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Goldman-Sach's stock takes a beating…….

While the Dog thinks the guys at Goldman-Sachs dodged the Congressional bullet……

The world of perception is riding them hard…

The leak of the Criminal Investigation has sent the company’s stock steeply down costing holders of that stock a whole lot of value..

Shares of Goldman Sachs Group Inc (GS.N) fell as much as 9.9 percent on Friday to a more than nine-month low, a day after news that U.S. federal prosecutors in New York have begun investigating the company.

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The reported criminal investigation also prompted at least two analysts to downgrade their ratings for Goldman. Bank of America Merrill Lynch analyst Guy Moszkowski called the reports “a concern even if no charges ultimately result.”

In addition, the yield spread over Treasuries of Goldman Sachs’ 5.375 percent notes due in 2020 widened to about 201 basis points in heavy volume, from 184 basis points late on Thursday, according to MarketAxess.

The criminal investigation came less than two weeks after Goldman was charged with civil fraud by the U.S. Securities and Exchange Commission. Earlier this week, Goldman Chief Executive Officer Lloyd Blankfein and other executives underwent cross-examination by lawmakers at a U.S. Senate hearing on their role in trading mortgage-related products in 2007.

Goldman, which is now facing one of the biggest crises in its 140-year history, is seeing its shares bear the brunt of the past two weeks’ developments.

Goldman shares were down 9.6 percent at $144.88 in midday trading on the New York Stock Exchange. The shares are now down more than 21 percent since the SEC probe was announced, compared with a 2.8 percent decline in the Amex Securities Broker dealer index .XBD.

“It’s going to keep (Goldman stock) capped in terms of potential upside,” said Walter Todd, a portfolio manager at Greenwood Capital. “You started to see it recover and then something else comes out.

“The door was opened when the SEC announced their fraud charges,” Todd said. “I think you’re going to have things of this nature popping up for the foreseeable future for Goldman, but the criminal investigation obviously escalates it to the next level. … It’s going to be an ongoing overhang for these guys.”

More……..

April 30, 2010 - Posted by | Blogs, Breaking News, Crime, Government, Law, Media, Men, Other Things, PoliticalDog Calls, Politics, The Economy, Updates | , ,

5 Comments »

  1. Ten to one Goldman Sacs is shorting itself again.

    Yeah, yeah! Sure, sure!

    Hey Congress, we are really arrogant aren’t we!

    Yeah, yeah! Sure, sure!

    And everyone thinks we are smarter than you!

    Yeah, yeah! Sure, sure!

    You really want to pin us against the wall, right?

    Yeah, yeah! Sure, sure!

    Sue us! Please sue us! The SEC, the AG, the UN War Crimes Commission!

    Yeah, yeah, YEAH!

    Make the stock TANK wil you please!

    And we can say “TANK YOU!”

    And you can say ” Your World Com!”

    Yeah, yeah! Sure, sure!

    NOTE:

    A tip from Goldman Sacs!

    Buy all the frozen shrimp you can afford!

    The price will go up faster than oil, let alone faster than you can say oil slick!

    You bet your crayfish!

    Comment by Manila Calling! | April 30, 2010 | Reply

  2. […] This post was mentioned on Twitter by James Finley. James Finley said: Goldman-Sach's stock takes a beating…….: http://wp.me/pAL4p-2Cd […]

    Pingback by Tweets that mention Goldman-Sach’s stock takes a beating……. « PoliticalDog101.com -- Topsy.com | April 30, 2010 | Reply

  3. Ha, ha, ha……..

    Manila that is beautiful!!!!!!

    I agree they will somehow manage to climb out of this and try to get rich off it to boot!

    Comment by jamesb101 | April 30, 2010 | Reply

  4. Manila

    if we play cool

    China will give us a good deal on shrimp

    Comment by Timothy Leal | May 1, 2010 | Reply

  5. He, he, he

    Comment by jamesb101 | May 1, 2010 | Reply


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