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Was Goldman Wrong to Take Both Sides of the Mortgage Market?

Posted Apr 19th 2010 3:30PM by Peter Cohan (RSS feed)
Filed under: Goldman Sachs

The New York Times re-reported Monday a story that originally appeared in the Wall Street Journal in December 14, 2007 about how Goldman Sachs' (GS) bet against the mortgage market that it helped create. I appeared on CNBC in December 2007 praising Goldman for taking this position because it showed that Goldman could be flexible and adapt to changing market conditions rather than getting locked in to defending its previous decisions.

Before getting into why Goldman has every right to take both sides of the mortgage market, let's look at the key facts. According to the New York Times, Goldman's top executives were involved in making decisions about its position in the mortgage market -- including CEO Lloyd Blankfein, President Gary Cohn, Goldman's president, and CFO David A. Viniar. (Their involvement is territory previously covered by the Journal -- although it focused on two traders who pushed Goldman to bet against the mortgages by shorting the ABX, a mortgage index.)

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Divvied up: TWX announces quarterly dividend

Posted Apr 28th 2006 4:35PM by Anne Metz (RSS feed)

Good news, owners of TWX stock! Not only are you going to enjoy the benefits of more reality television, more syndicated re-runs and more pithy "commentary" from observers like myself, you're also going to be getting a nickel.

That's right, yesterday, the Board of Directors of Time Warner declared that owners of Common Stock will receive $0.05 a share, in cash, on June 15, 2006.

Huzzah!

So, the big question is, how many shares of stock would I have to own (which I don't---I don't own any TWX) in order to take advantage of the following Warner entertainment options:

Continue reading Divvied up: TWX announces quarterly dividend