Goldman Sachs opens to the masses

[think]

Goldman Sachs opens to the masses

Ben McLannahan in New York - April 24, 2016 4:47 pm

For almost 150 years Goldman Sachs has been the go-to bank of the rich and powerful. But now the Wall Street titan is opening up to the masses on Main Street by offering online savings accounts for as little as $1 on deposit.

Goldman’s shift down market comes as the bank is under pressure to develop new streams of funding. Weak first-quarter results from the big US banks have highlighted the challenges faced by their investment banking units, under pressure from volatile markets and tight regulations.

Analysts last week fired a barrage of questions at the US banks, and at Goldman in particular, wondering why they were not doing more to reboot their businesses. Goldman posted the lowest quarterly return on equity — just 6.4 per cent, on an annualised basis — of the past four years.

The bank last week launched GSBank.com, a platform it inherited via the acquisition of a $16bn book of deposits from GE Capital...



Read more:
http://www.ft.com/intl/cms/s/0/c49f9004-08d0-11e6-a623-b84d06a39ec2.html#axzz46lwe1jEJ

[hatrack]

1. As if I would trust those sociopathic cocksuckers with a nickel of my money . . .

Here's a message from Main Street for you, GS:

[onecaliberal]

2. Fuck these money grubbing pieces of shit

[2naSalit]

3. Yeah and the fees will suck your account dry

every month because there will all kinds of hidden charges that you won't see on the 18th page of the "agreement" window most will just click on agreeing to whatever.

Once a thief always a thief.

Fuck Blankfein and his minions.