| Author | Source |
|---|---|
| u/Ok_Safety_7710 |
I hope everyone had a great holiday weekend. I hope everyone got the three Fâs they needed, Fun Family, and Food! Ahhhhh see I got you! You thought one of those was gonna rhyme with truck didnât you?! If you did get the fourth f, good on you! ( I do try my best to amuse 1st thing in the morning.) Anyway, today we a going to investigate Goldman Sachs and their CEO David Solomon.
Always Remember:
No sharing positions i.e. 50 shares @ $90 avg
No Gain/Loss posts or comments (for now); a.k.a. Gain Porn or Loss Porn
Due to this rule assume that all Gain/Loss posts are fake
This is a temporary rule which will eventually be dissolved
make no predictions
remove stop losses
remove your limit sells, instead set alerts.
5.Donât day trade GMEEÂ Article: Trading hot stocks like GameStop seems fun until you look beneath the surface â Financial Treason & Crime (stopnakedshortselling.org)
6. this is not not financial or investment advice
Who/What is Goldman Sachs?
https://en.wikipedia.org/wiki/Goldman_Sachs
Goldman Sachs was founded in New York City in 1869 by Marcus Goldman.[11] In 1882, Goldmanâs son-in-law Samuel Sachs joined the firm.[12][13] In 1885, Goldman took his son Henry and his son-in-law Ludwig Dreyfuss into the business and the firm adopted its present name, Goldman Sachs & Co.[14] The company pioneered the use of commercial paper for entrepreneurs and joined the New York Stock Exchange (NYSE) in 1896.[15] By 1898, the firmâs capital stood at $1.6 million.[15]
Goldman entered the initial public offering market in 1906 when it took Sears, Roebuck and Company public.[15] The deal was facilitated by Henry Goldmanâs personal friendship with Julius Rosenwald, an owner of Sears.[15] Other IPOs followed, including F. W. Woolworth and Continental Can.[15] In 1912, Henry S. Bowers became the first non-member of the founding family to become a partner of the company and share in its profits.[15]
The bank is one of the largest investment banking enterprises in the world by revenue,[3] and is a primary dealer in the United States Treasury security market and more generally, a prominent market maker. It is considered a systematically important bank by the Financial Stability Board. The group also owns Goldman Sachs Bank USA, a direct bank. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in Lower Manhattan with additional offices in other international financial centers.[4]
As a result of its involvement in securitization during the subprime mortgage crisis, Goldman Sachs suffered during the financial crisis of 2007â2008,[5][6] and received a $10 billion investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program, a financial bailout created by the Emergency Economic Stabilization Act of 2008. The investment was made in November 2008 and was repaid in June 2009.[7][8]
Several former employees of Goldman Sachs have moved on to work in government positions. Notable examples include former U.S. Secretaries of the Treasury Steven Mnuchin, Robert Rubin, and Henry Paulson; former Under Secretary of State John C. Whitehead; former chief economic advisor Gary Cohn; Governor of New Jersey Phil Murphy and former Governor of New Jersey Jon Corzine; former Prime Minister of Italy Mario Monti; former European Central Bank President Mario Draghi; former Bank of Canada and Bank of England Governor Mark Carney; British Chancellor of the Exchequer Rishi Sunak; and the former Prime Minister of Australia Malcolm Turnbull. In addition, former Goldman employees have headed the New York Stock Exchange, the London Stock Exchange Group, the World Bank, and competing banks such as Citigroup and Merrill Lynch.
Who is David Solomon? AkA DJ D-SOL (interesting hobby)Â https://en.wikipedia.org/wiki/David_M._Solomon
https://stopnakedshortselling.org/2020/05/subject-david-m-solomon/
David Michael Solomon (born c. 1962) is an American investment banker, who currently serves as chief executive officer (CEO) of Goldman Sachs, a position he has held since October 2018. He has also been chairman of the bank since January 2019.[3] Before assuming his role as CEO, Solomon was president and chief operating officer from January 2017 to September 2018, and was joint head of the investment banking division from July 2006 to December 2016. Solomon formally succeeded Lloyd Blankfein, the previous chief executive, on October 1, 2018, and was named chairman after Blankfeinâs retirement.[4]
Solomon also recreationally produces electronic dance music (EDM) records under the stage name DJ D-Sol (/diË sÉËl/dee-saul).[nb 1] He has performed at nightclubs and music festivals around New York, Miami, and The Bahamas.[9][10] He released his debut single, âDonât Stopâ with an extended version on Spotify in June 2018.
Solomon performs regularly as a disc jockey under the stage name âDJ D-Solâ (pronounced D-soul) producing a variety of electronic dance music (EDM).[44][45] He has performed at nightclubs and music festivals around New York, Miami, and the Bahamas.[9] Solomon maintains the Instagram account â@davidsolomonmusicâ to catalogue his exploits as a music producer.[2] In June 2018, he released a cover of the Fleetwood Mac song, âDonât Stopâ.[46] The song was originally played on Sirius XMâs BPM: Electronic Dance Music Hits the previous January.[47] âDonât Stopâ was listed in Spotifyâs 263,361-follower playlist âHappy Summer Beatsâ.[48] His Spotify profile has 550,000 monthly listeners with his debut single garnering 8 million listens.[49] Shortly after his debut release Solomon opened a SoundCloud account where he posts extended musical sets and concert performances.[50] His most recent release, âSomeone Like Youâ peaked at #4 on the Billboard Dance Club Chart in November 2020.
