Why Goldman Sachs Went From Investing For The Rich To Targeting Everyone
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- เผยแพร่เมื่อ 1 พ.ค. 2019
- Goldman Sachs, the Wall Street investment bank, has a storied history. Founded by Marcus Goldman 150 years ago, his son Henry revolutionized the industry with company valuations and IPOs. It was the gold standard in investment banking for decades and partners got rich when the company went public. But the firm's reputation took a beating during the financial crisis, eventually leading to one of the most interesting pivots in Wall Street history.
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How Goldman Sachs Became Wall Street's Most Powerful Investment Bank
What do you think of Goldman Sachs' strategy?
Jellapper Lökkäs
LOL😂😂😂😂
@@Flaakk lol
Its a strategy that worked to say the least however left a stain
Genius
Jellapper Lökkäs
Salty that you are poor
What bothers me about this situation is the fact that the news and media are all going about a recession which is understandable due to the war and pandemic but still the same media still publish articles about folks in the same economy pulling off hefty 6figure profit(Averg. 200k in barely 8weeks) in this downtrend how is that possible?
👏 For CNBC for not having ads every 5 minutes
Chenny Andy whats an ad ?
@@panchitov12 That one thing, ya know?
They own the broadcast no need
@@actualfactual8737 in 🇺🇸 we say u cant beat em join em 👌😎💰
There's ads on TH-cam?
Lynch has mastered what patience looks like. He has stuck to the markets, having a long term view on the markets. This is what I'm struggling to do, trying to learn how to not react to market news about inflation and all. I have currently set aside about $253k to put in the market now that prices are down. Any ideas?
It takes some gut to really remain in the market despite downturns and all. So just find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
I agree. I have pulled in more than $435k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
This is something I've been planning to do for a while now. My portfolio has been falling, and I'm scared, but I know the market always recovers. I wonder if I've been on the right stocks. How do I get in touch with your advisor?
I work with "Helene Claire Johnson". I understand what it's like to see your portfolio going down. I hope the performance improves.
I'm grateful to stumble on this convo. out of curiosity I was able to reach her web page on google and email her. I'm hoping she will respond to me shortly.
I recently found out the real reason why Goldman people go to government. It's because over the many years they have worked at goldman they have built up significant amounts of UNREALISED profits from stock and stock options which is a huge portion of their pay. For the ceo's these unrealised profits are in the hundreds of millions of dollars.
When they realise those gains they would normally have to pay tax on that profit. BUT US law says that when you go into government you have to sell any shares that you have of publically traded companies etc because of conflict of interest. The key is that you are forced to sell your shares but it is TAX FREE if you do it because of going to government. This has probably saved these goldman people billions of dollars in tax deductions collectively.
Thank you for this. I am now going to build a portfolio of investments with massive unrealized gains, and then run for mayor or something.
Millions in tax savings!!! Yes!!!
Thanks for sharing. ..had no idea...so thats why most of the treasury secretaries are from GS 😂😂😅😆
Jesus Christ
@@menthy That only works with the federal gov't. State gov'ts don't have such sweetheart ethics deals. If you go to work for a state government, you won't get a federal tax write-off and in most cases, neither will you get a state tax writeoff.
That's actually really smart
“Goldman Sachs is going from caviar to cheeseburgers.” Thank you for that analogy Mr. Mike Mayo.
Haha! The Ted Cruz school of food based analogies.
@@actualfactual8737 Rant about that, they don't care, the make 50 times your salary if not more
@@simonwilson7581 lol:)
Can i put mayo on cheeseburger?
@@sammagid8030 It's your burger, put what you like on it.
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing!
Very inspiring! I love this.
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.?
@@raychristopher7797 I invest across the top markets but not by myself though. I follow the guidelines of *PRISCILLA DIANE AIVAZIAN* . you might have heard of her. I can correctly say she's worth her salt as an investment advisor as her diversification skills is top-notch, I say this because I see that in her results as my portfolio grows by averages of 20 to 3O% every month, unlike I can say for my IRA which has just been trudging along. my portfolio just mirrors what she places and not just on some particular industries of my choosing. she gave me that financial freedom I needed
@@harrisonmichael5047 That’s great, your investment advisor must be really good, I have seen testimonies of people using the help of investment advisors in making them more financially stable. Do you mind sharing more info on this person?
