Anyone else working at Investment Banks notice the armed guards/police outside today?

[timmyz]

because they allocated those losses to clients instead of to the firm. that's why its Global Alpha fund got a big drawdown last summer.

profitable trades: GS allocates them to itself
unprofitable trades: GS allocates them to the fund managing opm

Quote from kandlekid:

Goldman (maybe JPM also) is the only IB that didn't leverage their MBSs up the wazoo. Ever wonder why they came out relatively ok ?

 

[lolatency]

Quote from kandlekid:

Well, Citigroup on 53rd st has had big security ever since the threat a number of years ago. No big deal for NY. Just a different threat.

Security guards, or NYPD?

 

[sjfan]

Quote from timmyz:

because they allocated those losses to clients instead of to the firm. that's why its Global Alpha fund got a big drawdown last summer.

profitable trades: GS allocates them to itself
unprofitable trades: GS allocates them to the fund managing opm

This doesn't make any sense... if they do that, clients walk away and the funds are shut down. The Global Alpha group live on their fees, not GS's prop desk revenue....

 

[Anaconda]

Quote from kandlekid:

Goldman (maybe JPM also) is the only IB that didn't leverage their MBSs up the wazoo. Ever wonder why they came out relatively ok ?

Goldman would have been bankrupt if they did not covert to a money market center. You can nuthug them all you want, but the facts remain that Goldman was finished just like the rest if not for that transition.