WE all have heard of Goldman Sachs, we already know a lot about them and their inclusion in the set of class actions filed almost immediately (like with in days of the âtrading restrictionsâ in January). BUT who knew the CEO was an EDM DJ??? I mean talk about a split personality! Iâm still trying to wrap my head around this. Itâs like oxymoron and ironic had baby! Additionally, he doesnât care if you like him. Look Iâm not trying to paint a picture of a badass CEO whoâs actually a badass person. BUT So far thatâs what he looks like. Let us see if he still comes off as a cool badass after we take a look at how he runs Goldman.
So we have a little background, the basics. Now itâs time for the bad press.
David Solomon:
He looks like a cool badass, in reality, heâs an asshole. âDavid Solomon is the worst,â one employee said referring to Solomonâs management style. âNo one likes him.â Internal surveys showed that first-year analysts complain they are suffering mental health issues, sleep deprivation and other physical ailments because they are forced to endure 100-hour-plus work weeks to keep up with a boom in trading and investment banking deals.
https://nypost.com/2021/03/22/goldman-sachs-ceo-doesnt-care-if-you-hate-him/
Gets pay cut in January 2021 for his part in 1Malaysia Development Brand. 36%
Prosecutors accused the bankâs senior executives at the time of overlooking fraud and bribery in pursuit of hundreds of millions of dollars in fees for bond sales to raise money for the fund while working for Malaysiaâs then-Prime Minister Najib Razak and 1MDB advisor Jho Low, who is accused of masterminding the fraud.
The fund was pilfered by Najib to the tune of $700 million, cash that went into the prime ministerâs own private bank account, and proceeds from the bond sales were reportedly used to pay bribes to Malaysian and Middle Eastern officials.
Gets a 20% raise in March 2020 - Wow that didnât last long⌠All while the market is starting dive as corona virus starts to really show itâs ugly head.
Just because youâre home doesnât mean you can work from somewhere really nice - like I do.
Few things annoyed Solomon more last year than an encounter with a junior employee in the Hamptons. The Goldman Sachs boss has told lieutenants how the underling walked up at a restaurant, introduced himself and pointed to associates with him â in the middle of a workday.
The tale has become the CEOâs go-to anecdote when he vents about his mostly-empty offices: proof that remote work has run amok.
Some whoâve heard the story note the apparent disconnect. The boss is perturbed by bumping into staff while he himself was spending extended summer weekends in the Hamptons at a luxe seaside rental. Solomonâs time there even made national news after he deejayed a concert where attendees flouted social-distancing guidelines, leaving New York state officials fuming.
The CEO of Goldman Sachs moonlights as a DJ and is even making (awful) dance tracks. Weâve had about enough of it. How electronic music is playing a vital â and viral â role in the whitewashing of Wall Streetâs most notorious bank. I donât even know how to summarize this oneâŚ.
https://5mag.net/features/david-solomon-goldman-sachs-dj/
Goldman Sachs boss responds to leaked report into âinhumaneâ working hours
The complaints suggested bankers at Goldman are still struggling with the long hours and high-pressure culture that was exposed when 22-year-old Goldman analyst Sarvshreshth Gupta took his own life in 2015. Gupta was found dead after complaining of working 100 hours a week and working all night.
At face Value, He looks like a badass executive with an awesome hobby. Just like the rest of the power crazy jerks who run wall street, heâs just another asshole who works his employees to literal death and accepts no responsibility.
What about Goldman Sachs as whole?
Case Sheds Light on Goldmanâs Role as Lender in short Shares
Goldman, Morgan Stanley, and JP Morgan Named in Commodity Manipulation Investigation
Whatâs Going On At Goldman? Another Senior Exec Just Jumped Ship
Dick Fludâs Vendetta Against Short-Sellers and Goldman Sachs
Goldman Sachs And Madoff - Paulson Shocked to Learn thereâs Gambling Going On In There
450,000 fine for short selling
22 million fine for failures to supervise 2012
800,000 Finra Fine - Failing to prevent trade throughs, in its alternative trading system.
Overstock V. Goldman Sachs 2014
âEasy To Borrow List To Be Discontinuedâ
1.8 million fine from Finra 2015
Stock lending Settlement 15 million to SEC
Goldman Sachs NZ Trading Under Scrutiny In Market Manipulation Trial
110 million fine to settle New York FX Probe
Fined For Illegal Naked Short Selling in Korea
7.5 Million Won Fine for Short Selling In Korea - 63,000 American
Goldman Sachs is the âCommander - and - Cheifâ of Offshoring
Go After Goldman SAchs For False Account Entries and Unearned Commissions
Goldman Sachs Shorting the U.S. Dollar
Sachs Agrees to pay 2.9 billion in Foreign Bribery Case
Goldman Sachs either doesnât care about bad press, or just doesnât care if they get caught in General.
TL;DR
Goldman is shady as fuck and doesnât care about getting caught. CEO is an asshole.
Prior Editions of Hedge Fund Bad Press:
Always Remember:
No sharing positions i.e. 50 shares @ $90 avg
No Gain/Loss posts or comments (for now); a.k.a. Gain Porn or Loss Porn
Due to this rule assume that all Gain/Loss posts are fake
This is a temporary rule which will eventually be dissolved
make no predictions
remove stop losses
remove your limit sells, instead set alerts.
5.Donât day trade GMEEÂ Article: Trading hot stocks like GameStop seems fun until you look beneath the surface â Financial Treason & Crime (stopnakedshortselling.org)
6. this is not not financial or investment advice