@@raychristopher7797 look her up on the internet with her name. she's quite popular for her services as she was recently featured on
CNN. She can work with anyone irrespective of where you're located
@@harrisonmichael5047 I just looked up this person out of curiosity; surprisingly, she seems proficient. I thought this was just some overrated BS, I appreciate this.
Ahh yes, the 3 groups of people in the world: Millionaires, Billionaires, and Me the consumer.
lol
You sound like you’re front the left
wow
@@jereflechis4014 pretty true, if you are educated in basic money and economics your not going to be a consumer
@@jasperbudiono295 Incredibly stupid and untrue
CNBC the real goats for all these informative types of videos recently. Y'all hold this W
True CNBC doing good things
Idk if they Realise how important this Comment really is. It should be Pinned.....
KYB I noticed they changed a lot recently. Now they’re making educational videos that matters to the American people instead of the garbage political videos they were making. Great job CNBC.
Look all of them no work, just sit
Bald and fat, thats what they do and you know about that
They always give theori and not work, never saw them with worker, they want easy get money
Never built anything just sit and roll they money and next time they withdraw with huge invest.
Thats what they do, never saw real estate just roll money soo unrealistic theori idiot
This is not an educational video. It's an advertisement for Goldman Sachs.
CNBC been uploading banger after banger. I’m liking this content!
which are your favorites? Suggest please
Bethlem RomulusDaas Amazon paid zero federal tax
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Letting Goldman Sachs play with depository accounts is like letting the foxes into the hen house. Kiss your chickens goodbye! ROTFL
Do I really have to kiss my chickens? :(
Or just keep your balance under $250k.
That was what Glass-Steagall was for.
I wish they were responsible for my bank deposits.
Love the part about making money from a fine. Classic
One of the conditions for being CEO is that you must be bald or balding. It's naturally the price of doing God's work.
Combing hair is not a profitable activity. These CEO's understand that. Much better to make billions than waste time combing hair.
William Smith it comes with age the average ceo is about 50
Make pattern baldness makes you more mature and smart
William Smith Its true. Alpha male personalities that take risks tend to have higher testosterone and thus DHT. Testosterone levels society wide have been plummeting in the last few decades. This is part of the reason why male pattern baldness isnt as seen in the general populace anymore. Lots of theories as to why the drop, but could be xenoestrogens in the water and food supply from plastics etc. Used to be (when men were men) upto like the mid 80s, MBP went part and parcel with aging. it was basically par for the course for a majority of men.
552mustang no facts to back this up but I want to believe it’s true
This should be called "How the banking sector owns Governments"
This should be called "How the banking sector owns Governments"
@@guruspubichairvery original!
China is the other way around.. think that's better?
@@cc23001 Wuma
They don't own it, just influence it, and since 2008 they've lost a lot of influence
Man. These videos are actually really well done. I’m impressed!
Loving these CNBC documentaries.
Where can I find more like this one?
Interestingly, after the Bailout and Recession, Lloyd and his friend Jamie Dimon, went from Millionaires to Billionaires. Doing God's work, of course.
Honestly, I hate banks, I don't want to give names of the ones I have used. However, I started with a small bank and they sucked because they never worked. I used a big bank and they have tons of fees. There is no winning as a consumer. Unless you have money of course. Sadly you need banks to get paid no one pays cash. I hope one day we can get paid in cryptocurrency to avoid the bureaucracy of it all.
Lmaoooo
You know that Jamie Dimons bank didn't need or want the bailouts? And also paid them back with interest to the government?
Loan me the money and I will pay it back also.
@@dennisp8520 credit unions are the best way so far.
The Goldman Sachs Ideology:
When life gives you lemons, turn them into GOLDEN Lemons!!!!
