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  #2321  
Old 16.01.2014, 10:27
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Lloyd Blankfein owns 1,819,128 shares at yesterdays closing price of 178.75 makes $325,169,130. There are other partners with current holdings exceeding $100 million, so they do still have significant skin in the game.
http://finance.yahoo.com/q/ir?s=GS+Insider+Roster
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Old 16.01.2014, 10:37
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Lloyd Blankfein owns 1,819,128 shares at yesterdays closing price of 178.75 makes $325,169,130. There are other partners with current holdings exceeding $100 million, so they do still have significant skin in the game.
http://finance.yahoo.com/q/ir?s=GS+Insider+Roster
Thank you for the link. I wonder whether Blankfein was one of the unlimited liability partners, and if so how many shares he sold in the privatisation?
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  #2323  
Old 16.01.2014, 10:47
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Found an interesting snippet: http://dealbook.nytimes.com/2011/05/...now-scattered/

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While the clubby culture remains, the tight-knit group has lost its viselike grip on the company, as the wishes of the insular partnership have given way to the demands of the outside shareholders. The roughly 480 partners currently own less than 10 percent of the company, down from approximately 60 percent at the initial public offering in 1999.
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Old 16.01.2014, 10:54
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Thank you for the link. I wonder whether Blankfein was one of the unlimited liability partners, and if so how many shares he sold in the privatisation?
He was indeed, as were the other large holders.
If you search you can find the prospectus & other forms submitted at & after floatation. A handful of partners retired at the time so it's difficult to track their holdings. Many had holdings exceeding $50 million at the time.

I know several UK partners who sold large holdings when capital gains tax was reduced to 18% & was then going to rise to 27%. The UK revenue spent 10 years arguing what the 1982 base value for CGT would be & finally settled at the original figure proposed by Accountants working for GS. Around £14/$20 IIRC.
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15 years on you would expect large sales to have taken place, some of those original holders are now dead, others will have lost 50% due to marriage break ups & Just retiring will get you off the list of current partners so the numbers look very reasonable to me.
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Old 16.01.2014, 18:14
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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He was indeed, as were the other large holders.
If you search you can find the prospectus & other forms submitted at & after floatation. A handful of partners retired at the time so it's difficult to track their holdings. Many had holdings exceeding $50 million at the time.

I know several UK partners who sold large holdings when capital gains tax was reduced to 18% & was then going to rise to 27%. The UK revenue spent 10 years arguing what the 1982 base value for CGT would be & finally settled at the original figure proposed by Accountants working for GS. Around £14/$20 IIRC.

15 years on you would expect large sales to have taken place, some of those original holders are now dead, others will have lost 50% due to marriage break ups & Just retiring will get you off the list of current partners so the numbers look very reasonable to me.
It's an interesting subject, but a bit of a waste of time when the banksters own the politicians who run the world. Let's face it, they own our currencies and much of our working lives - maybe we shouldn't let them own our free time too.
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  #2326  
Old 27.01.2014, 14:57
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Bloomberg: Let Banks Fail Is Iceland Mantra as 2% Joblessness in Sight
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Iceland let its banks fail in 2008 because they proved too big to save.

Now, the island is finding crisis-management decisions made half a decade ago have put it on a trajectory that’s turned 2 percent unemployment into a realistic goal.
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The island’s sudden economic meltdown in October 2008 made international headlines as a debt-fueled banking boom ended in a matter of weeks when funding markets froze. Policy makers overseeing the $14 billion economy refused to back the banks, which subsequently defaulted on $85 billion. The government’s decision to protect state finances left it with the means to continue social support programs that shielded Icelanders from penury during the worst financial crisis in six decades.
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  #2327  
Old 21.03.2014, 20:57
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Seems Credit Suisse will pay circa US$ 850M to close discussions about some bad mortgages in 2005/2007.
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  #2328  
Old 04.04.2014, 10:50
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Any bank is ultimately a confidence game. If you look at their balance sheet (any bank that is) you'll see that their own capital is dwarfed by their liabilities - meaning that when people pull out money 'en masse' , or when there is a portion of the loans failing, the bank gets in trouble, This has been the case since the Dutch & English invented 'fractional' banking.

At the moment, trust is there (again), but any bank - also UBS - can fail.

Take it this way - if you feel comfortable putting money in HSBC, Barclays, RBS etc then UBS is fine too.

There are smaller alternatives such as CLientis - all they do is taking savings in and making (small) corporate loans and extend mortgages. There your risk is the Swiss economy.
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  #2329  
Old 15.05.2014, 22:49
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

looks like CS will be paying the US Govt. around US$ 2.5 billion to settle certain allegations
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Old 19.05.2014, 19:01
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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looks like CS will be paying the US Govt. around US$ 2.5 billion to settle certain allegations
... without admitting guilt of course. when is this nonsense going to end??

We've done nothing wrong, but we'll pay 2.5 Billion if you'll never bring this up again..? Yeah right.
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  #2331  
Old 19.05.2014, 19:07
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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... without admitting guilt of course. when is this nonsense going to end??



We've done nothing wrong, but we'll pay 2.5 Billion if you'll never bring this up again..? Yeah right.

Small change to close a matter , rather like paying a parking ticket.
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  #2332  
Old 26.06.2014, 23:44
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Barclays sued by New York attorney general over alleged 'dark pool' fraud - another day in Paradise
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  #2333  
Old 28.06.2014, 23:19
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Barclays sued by New York attorney general over alleged 'dark pool' fraud - another day in Paradise
Some people are forecasting a fine of circa US$ half billion

Whereas BNP are rumoured to be looking at a fine around twenty times that
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  #2334  
Old 01.07.2014, 09:39
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Some people are forecasting a fine of circa US$ half billion

Whereas BNP are rumoured to be looking at a fine around twenty times that

Seems the BNP fine will "only" be $8.9 Billion
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  #2335  
Old 10.07.2014, 21:31
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

CS just wrote to over 1,000 current and former employees that the US tax authorities have their names as advisers to possible tax dodgers??
Oooppss
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  #2336  
Old 10.07.2014, 21:54
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

A bit off topic since it is Austria but a fairly large bank there is in the process of going tits up (sorry, bankrupt is not the right word these days. Possibly "Break up" is more appropriate ) Apparently these days "insolvency" is a dirtier word than the one I used above. LOL

Austrian Parliament Approves Hypo Alpe Law Imposing Loss
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  #2337  
Old 10.07.2014, 23:08
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

And from today's Telegraph
"Portugal’s regulator today suspended trading of Banco Espirito Santo after its share price crashed 17pc in Lisbon, reviving worries about the underlying health of Europe’s banks.
The STOXX index of European lenders fell to its lowest this year following a bank run in Bulgaria and a profits shock from Austria's Erste Bank.
The index is down 11pc since early June
. "
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  #2338  
Old 14.07.2014, 14:46
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Now Citigroup fined seven Billion; never ending story!
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  #2339  
Old 16.07.2014, 12:09
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Some people are forecasting a fine of circa US$ half billion

Whereas BNP are rumoured to be looking at a fine around twenty times that

Because US banks are a model of virtue!
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  #2340  
Old 16.07.2014, 14:12
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

It's being speculated on some alternative financial sites that the German Deutsche Bank and the Commerzbank might be next on the list of US targets for fines.
What the fools in Washington don't realize is that they are driving Europe into the arms of the Eastern sphere of influence and thereby are shooting themselves (and the dollar system) in the foot.
Click here
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