“He’s being a great hypocrite, wouldn’t you think?” Trump said Saturday at a Portsmouth, N.H., rally.
“You know, he talks about he’s going to be Robin Hood, he’s protecting, then it finds out on his personal disclosure form he didn’t disclose that he’s borrowing a lot of money from Goldman Sachs,” he continued.
One of the most important banks in the western world says that the 7th largest economy on the entire planet has entered a full-blown economic depression. Brazil’s economy has now contracted for three quarters in a row, and many analysts believe that things are going to get far worse before they have a chance to get any better. Earlier this year, I warned about “the South American financial crisis of 2015“, and now it is in full swing. The surging U.S. dollar is absolutely crushing emerging markets such as Brazil, and if the Fed raises interest rates this month that is going to make the pain even worse. The global financial system is more interconnected than ever before, and the decisions made by the Federal Reserve truly do have global consequences. So much of the “hot money” that was created by the Fed poured into emerging markets such as Brazil during the good times, but now the process is starting to reverse itself. At this point, it is hard to see how much of South America is going to avoid a complete and total economic disaster.
It is one thing for Michael Snyder from the Economic Collapse Blog to say that the Brazilian economy has entered a “depression”, but it is another thing entirely when Goldman Sachs comes out and publicly says it. The following comes from a Bloomberg article that was just posted entitled “Goldman Warns of Brazil Depression After GDP Plunges Again“…
Goldman Sachs Inc. GS, +1.35% will pay $50 million to the New York State Department of Financial Services after an employee violated New York banking law by stealing and sharing confidential regulatory information. “This case underscores the critical need for financial institutions to put in place strong controls and policies for employee conflicts screening and the use of confidential regulatory information,” Anthony Albanese, acting superintendent of financial services at the NYDFS, said in a statement. Goldman has also agreed to a three-year regulatory consulting abstention and has admitted failure to properly supervise.
http://www.marketwatch.com/story/goldman-sachs-to-pay-50-milion-fine-to-ny-regulator-2015-10-28
Goldman Sachs will hire “several hundred” employees for its Warsaw-based technology and operations units over the next three years, the U.S. bank said on Thursday.
The decision follows moves by Swiss banking giants UBS (UBSN.S) and Credit Suisse (CSGN.VX) to expand their operation centers in Poland, seeking to benefit from the country’s relatively inexpensive and skilled labor force.
“In a strategic decision, the firm will now expand its footprint in Warsaw,” said Goldman Sachs spokesman for central and eastern Europe, Adib Sisani.
“The expansion will be realized in a phased approach over the next three years to an office size of several hundred employees,” he said.
http://www.reuters.com/article/2015/08/27/us-poland-goldman-sachs-workers-idUSKCN0QW0J520150827
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