defending AIG Payments: The Firm’s Stance

Goldman Sachs

According to Goldman Sachs, the bank’s net exposure to AIG was ‘not material.’ If AIG had gone bankrupt or failed, the bank would not have suffered any financial losses because of its $7.5 billion in collateral and hedges (in the form of CDSs with other counterparties). 

Over $100 million was the reported cost of these hedges by the business. “I am mystified” by the interest that the government and investors have taken in the bank’s trading connection with AIG, CFO David Viniar said; gains linked to AIG in Q1 2009 were insignificant. And that December’s profits were negligible.

 It is still widely believed that had AIG been allowed to fail, Goldman’s hedges against its exposure to the company would not have paid out. In a TARP report, the U.S. Office of the Inspector General states that had AIG failed, Goldman would have had a hard time selling its AIG trading positions—even at discounts—and other counterparties would have been under pressure. 

Despite challenges, Goldman Sachs remains optimistic about collecting on credit protection purchased against an AIG default.” 

Lastly, the study said that had AIG gone bankrupt, Goldman Sachs would have been held responsible for the potential loss of value on billions of dollars worth of collateral for their loan. According to Goldman, CDSs are priced at market value, and their holdings are netted between counterparties every day.

Consequently, the sellers of the CDS contracts were required to provide Goldman Sachs with extra collateral due to the significant increase in the cost of insuring AIG’s liabilities against default prior to its rescue. 

The company asserts that this proves its hedges were successful, shielding it against the possibility of AIG’s insolvency and subsequent defaults. 

Because protection sellers aren’t obligated to put up collateral that covers the total loss in the event of bankruptcy, and because the value of the collateral is very uncertain after the effects of an AIG bankruptcy, in practice, the collateral wouldn’t protect fully against losses.

Prospects for Gain From Participating in New York Federal Reserve Meetings on September 15, 2008

Some have claimed that Goldman Sachs got special treatment from the government because of its involvement in the pivotal September discussions at the New York Fed, which determined AIG’s destiny; however, many have stated that there is no evidence to back up the assertion—the New York Times published an incorrect but widely cited piece that started all this.

 “Imagine the meeting where Wall Street’s top executives gather to discuss the latest financial trends. Now, picture one of these chief executives present at the meeting, sharing their insights and expertise. This is the level of expertise that we aim to provide to our clients,” which was later changed to reflect that Goldman Sachs CEO Lloyd Blankfein was included.

 There were, in fact, representatives from other companies at the AIG conference in September. In addition, according to Goldman Sachs CFO David Viniar, US Treasury Secretary Henry Paulson and CEO Lloyd Blankfein had regular phone conversations but never “met” in person to talk about AIG.

The New York Fed meetings in September did not include Paulson. The AIG bailout was advised by Morgan Stanley, which the Federal Reserve hired. Even though he had to get an ethical waiver before speaking with Goldman Sachs’ CEO twice in the week leading up to the rescue, the New York Times reports that Paulson did so nonetheless.

Paulson communicated with Goldman’s Blankfein more often than with other central banks, even though regulators often communicate with market players to acquire helpful industry knowledge, especially during crises.

Officials from the federal government have stated that while Paulson was engaged in the decision-making process of the AIG rescue, the bailout’s design and funding were primarily the responsibility of the Federal Reserve.

Influencing stock prices

Goldman Sachs

Authorities said that Goldman Sachs gave Exodus Communications its highest stock rating while knowing that the company did not merit it. The firm routinely released research studies with grossly overstated financial predictions for Exodus Communications.

Goldman Sachs, Lehman Brothers, and Morgan Stanley paid a settlement of $3,380,000 (~$5.18 million in 2022) after being sued on July 15, 2003, for misrepresenting research analyst reports and artificially boosting RSL Communications’ stock price.

Goldman Sachs’s institutional clients demanded kickbacks after profiting from buying and selling undervalued IPOs during the dot-com boom, according to the New York Times. Times they accidentally obtained documents sealed in a decade-long lawsuit regarding the 1999 initial public offering (IPO) of eToys.com.

These documents reveal that Goldman’s IPOs were purposefully underpriced to generate profits for their clients. Goldman then asked these clients to return part of the profits through increased business.

Clients consented to these conditions voluntarily as they were aware of the necessity of taking part in more discounted initial public offerings—this method of selling discounted shares cheated both the companies and their original consumer investors.

