...
HSBC is possibly the world's sleaziest bank. They are also one of the relatively few banks who will store "allocated gold" -- that is, gold bars with your name on them (you have the claim on Bar No. xxxxx, 999 fine, etc.) and you are charged storage. But, when the push comes to shove, will you get your gold bar?
Corzine "corzined" exactly those customers he was charging for "allocated" gold. And Corzine still runs free. Oh yes, he was a bundler for Obama...
* * *
GS is famous for sleaze as well. ZeroHedge regularly points out that they make money off their "muppets" (their own customers) by giving them bad advice (after they make their own trades, for example, HFT is another example).
Goldman was said to be the main beneficiary of the AIG bailout in 2008/2009...
A real pair of winners. Run, don't walk if you have money with either.
Topic: Goldmansachs and HSBC possibly for a time the 2 biggest Insolvencies in History (Read 1635 times)
October 28, 2014, 08:58:17 PM
October 28, 2014, 08:26:01 PM
These two companies are known gamblers, not card gambling but business gambling. I believe cryptocurrency might solve their problems and rebuilt the company if they are smart enough. I am not that smart.
They may gamble however they place bets that have a positive NPV while "most" bets have a negative NPV (for example if you play blackjack for long enough you will eventually lose money if you are not cheating) October 28, 2014, 07:04:40 AM
Goldman won't be going bankrupt; they held the fed over a barrel with the whole AIG thing until they got their portions paid back in full.
October 27, 2014, 07:07:26 PM
These two companies are known gamblers, not card gambling but business gambling. I believe cryptocurrency might solve their problems and rebuilt the company if they are smart enough. I am not that smart.
September 28, 2014, 11:42:39 PM
With combined asset values at close to 4 Trillion dollars and aguably the epicentres of the subprime mortgage crisis, with reportedly hundreds of billions of bad securities offloaded from their books prior to the Meltdown their is a possibility that these two world renowned and highly succesful banks where at a time maybe even unknowingly facing the Two biggest bankruptcies in history.
No. They were able to get the mortgages off of their books (meaning they sold them to other investors) therefore these mortgages do not affect their balance sheet.
Also a large portion of the 4 trillion dollar figure in assets are assets held for other entities (in trust). As a result as the value of the assets held on behalf of others increases the associated liability increases by an equal amount (and when the value of the assets held on behalf of others decreases, the associated liability decreases by an equal amount)
EDIT: [/thread]
September 28, 2014, 12:50:27 AM
With combined asset values at close to 4 Trillion dollars and aguably the epicentres of the subprime mortgage crisis, with reportedly hundreds of billions of bad securities offloaded from their books prior to the Meltdown their is a possibility that these two world renowned and highly succesful banks where at a time maybe even unknowingly facing the Two biggest bankruptcies in history.
goldman sachs has alot of good assets, and any 'bankruptcy' is just crap way to screw tax payers. when you see that sachs owns over 25% of a company producing a raw material linked to isreal and ukraine(hinting at ties to current military movements), where this material can be used for many things, everything from fracking, apple, pepsi, samsung, TV's laptops, satnavs you will start to see that funds are being spent on a bigger agenda.. and not really about consumer mortgages,
September 28, 2014, 12:32:06 AM
With combined asset values at close to 4 Trillion dollars and aguably the epicentres of the subprime mortgage crisis, with reportedly hundreds of billions of bad securities offloaded from their books prior to the Meltdown their is a possibility that these two world renowned and highly succesful banks where at a time maybe even unknowingly facing the Two biggest bankruptcies in history.
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