Hard times make for strange bedfellows. It isn't gospel yet, but you heard it here first...
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Can anyone tell me why this move would make sense for Goldman Sachs?
are you kidding? they'd get access to its huge retail business and deposit base. however, they'd also drop a neutron bomb on the investment banking segment.
Yeah, as if Goldman has the money to do this...unless government gives goldman 50B to buy Citi
w/o an incentive the move is simply retarted for Goldman. Their stock woud take a major hit, they get giant debt, by god they get the 2nd largest bank by deposits but it will royally fuck them up. <abbr title="investment banking
">IB would get raped.So what do you do? -I work for an investment banking firm. Oh okay; you are like my brother, he works for Edward Jones. -No, a college degree is required in my profession
...quite eloquent.
I want to hear a single reason why a move such as this will negatively impact Goldman's pure IB business...more out of curiosity than anything...
culture clash... try merging those two very different cultures. people are bound to not be happy
I bet we end up with a government rescue. Although I am not totally sure what that would mean for the company. You guys think they'd just buy up all the "bad" assets? What would that mean for the company in the long run? Last thing I would want is Barney Frank determining bonuses (joking).
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