Employing Tax Havens Located Abroad

Despite not having any actual offices in the Cayman Islands, Goldman Sachs maintains 987 offshore businesses, according to a 2016 analysis by the Public Interest Research Group. Among these corporations, 537 are located in the Cayman Islands. Offshore accounts for $28.6 billion of the group’s assets. Several other large American banks and corporations are also named in the study as using similar tax evasion strategies.

Goldman Sachs’ effective tax rate was 3.8% in 2008, down from 34% in 2007, while the firm’s tax burden was $14 million, down from $6 billion the previous year. Those who are against Goldman Sachs’s tax cuts say the company did it by hiding its money in offshore companies in tax havens like the Cayman Islands.

Engagement in the Sovereign Debt Crises Affecting Europe

During the European debt crisis of 2010, former Greek prime minister Lucas Papademos’s firm, Goldman, came under fire. Goldman Sachs concealed 2% of Greece’s national debt—€2.8 billion—in an off-the-books “cross-currency swap” in 2001 so the country wouldn’t violate the Maastricht Treaty.

As a result of the complex deal, Goldman Sachs earned €600 million. A unique credit default swap (CDS) index was established in September 2009 to insure the high-risk Greek national debt, with Goldman Sachs being one of several participants. In 2010 and 2011, the Greek economy came perilously close to collapse due to the soaring interest rates on Greek national bonds.

Workers’ Perspectives

In the year 2012, Greg Smith, the indU.S.ual responsible for overseeing the United States equity derivatives sales business for Europe, the Middle East, and Africa (EMEA) at Goldman Sachs, submitted his resignation after publishing a critical op-ed in The New York Times concerning the firm and its executives.; he later published a book called Why I left Goldman Sachs.

It was later found out that the accusations against Goldman were unfounded. A large body of evidence disproved nearly all of Smith’s assertions, leading The Observer to label Smith a scam artist. But when they first published Smith’s opinion piece, The New York Times never retracted it or acknowledged they were wrong.

Company Values

A group of first-year bankers confided in supervisors in 2021 about their extreme work schedules—100 hours a week with just 5 hours of sleep—and the persistent harassment they endured on the job, which had a devastating effect on their mental health. To encourage workers to “rest and recharge,” Goldman Sachs relaxed its vacation policy in May 2022. Now, senior bankers can take as many vacation days as they like, and everyone is required to take at least 15 days off a year.

Sexist Discrimination Case

Goldman Sachs was sued for gender discrimination in 2010 by two ex-employees. The women who spoke up against the business, Shanna Orlich and Cristina Chen-Oster, said that women individuals were either objectified or disregarded as a result of the persistent culture of sexual harassment and assault that prevailed in that environment.

In addition to cultural bias, the complaint detailed sexism in compV.P.sion, including 21% lower salaries for female V.P.s and client golf excursions that did not include female staff. A judge’s ruling in March 2018 allowed the female employees to sue Goldman as a class for gender prejudice, but the case did not include accusations of sexual harassment.

Nearly 2,800 female employees at Goldman Sachs settled their claims for $215 million (£170.5 million) in May 2023. Claims that the corporation engaged in discriminatory practices, such as paying women less and giving them fewer chances, led to this settlement.

Data from the federal government shows that the gender pay disparity at Goldman Sachs was 20%, far more significant than the 9.4% national average. The parties struck the agreement just one month prior to the class-action lawsuit’s planned trial.

Instructions for Selling off the Firm’s Underwritten California Bonds

Goldman Sachs

The Los Angeles Times published an article on November 11, 2008, detailing how Goldman Sachs made $25 million by underwriting bonds in California and also suggested other customers to sell the bonds.

Although there were journalists who voiced their disapproval of the seemingly contradictory actions, there were also others who pointed out that the bank’s underwriting and trading departments had made different investment decisions, which was perfectly normal and in accordance with rules pertaining to Chinese walls. Those who were critical had actually called for more separation between the two departments.

Employees’ “Revolving-Door” Relationships With Federal Agencies

A number of individuals who were once employed at Goldman Sachs are now serving in various government capacities. British Prime Minister Rishi Sunak; former U.S. Treasury Secretaries Steven Mnuchin, Robert Rubin, and Henry Paulson; Gary Gensler, U.S. Securities and Exchange Commission chairman;

John C. Whitehead, former Under Secretary of State; Gary Cohn, former chief economic advisor; Phil Murphy, New Jersey governor, and Jon Corzine, New Jersey lieutenant governor; Mario Monti, former prime minister of Italy; Mario Draghi, former president of the ECeBank and prime minister of Italy.

