Comments on: Goldman Sachs always gets its way http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/ [Please go to 'Settings' to change your Tagline] Thu, 02 Feb 2012 06:26:42 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: More about “Government Sachs” (they own America; we just live here) « Fabius Maximus http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1883 More about “Government Sachs” (they own America; we just live here) « Fabius Maximus Sun, 02 Aug 2009 22:03:30 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1883 [...] Goldman Sachs always gets its way, 21 July 2009 — Excerpt: A lot of people have remarked upon Goldman’s extraordinary VaR levels during this whole year, and in particular recently — the bank actually set a record the other day when its VaR rose to $245 million. VaR measures the amount of money the firm could lose in a day’s trading, and is the standard measure of a company’s risk appetite. Goldman’s is and has been extremely high, in particular lately, suggesting one of several possibilities. One, it is emboldened by its vast array of state safety nets to take bigger chances in the equity markets. Two, it isn’t really taking chances, and I think I’ll leave the explanation of that possibility basically at that. [...] [...] Goldman Sachs always gets its way, 21 July 2009 — Excerpt: A lot of people have remarked upon Goldman’s extraordinary VaR levels during this whole year, and in particular recently — the bank actually set a record the other day when its VaR rose to $245 million. VaR measures the amount of money the firm could lose in a day’s trading, and is the standard measure of a company’s risk appetite. Goldman’s is and has been extremely high, in particular lately, suggesting one of several possibilities. One, it is emboldened by its vast array of state safety nets to take bigger chances in the equity markets. Two, it isn’t really taking chances, and I think I’ll leave the explanation of that possibility basically at that. [...]

]]> By: Mickey is about to have his way with Jesus. | http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1615 Mickey is about to have his way with Jesus. | Fri, 24 Jul 2009 18:51:11 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1615 [...] Wouldn’t it be awesome if you could always get your way like Goldman Sachs? [Matt Taibbi] [...] [...] Wouldn’t it be awesome if you could always get your way like Goldman Sachs? [Matt Taibbi] [...]

]]> By: goat529 http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1610 goat529 Fri, 24 Jul 2009 15:38:23 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1610 Matt, you're just wrong here. I'm no GS apologist, and I applaud you for calling them out in Rolling Stone, but this is really much ado about nothing. Every Fed regulated bank is allowed to calculate their Specific Market Risk (SMR) using EITHER a) standard SMR charges or b) an internal VaR based model. Option B results in lower capital charges, but also requires prior Fed approval. That's all GS is doing here, and I guarantee that every other Fed bank has done the same thing. Given their history it's fair to examine GS's interaction with gov't regulators, but in this case I think you've unfairly painted an every day interaction between a bank and its regulators as something far more sinister, and it's misleading to readers. Matt, you’re just wrong here. I’m no GS apologist, and I applaud you for calling them out in Rolling Stone, but this is really much ado about nothing. Every Fed regulated bank is allowed to calculate their Specific Market Risk (SMR) using EITHER a) standard SMR charges or b) an internal VaR based model. Option B results in lower capital charges, but also requires prior Fed approval. That’s all GS is doing here, and I guarantee that every other Fed bank has done the same thing. Given their history it’s fair to examine GS’s interaction with gov’t regulators, but in this case I think you’ve unfairly painted an every day interaction between a bank and its regulators as something far more sinister, and it’s misleading to readers.

]]> By: Daily Digest for July 23rd http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1585 Daily Digest for July 23rd Thu, 23 Jul 2009 09:46:00 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1585 [...] Shared Goldman Sachs always gets its way [...] [...] Shared Goldman Sachs always gets its way [...]

]]> By: Russ G http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1572 Russ G Wed, 22 Jul 2009 21:11:02 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1572 works fine for me on all the computers i've viewed it on. perhaps you need to update your browser. works fine for me on all the computers i’ve viewed it on. perhaps you need to update your browser.

