RE: Lloyd’s SP12 Sep 2019 12:40
"So Goldmans Sachs cuts Lloyd’s to a sell with a target of 47p !
I think this is something to worry about because having been to several meetings with GS they always seem to know what’s round the corner ."
The same Goldman Sachs that said buy Vodaphone at £3 less than 2 yrs ago (bumbled along at £1.20-£1.60 ever since) -
also -
From 2005 to 2007, Goldman issued and underwrote many mortgages and securities that had been backed by residential loans borrowed by consumers with shoddy credit ratings. That helped tip the economy into recession after the housing bubble burst in 2007, leading to a tsunami of foreclosures and delinquencies. That caused billions of dollars in losses for investors. The settlement mentioned mortgage loans that had been originated by Countrywide, Fremont, and others. Countrywide was bought by Bank of America is early 2008. Fremont is no longer in business.
Goldman agreed to pay $2.39 billion in civil penalties, and another $1.8 billion in relief in the form of loan forgiveness and financing for affordable housing. An additional $875 million will be paid in cash to resolve claims from other federal and state entities.
Classy company that Doris would love to cosy up to.........