Former governor of the Bank of and Bank of England, and Malcolm Turnbull, former prime minister of Australia. The World Bank, the New York Stock Exchange, the London Stock Exchange Group, and rival banks like Merrill Lynch and Citigroup have all had former Goldman workers at the helm.

Concerns Around Insider Trading

David Brown, an investment banker at Goldman Sachs, pled guilty in 1986 to allegations of providing Ivan Boesky with inside information about a takeover proposal. Insider trading was admitted in 1989 by Robert M. Freeman, a senior partner, head of risk arbitrage, and protege of Robert Rubin. Freeman pled guilty on behalf of both himself and the business.

Insider Trading Case Involving Rajat Gupta

During the financial crisis of 2007–2008, Berkshire Hathaway invested $5 billion in Goldman. In April 2010, Goldman’s director was implicated in an insider trading case for allegedly notifying Galleon Group’s Raj Rajaratnam about it.

Just one month prior to his involvement becoming public knowledge, Gupta informed Goldman that he would not be running for re-election as a director. Civil charges were issued against Gupta by the (SEC) for his Berkshire investment and his disclosure of private quarterly financial information from Goldman Sachs and Procter & Gamble, where he was a director.

 Gupta has many business dealings with Rajaratnam and was an investor in several Galleon hedge funds. Rajaratnam made $17 million for his funds using Gupta-related information, while others made over $570,000 for Galleon funds administered by Rajaratnam using Procter & Gamble-related information. Gupta refuted the allegations. At AMR Corporation, he served on the board as well.

Criminal Cases Involving Fabrice Tourre

Fabrice Tourre, a vice president and salesperson for Abacus at Goldman Sachs, was not included in the July 2010 settlement. The case proceeded to trial in 2013 after Tourre’s unsuccessful attempt to have it dismissed. One of the seven allegations against Tourre was that he deceived investors regarding the mortgage agreement; a federal jury found him guilty on six of those counts on August 1.

 In regards to the most particular accusation—that he knowingly made a false or misleading statement—he was found not guilty. No criminal charges were filed against Tourre, and he was spared jail time. A $175,000 bonus and a $650,000 fine were returned to him. A career in academics was then Tourre’s goal. 

Supposed Manipulation of Commodities Prices

Goldman Sachs

Commercial banks are authorized to participate in any commercial endeavour that is considered “complementary to a financial activity and does not present a significant threat to the stability or integrity of depository institutions or the financial system as a whole,” according to a provision of the Gramm-Leach-Bliley Act.  

A financial deregulation law was passed in 1999. Investment giants like Goldman Sachs, Morgan Stanley, and JPMorgan Chase have expanded their holdings into a broad range of businesses since the rules were passed. 

Among them are companies dealing in raw commodities, including food items, zinc, copper, tin, nickel, and aluminum.

According to Taibbi (2006), a particular segment of the population views the prospect of a single entity wielding control over the supply of vital physical commodities, as well as trading in financial products related to those markets, as reminiscent of permitting casino proprietors who accept wagers on NFL games during the week to also serve as coaches for all the teams on Sundays.

When Goldman Sachs Announces its Quarterly Profits

  • On Tuesday, before the market starts, Goldman Sachs will announce its profits.
  • The financial markets are projecting $10.8 billion in sales and $3.51 per share in earnings for LSEG.
  • Goldman Sachs will report earnings for the fourth quarter of 2018 before Tuesday’s market opens.

Wall Street anticipates the following:

 

  • According to LSEG (formerly Refinitiv), earnings per share are $3.51.
  • According to LSEG, revenue was $10.8 billion.
  • According to Street Account, trading brought in $2.53 billion in fixed income and $2.22 billion in equity.
  • According to Street Account, investment banking brought in $1.65 billion.

The year has been challenging for David Solomon, CEO of Goldman Sachs, due to the stagnant capital markets and strategic errors.

But now that Goldman has moved on from Solomon’s consumer banking initiatives, which bombed, optimism is rising that the bank might recover. 

Analysts are interested in hearing about the potential for a recovery in 2024, even if Goldman’s main businesses of investment banking and trading do not revive in the fourth quarter. Some companies may be ready to move this year after sitting on their hands to acquire rivals or raise capital. 

Goldman Sachs relies heavily on Wall Street for its revenue, in contrast to its more diverse competitors. That may cause disastrous underperformance when markets aren’t cooperating and massive gains when they are.

The results released on Friday by JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo were all tainted by a plethora of incidental issues.

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