Yes, for Goldman Sachs? Not necessarily other investors as the primary goal?
More like when life gives you lemons loan those lemons out to your neighbour for exorbitant interest fee then funnel the money back to israel
worked in their tech division for a few years, actually started my graduate job there the day Lehman Brothers went down.. Have to say great firm, fantastic people... What people keep forgetting is that GS was probably the only big IB that did not require a bailout but was forced to accept one along with the others to stabilize the markets.. They were fantastic risk managers and had already taken a calculated bet against the mortgage markets, the crisis wouldn't have happened if only other banks were that diligent..
Goldman received a $10B funds from the Government as part of the TARP, it was not forced to accept any of it, and yes, it did get bailed out, so even though you are here telling us your narrative, that does not make it true. They received these funds from taxpayers pockets as a relief to prevent a systemic financial crisis that they had created, along with other big financial institutions, by committing financial fraud for years and getting rich by defrauding their clients; no one of these principal actors went to jail, instead, part of the relief funds went straight in their pockets as bonuses...
@@klintsheganaku913 Paulson literally forced to take the funds? Ha.. cute argument though
So does JP Morgan, they didn't need any bailout either
Ah yes, such an ethical firm that they made half a billion bankrupting Greece.
@@oneeWho cares about Greece
Legend has it that Goldman sachs is still alive today.
@@actualfactual8737 what if this thing was actually one of the reasons why hitler caused holocaust back then ?
@@actualfactual8737 Very true, but Just like the Medical I formation we got From Nazi Germany it's a Vital part of the Modern Day.......
Goldman Sachs isn't a person...
“Goldman Sachs is going from caviar to cheeseburgers.” Thank you for that analogy Mr. Mike Mayo.
I sure hope he's with devil trying to steel
I love all CNBC's videos about banks. Please keep them coming!
loved the looks CEO of Goldman's was getting when recommending the bail out, says more than words can!!!
I love these CNBC documentaries
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Goldman Sachs #1. The most hated bailout that worked.
Key word: it worked. But no one seems to get that
Ya man it seem like every one hates the bailout but it did work. I read "Firefighting The financial crisis and its lessons" which was written by a financial advisor under bush, one under obama and another independent and it was pretty interesting. Would Recommend.
The closing line of these video is fire. These guys are truly the smartest guys in the room.
The CEO is a part time DJ. My Fav.
Welcome to the World of Banking, where you can turn a fine into a Profit 😂
paid 7 billion in fines, which 1 billion was in crappy mortgages, which 70% of that billion was to consumer relief. yeah so great world of banking
It wasn't a fine. It was a required investment. So its pretty clear how you can make a profit off it.
Lol even if you hate them come on now, we have to give them fellas some credit, they're damn smart😂😂
Why should they have been fined? They made a risky bet and won. The people that should be fined are the people making a risky bet and know that they're too big to fail.
Greed, Greed
Goldman’s CEO DJ’ing just makes me think he’s the business equivalent of Amy Poehler’s “cool mom” in Mean Girls.
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How can I get started earning from bitcoin
I don’t think it’s easy to get a legit manager at this time
When Hank Paulson became Treasury Sec., he was able to cash in on his GS equity w/o having to pay tax.
Yes and Gary Cohn did the same after leaving GS and working as Trump’s Chief Economic Advisor. I think he capitalized on both opps by paying low/no taxes and leaving the Trump Admin when he did...👀🤑
That rise from 2008 during the crash to 2009 with the big hike in that net income chart is your bailout tax money people.
This was serious quality.
CNBC is doing really great. I'm loving it.
The background music is killing it, just like Goldman!
"To Targeting Congress, The Treasury, and No-Strings-Attached Backdoor Bailouts". There, I fixed it for you.
George Janeiro no-strings-attaches bailouts? They paid back the entire sum with interest. It wasn’t just a free handout
@@kfcthanksgiving Every bankster apologists' go-to response: "but they paid it back, with interest!" A) they never "paid back" the damage they did to tens of millions of Americans; B) the interest should have been 30-40 points higher; and C) there's no way to pay back the future damage from the moral hazard of letting the banksters know they'll always be bailed out.
