Goldman tells shareholders reforms will help its bottom line

[happy_liberal]

n his self-styled war against Wall Street, President Obama appears to have a powerful ally: Goldman Sachs.

The nation’s largest investment bank, famously cozy with top government officials in both parties, has tipped its hand to its shareholders, indicating that major financial “reform” proposals will help Goldman’s bottom line.

“Given that much of the financial contagion was fueled by uncertainty about counterparties’ balance sheets,” Goldman Chief Executive Officer Lloyd Blankfein and President Gary Cohn wrote in a letter at the beginning of the annual report, “we support measures that would require higher capital and liquidity levels, as well as the use of clearinghouses for standardized derivative transactions.”

http://dailycaller.com/2010/04/17/goldman-tells-shareholders-reforms-will-help-its-bottom-line/

[laughingliberal]

1. Things that make you go hmmm. nt

[Turbineguy]

2. If you are honest, reform will help.

If you are crooks it will hurt.

But then again, maybe they are crooks trying to spread some bullshit.

[MidwestTransplant]

3. "standardized derivitive transactions" is the key here. What of non standardized?

[aquart]

4. I have a better idea. Outlaw derivatives.

[mucifer]

5. I think they are a bit despetate with their stocks plunging. What would you expect them

to say? "Oh no we are doomed! Take all of your money out of our stocks"

I don't think so.

[rucky]

6. This tells me reform is likely...

and they're trying to manage shareholder perceptions before it goes down.