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Mon Apr 25, 2016, 04:19 PM

 

Goldman Sachs gets caught short, turns to Main Street to fund their money making operation...

Investment-banking powerhouse Goldman Sachs Inc. is doing something that would have been unthinkable before the financial crisis.

The banker to the biggest companies around the world is offering online savings accounts to ordinary Americans with as little as $1 to deposit, as it moves to diversify its funding base and satisfy regulators.

The Federal Deposit Insurance Corp. is scheduled to review new rules on the amount of liquidity lenders are obliged to have on hand at a meeting Tuesday. The net stable funding ratio will require all banks to reduce their reliance on short-term funding that can be volatile, in favor of more stable long-term funding that is more expensive. The new rules are part of a broader effort to prevent a repeat of the 2008 crisis.

In a sign that it is serious about attracting depositors, Goldman is offering a 1.05% annual interest rate on deposits, which is far higher than rates currently available at other big U.S. banks.

http://www.marketwatch.com/story/goldman-sachs-is-doing-something-that-would-have-been-unthinkable-before-2008-2016-04-25

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Reply Goldman Sachs gets caught short, turns to Main Street to fund their money making operation... (Original post)
Human101948 Apr 2016 OP
Jackie Wilson Said Apr 2016 #1
LiberalArkie Apr 2016 #5
merrily Apr 2016 #2
angrychair Apr 2016 #3
think Apr 2016 #4
onecaliberal Apr 2016 #6
WestSeattle2 Apr 2016 #7

Response to Human101948 (Original post)

Mon Apr 25, 2016, 04:21 PM

1. 1.05% is more than the online banks pay. This is going to make things worse in the

long run, they will have everybody's fucking money eventually.

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Response to Jackie Wilson Said (Reply #1)

Mon Apr 25, 2016, 04:30 PM

5. The new law always the FDIC to take all deposits to the banks (savings and checking) to

payback FDIC. The more money that GS has in John Does savings and checking (real money) the less the stock holders have to pay back. It used to be that the depositors money was protected by FDIC. If a FDIC insured bank fails all of its money can be used to pay back its debt.

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Response to Human101948 (Original post)

Mon Apr 25, 2016, 04:22 PM

2. Fsck GS and the horse it rode in on..

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Response to Human101948 (Original post)

Mon Apr 25, 2016, 04:26 PM

3. Not a hard decision

I'd rather eat cat food and live in a cardboard box than give one dime to these assholes.

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Response to Human101948 (Original post)

Mon Apr 25, 2016, 04:29 PM

4. Glass Steagall please....

 

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Response to Human101948 (Original post)

Mon Apr 25, 2016, 05:11 PM

6. Who would possibly be stupid enough to put one red cent into these people?

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Response to Human101948 (Original post)

Mon Apr 25, 2016, 05:14 PM

7. No thanks. Perfectly happy with Boeing Employees Credit Union. They don't screw or steal

from customers. Just sayin'

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