The bailout was a loan meaning they had to pay interest back which they did. There weren’t no strings.
@@dylanf3108 yeah, it was a loan, which is why they called it a loan, oh, wait, nooo, they called it a BAILOUT, because we bailed out bankrupt banksters.
How come they don't teach these classes in High School???
Cux they want to keep u poor. But us up to u to be more like a lion.
This is great, CNBC is the only place that provides a true and detailed history of companies like this one. Anywhere else, the story of the company is manipulated to support a point of view.
en.m.wikipedia.org/wiki/CNBC
Oh wow blindly following an MSM ? You can always do better
Criteria for CEO of Goldman Sachs:
Don't have hair on your head.
That's racist!
That's Hairist
@@aadhithanu9070 lol
Gary Cohan went from Gold to Bald in just a few years
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How trading division made money during the crisis? As the story goes from TH-cam documentaries and the big short movie.... Derivatives, in English, bets. They made bets at the 10th hour that the housing market would crumble, repackaged & sold investments that they had on hand linked to the housing market to unwitting clients, and then what they couldnt sell...
Well they had AIG insure the downside of the investments left which were linked to the housing market, and when it crumbled, they made a killing.
Meanwhile clients who bought advice from them were advised to do the opposite... and obviously they charged the clients for that advice.
There's a reason why Matt Taibibi called them a Vampire Squid.
Jay K you are aware that many big investors didn’t know that the bonds were bad there was only a handful of people who knew about that
Thing is, I'm not sold on the idea that a handful of people caused the markets to inflate with nothing. Even though the fact that ratings agencies gave stellar ratings on these products, which is VERY suspicious... I think we should also consider 1. greed/desperation and 2. group psychology of investors.
1. Many people who end up with nothing in pyramid schemes are not clueless about the fact that they could lose everything, they are well aware that it is too good to be true, they can tell you exactly what the sales man said the first time that sounded like flying cows. But out of desperation or greed, they join anyway. It's like when the sales man says high risk, high reward, the former falls on deaf ears.
2. I think investors bought into the property gospel, the you can never go wrong with X type of financial religion, to that effect, wilful mass ignorance, I can believe that they chose not to know.
but then, those are my thoughts.
Jay K the Great Depression was followed by a great increase in monetary supply by the federal reserve. Of course everyone is going to make bad and riskier investments, the whole market is distorted.
Satan is the one who would charge you for buying AND selling.
THAT BEAT IN THE BEGINNING GOES HARD!!!!!
Great video, very clear and doesn't seem biased
1:09 "Vampire Squid" is the handle Matt Taibbi gave them in his Rolling Stone article. It's a good read, I recommend
Pure Evil. Just watch for GSCO on your level II screen and you can observe them doing evil things.
Jail everyone there and break it into a dozen new banks.
Put some REAL rules in place, and actually ENFORCE them.
No more slap on the wrist fines, imprison those in charge.
I pounder on how my retirement will be and don’t actually know what’s best to go into right now that will be very profitable for me from the comfort of my home
I will advice you go into forex investment that’s the only secured investment I can advice anyone to go into right now speaking from my past experience
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This man must be as good as they say everything in life deserves a try ,is there a possible to get in contact with ?
Success is not final; failure is not fatal: it is the courage to continue that counts. Business opportunities are like buses, there’s always another one coming.
Truth, it is really profitable as an investment.
It’s fortunate that many of us are still confused about crypto currency while others are busy earning from it
@@elijahisabella6781 Is never stressful when you're guided by a pro
I remember friends calling me crazy when I started investing in bitcoin now I shut them up with my 4 figures weekly returns.
Thanks so much to Ma'am Diana Lucy for introducing and making me believe in crypto
The CEO is a part time Dj🤣
1:07 I can't believe they are eating caviar with a metal spoon. Philistines.
Thanks for reminding me how poor i am not to even know there are caviar spoons for that
Investment is the stepping stones for success. Waiting for the government to provide is total waste
Miss Anna is legit and her method works like magic I keep on earning every single week with her new strategy..
