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commentary on Politics and a little bit of everything else

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.

HOT STOCKS

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

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.

HOT STOCKS

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

Toyota’s Stock declines…..after Transportation Secretary’s comments……

NEW YORK—Toyota Motor Corp. shares pared earlier declines after U.S. Transportation Secretary Ray LaHood said he had misspoke when he had advised in congressional testimony that people stop driving cars involved in Toyota’s recall, advice that had initially caused a steep drop in Toyota’s shares.

toyotastox0203

I told you so……

Testifying before the House appropriations committee, Mr. LaHood was asked what advice he would give to owners of Toyotas subject to the recall. “My advice is, if anybody owns one of these vehicles, stop driving it, take it to the Toyota dealer because they believe they have the fix for it,” Mr. LaHood said.

His staff immediately sought to clarify the comments, and after the hearing Mr. LaHood said the remark was an “obvious misstatement.” He said that he intended to urge Toyota owners to take their vehicles to dealers to have them examined and, if necessary, fixed.

I told you so…..

Department of Transportation spokesman Bill Adams said in an email, “The DOT is advising owners of recalled vehicles to contact their local dealerships to arrange for fixes as soon as possible.”

Toyota said on Monday it has the fix for the problem and would begin shipping the new parts to auto dealers. The Japanese auto maker said in a statement on its Web site that it “appreciated” Mr. LaHood’s clarification.

“We want to make sure our customers understand that this situation is rare and generally does not occur suddenly. In the rare instances where it does occur, the vehicle can be controlled with firm and steady application of the brakes,” the statement read. “If you are not experiencing any issues with your pedal, we are confident that your vehicle is safe to drive.”

I told you so…….

Toyota shares had been hovering closer to $75 after the opening bell but started falling more sharply after Mr. LaHood spoke. Some of the decline eased after the clarification; Toyota shares were down about 5.2% at $74.14 in afternoon trading.

Since the recalls were announced, Toyota shares have declined 20%, wiping out more than $30 billion in market capitalization.

I told you so……

February 3, 2010 Posted by | Automobiles, Breaking News, Government, Media, Men, PoliticalDog Calls, The Economy, Updates | , , , , | 2 Comments

Toyota's Stock declines…..after Transportation Secretary's comments……

NEW YORK—Toyota Motor Corp. shares pared earlier declines after U.S. Transportation Secretary Ray LaHood said he had misspoke when he had advised in congressional testimony that people stop driving cars involved in Toyota’s recall, advice that had initially caused a steep drop in Toyota’s shares.

toyotastox0203

I told you so……

Testifying before the House appropriations committee, Mr. LaHood was asked what advice he would give to owners of Toyotas subject to the recall. “My advice is, if anybody owns one of these vehicles, stop driving it, take it to the Toyota dealer because they believe they have the fix for it,” Mr. LaHood said.

His staff immediately sought to clarify the comments, and after the hearing Mr. LaHood said the remark was an “obvious misstatement.” He said that he intended to urge Toyota owners to take their vehicles to dealers to have them examined and, if necessary, fixed.

I told you so…..

Department of Transportation spokesman Bill Adams said in an email, “The DOT is advising owners of recalled vehicles to contact their local dealerships to arrange for fixes as soon as possible.”

Toyota said on Monday it has the fix for the problem and would begin shipping the new parts to auto dealers. The Japanese auto maker said in a statement on its Web site that it “appreciated” Mr. LaHood’s clarification.

“We want to make sure our customers understand that this situation is rare and generally does not occur suddenly. In the rare instances where it does occur, the vehicle can be controlled with firm and steady application of the brakes,” the statement read. “If you are not experiencing any issues with your pedal, we are confident that your vehicle is safe to drive.”

I told you so…….

Toyota shares had been hovering closer to $75 after the opening bell but started falling more sharply after Mr. LaHood spoke. Some of the decline eased after the clarification; Toyota shares were down about 5.2% at $74.14 in afternoon trading.

Since the recalls were announced, Toyota shares have declined 20%, wiping out more than $30 billion in market capitalization.

I told you so……

February 3, 2010 Posted by | Automobiles, Breaking News, Government, Media, Men, PoliticalDog Calls, The Economy, Updates | , , , , | 2 Comments