The U.S. Federal Reserve is inquiring into whether Goldman Sachs Group Inc. installed proper safeguards in place as it stepped up its consumer lending in recent years as part of a broad push into the retail banking sectors, The Wall Street Journal reported Friday.
Citing people familiar with the situation, the Journal reported that the Fed is investigating whether Goldman Sachs GS conducted the correct amount of oversight at Marcus, its consumer brand. The reports came a week after Goldman disclosed $2 billion in losses since 2020 in its platform solutions unit, which includes its credit card businesses for Apple Inc. AAPL, 1.89% and General Motors Co. GM, 0.22%, as well as its consumer lending unit GreenSky.
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WSJ News Exclusive | Federal Reserve Probes Goldman Consumer BusinessBreaking: The Federal Reserve is investigating Goldman Sachs over its consumer business, people familiar with the matter say wasnt it one of them 'too big to fail' ones? 'Much of Marcus is being folded into Goldman’s new asset- and wealth-management unit. Some pieces, including its credit-card partnerships with Apple and General Motors Co., as well as specialty lender GreenSky, are moving into a new unit called Platform Solutions' God $GS is having a bad week 🛟 RWMann janewells
Source: WSJ - 🏆 98. / 63 Read more »
Goldman Sachs’ consumer business Marcus facing Fed probe: reportThe probe grew out of a standard Fed review of the business in 2021 and intensified into an investigation last year.
Source: nypost - 🏆 91. / 67 Read more »
Fed's Williams says Fed needs more rate rises to cool inflationFederal Reserve Bank of New York President John Williams said on Thursday the U.S. central bank has more rate hikes ahead and sees signs inflationary pressures might be starting to cool off from torrid levels. 这个人的存在，类似于中国的 专家 Williams is planning g to kill off all small businesses across the nation with his thinking. Can we find a stable person to manage our way our if the stupid unitary voting ti do this in a lame duck session of congress when they new it was wrong to do. What inflation? The non-housing inflation rate has essentially flattened, and the rises seem on both the housing and non-housing rates are exclusively based on over price gouging due to monopolization. Raising rates is solely about manufacting a recession to drive down wages
Source: Reuters - 🏆 2. / 97 Read more »
JPMorgan CEO Jamie Dimon sees 'a lot of underlying inflation,' rates at 6% in a recessionDimon echoes comments by St. Louis Fed President James Bullard about Fed rate hikes potentially surpassing the 5.1% terminal rate set by the Fed in December Simple conman
Source: MarketWatch - 🏆 3. / 97 Read more »
Rep. Goldman: McCarthy may be ‘complicit’ in Santos ‘web of deception’Rep. Dan Goldman on Kevin McCarthy and George Santos: “He has yet to address exactly what lies he knew. And the more he goes on refusing to address this, it leads any logical, rational person to infer that he knew a lot more than he is letting on, and that he may have absolutely been complicit in Santos’ web of deception.” Elizabeth Warren, Blumenthal even Biden embellished themselves with lies and made tons of $$$ ever since . That’s a fact If Kevin Mccarthy is not doing this job clean his house then he should give the speakership to someone else if they went to talk about Biden's classified documents than they need to clean their own home Whataboutism time. Adam Schiff.
Source: MSNBC - 🏆 469. / 51 Read more »
WSJ News Exclusive | Crypto Media Outlet CoinDesk Taps Bankers for Potential SaleCoinDesk, a cryptocurrency-focused media company, has retained investment bankers at Lazard Ltd. to help it explore options including a partial or full sale, according to its chief executive officer Let’s save us all the time and effort and just have all the remaining crypto companies file a joint bankruptcy. Seriously, what a joke these are. . TheOnion is a better news source So when BanklessHQ purchasing CoinDesk 👀
Source: WSJ - 🏆 98. / 63 Read more »