Miss Anna have been handling my account for years now..
Really interesting journey of GS. Curious to know about its future path.
And that's why Apple choose them for Apple Card
I just applied for it today and got a $7,000 credit limit and I'm still in college lmao.
@@johnmoore1495 Awesome. Goldman sachs loves you for giving them your money.
aleydrus I barely use my cards. I just keep opening them up so later down the road I have a long credit history.
John Moore Smart
John Moore $7,000 for limit in college, you probably got some loaded parents co-signing you.
These "people" have the entire US finance system in their hands.
And Europe and about 40 countries too !
That's why you folks should be supporting communism
@@funnyhomemadefilms4145 national socialism
They constantly send me offers thats like 2-3 times the rate of most personal loan offers I get. 😂🤷🏻♂️
Very informative, thank you
From Investment Banking to Retail Banking. A true diversification
PhDs we locked in a cage somewhere 😂
It's funny because it's an oxymoron. Goldman is known for being "the smartest shop on the block" and having the most competitive talents and minds under it's wing. It's like Einstein saying "yeah I just beat up some nerd to discover E=MC squared"
Thank you for sharing.
7:42 Might want to charge your phone
When I see the thumbnail of CNBC, I always think it's Huawei. You guys are really competing on brand recognition with that logo.
It's been NBC's logo since before Huawei was a company.
@@Rakion09214 I know that's why it's interesting to see my friends and myself to associate that logo with another company more often recently.
up with you!
@@sejungsong Well, no American is gonna associate the logo with Huawei. NBC is many times older than Huawei and I highly doubt NBC worries about logo recognition in its news market.
Thanks for the comments! don't forget to hit the subscribe button
+1>9>37>9>30>5
WASP
Please do another video on Citibank or Morgan Stanley.
th-cam.com/video/sMG1nlQi5bg/w-d-xo.html ,
Great way to do a story about Goldman Sachs by CNBC.
“Too big to fail” describes GS’s bonus scheme!
Now do a video on JP Morgan chase
th-cam.com/video/6Rb2TsOm3Kw/w-d-xo.html They did that already
Also a video of blackrock
Aakash Bose J.P. Morgan is a good bank
@@yugiohpokemon5285 no such thing as a good bank
RONNYfromOZ so where would you get a loan for a business?
It's Sue Herrera from Nightly Business Report at 9:49 :-) I love her and Bill and NBR :-)
Happy new year!
A DJ CEO, that alone makes me want to run away from doing any business.
How appropriate that there is a gangsta rap beat to introduce GS in this video. Because everyone know Goldman is gangsta.
Risk Management is a global pre-need and synergistic reality ... to everyone in business ❤️👍🏼
Mike Mayo talking about cheese burgers, i love this
I'm not going to say what I think about every video (that y'all are great); instead, I'm going to say that CNBC is staying true to their viewers. What do I mean that? I use to watch Business Insider for their reports on businesses and random topics they deemed were popular for the new population on TH-cam. However, they have slowly transitioned away from good content to clickbait, which they are great at. Nevertheless, CNBC is staying true to its brand and providing us with great reports on companies and current events. Props to the team that does TH-cam videos. I can't wait to watch and learn more.
Bloomberg has been putting out great content check them out
Thanks for the comments! don't forget to hit the subscribe button
+1>9>37>9>30>5
WASP
I feel a bit smarter now bout bankings. Thanks
awesome quality content cnbc
Thank you
I love the punishment 18:44 , its like "Timmy, go to your room.." when that's where all Timmy's toys are.
It's still kinda funny how Goldman has maintained the image of having the most successful traders when the numbers clearly don't support this statement.
I’m locked in on some CD’s with Goldman Sachs.