]]> By: oldskool http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1571 oldskool Wed, 22 Jul 2009 18:27:36 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1571 This is an important blog and it deserves better tech support. Text appears on top of other text and it takes forever for posts to be viewed. Anyhow, we appreciate the hard work that went into the GS story. It's award-winning stuff. This is an important blog and it deserves better tech support. Text appears on top of other text and it takes forever for posts to be viewed.

Anyhow, we appreciate the hard work that went into the GS story. It’s award-winning stuff.

]]> By: jonkarlo http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1570 jonkarlo Wed, 22 Jul 2009 16:45:20 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1570 Hi Matt, we translated your Rolling Stones Article about Goldman into German. I wanted to write you an Email to ask what to do with it, but I can’t find your Email anywhere… :) Please write me to b.d.s@web.de or contact me via True/Slant if that is possible!? (pls delete this comment once you’ve read it and sorry for posting it twice) Thanks for all the reporting! I find it a lot brighter than ripping off people and calling it being clever. Jon Hi Matt, we translated your Rolling Stones Article about Goldman into German. I wanted to write you an Email to ask what to do with it, but I can’t find your Email anywhere… :)
Please write me to b.d.s@web.de or contact me via True/Slant if that is possible!?
(pls delete this comment once you’ve read it and sorry for posting it twice)

Thanks for all the reporting! I find it a lot brighter than ripping off people and calling it being clever.
Jon

]]> By: dperdomo http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1569 dperdomo Wed, 22 Jul 2009 16:36:15 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1569 Goldman gets away with it YET AGAIN. This report (http://blog.littlesis.org/2009/07/21/new-pai-report-on-obama-nominees-ties-to-sudan) released yesterday says that an Obama State Dept nominee and decades-long GS banker helped fun the genocide in Darfur. Sickening. Goldman gets away with it YET AGAIN. This report (http://blog.littlesis.org/2009/07/21/new-pai-report-on-obama-nominees-ties-to-sudan) released yesterday says that an Obama State Dept nominee and decades-long GS banker helped fun the genocide in Darfur. Sickening.

]]> By: spadovan http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1568 spadovan Wed, 22 Jul 2009 15:18:33 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1568 You are doing something. It's not sustainable what is going on. Your knowing and understanding and passing it along is the slow process to resolution. The whole messed up system will all crumble eventually. History is on our side on this one. Your frustration is just impatience. Unfortunately we can't predict when this will happen but rest assured it will but maybe not in our life time. So sit tight and keep informing everyone you know. You are doing something. It’s not sustainable what is going on. Your knowing and understanding and passing it along is the slow process to resolution. The whole messed up system will all crumble eventually. History is on our side on this one. Your frustration is just impatience. Unfortunately we can’t predict when this will happen but rest assured it will but maybe not in our life time. So sit tight and keep informing everyone you know.

]]> By: angerhesmiles http://trueslant.com/matttaibbi/2009/07/21/why-does-goldman-need-a-fed-exemption-for-var-calculations/comment-page-1/#comment-1567 angerhesmiles Wed, 22 Jul 2009 12:53:19 +0000 http://trueslant.com/matttaibbi/?p=569#comment-1567 Reading this shit kills me. There are absolutely no answers for any of this. I'm reading Matt's article in the Rolling Stone issue with the Jonas Bros...the young one is just oh so cute...and I have to put it down every so often and come back to it because it's so fucking frustrating. At least when Bush was the enemy we could just plan on voting for the other guy or what have you...there's nothing to do about this shit and it's a ridiculously impotent feeling. Reading this shit kills me. There are absolutely no answers for any of this. I’m reading Matt’s article in the Rolling Stone issue with the Jonas Bros…the young one is just oh so cute…and I have to put it down every so often and come back to it because it’s so fucking frustrating. At least when Bush was the enemy we could just plan on voting for the other guy or what have you…there’s nothing to do about this shit and it’s a ridiculously impotent feeling.

]]>