The Good, The Bad, & The Ugly – Week of 1/7/2013

The Bad

  • After Blankfein vow that Goldman had stopped making bets with the bank’s money, Goldman Sachs is revealed to have a secretive group called Multi-Strategy Investing which wagers $1 Billion on stocks, bonds, etc. Basically a complete sidestep of the Volcker Rule. Max Abelson at Bloomberg 1-8-2013 (Barofsky on Bloomberg talking about it)
  • “A foreclosure-review system that failed to compensate mistreated borrowers has been mostly scrapped in an $8.5 billion agreement with the largest U.S. mortgage servicers.” (Should be under Ugly but I guess we’ve seen these settlements way too many times) Jesse Hamilton at Bloomberg 1-8-2013
  • Felix Salmon on why the change in liquidity requirements (banks can now count MBS as liquidity) under Basel III is a bad idea Reuters 1-9-2013

The Ugly

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