Very easy to use and has been a good bank for me so far, and I’m not rich (yet)
I appreciate you sharing your knowledge about history and genealogy. When I do genealogy research it gives me perspective on what my Dad, Fred White lived through and how my life has been a lot easier than my Dad Fred's life was in the 1920s and 1930s and 1940s, and 1950s. When I do genealogy research it improves mental health because it develops how I think. When I read and learn about World War 2 and what it was like before they had public assistance, it changes the way that I think. The government created public assistance which is food stamps and HEAP and cash assistance and SSI in about 1976 which means that my Dad Fred and my grandparents did not have public assistance because public assistance did not exist in the 1920s and 1930s and 1940s and 1950s and 1960s.
Some of my Dad Fred White's family members died in the Holocaust in Europe
1:15 this dude just called me cheeseburger and im not offended
Apple card: "Variable APRs range from 13.24% to 24.24% based on creditworthiness." Didn't realize that running a credit on a credit card was that expensive. Think I will continue to pay everything in full every month.
There's no interest of you pay your bill on time.
So incredible!!
Marcus Goldman was born Mark Goldmann ] His family was Ashkenazi Jewish. His paternal grandfather was called Jonathan Marx
I think this is probably one of CNBC's most important case studies. While we fight over "ideologies," Goldman uses their skill set to grow their power and influence to sectors outside their field to better suit their agenda. As they've demonstrated, they hedge their bets by playing to BOTH sides of the political spectrum and ALWAYS PROFIT as a result. They are the definition of "exploit any and every opportunity to the fullest." All the while passing on their losses to those who aren't in their inner circle. They are also the poster child of how decrepit society in the world as a whole is. They lie to their customers about their "product" and quality, become a key figure in various economies as well as big players, rewriting the laws to their own favor while MOSTLY remaining secretive and out of the public's eye, all the while destroying the average person and their families from a direct or indirect result of their actions. Ironically it sounds like I'm describing the illegal drug trade. Only difference is that one faction is paranoid about being destroyed at any given moment while the other makes sure the predators are always on they're side.
I don't see how that could change tbh. A group that holds access to the biggest source of capital will always be able to exert a disproportionate influence on government, and I doubt anything will change that. All you really can do is to try to prevent yourself from being caught up in it.
@@shawnjavery electing more oversight, making laws that prohibit people to go into office from the private financial sector due to conflict of interest are just some of the was we can move in the direction in which we move away from Goldman. I know it sounds like a long shot and a fantasy but keep in mind that when we give up, greed wins.
@@samuelmitchell5937 they would get puppets, sth never changes
The CNBC logo is like Huawei logo.
Thanks so much
Very informative
They are from Bavaria? That’s what I guessed with that names. Goldmann und Sachs. 🤔 Incredible there were two wars between the countries.
I didn’t know GS invented the concept of net present value
21:10 why is Deutche even on there? Haha
3:52 Joined as an assistant janitor. That promotional ladder though.
Got those gains bro 😂😂😂😂
My very first credit card I got two years ago was from Goldman Sachs, via Apple. And I love it. So damn convenience to never have to carry a wallet ever again. My Apple card is still in the case it came in.
"To forget would be not only dangerous but offensive; to forget the dead would be akin to killing them a second time." -Elie Wiesel
Yom HaShoah begins at sundown tonight. Please join me in pausing and remembering the six million Jewish lives lost during the Holocaust. Let us honor their memory and keep them in our hearts.
#NeverForget #NeverAgain
Some of my Dad Fred White's family members died in the Holocaust in Europe
When I know about what my Dad Fred White has lived through in the 1920s and 1930s and 1940s and 1950s and 1960s it gives me a different perspective and I realize how much easier my life is compared to what my Dad Fred White lived through
This video is so inspiring!
this is what happens when you complicate things to cheat people
CNBC the best👍
9:44 - check out the ashtray full of cigs on the office desk, lol!
they are the smartest guys in the room. don’t play with 🔥
Can you guys do one on BlackRock?
I loved the intro
And
This is not my first time
11:29 and 11:49 Steve Mnuchin alway with the villainous smirk.
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Most intelligent words I've heard.
Crypto is the new gold
I wanted to trade Crypto but got discouraged by the fluctuations in price
@prosper That won't bother you if you trade with a professional like Mr Barry Silbert