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« Barofsky: Financial Bailout Tally Could Reach $23.7 Trillion | Main | Paul Krugman On Bailouts & Lemon Socialism (Times Talks Video) »
Tuesday
Jul212009

Gasparino: Goldman Has No Plans To Give Up Commercial Bank Status (CNBC Video)

Charlie's a pretty vocal Goldman critic, so there was some surprise that they chose him to be their mouthpiece to the detractors.  Some decent information in this clip.

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Reader Comments (3)

Hmmm. As a taxpayer, is my partial ownership of "Golden Sacks" now recinded by their public bailout payback, or do I still have a backdoor quasi-ownership stake through their AIG counterparty payouts ???
Anyway, in either case, as a non-voting, unwilling, possible shareholder, I recommend they start acting like the commerical bank they are and extend some of their largess to cash-strapped corporate and even retail consumer (i.e. mortgage) borrowers on the principle adjustment and refi upswing. Yeah, right!

With all this newfound capital is JPM and GS on a lending spree to earn normal interest income, or do they not think that capital collateral has bottomed yet? Maybe they prefer high risk speculative return rates vs. commercial lending rates?
If there was ever an argument to bring back Glass Steagall, Goldman is the poster child for it.
Jul 21, 2009 at 8:53 AM | Unregistered CommenterWil Martindale
Great job Mr. Gasparino and Mrs. Caruso-Cabrera! More like this.

"Very handsome picture by the way." LOL. Is Michelle flirting with Charlie? Love how he tried to play it off by talking about the monitor being moved, but the grin on his face gave him away. :p
Jul 21, 2009 at 5:59 PM | Unregistered Commenterspideydouble
Why would GS want to leave commerical banking? Their business model is working fine.

In the last three years they have grown in power beyond any bankers dream of 2005. Tomorrow the World!
Jul 21, 2009 at 7:42 PM | Unregistered CommenterK

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