Ma Bernacca non aveva detto che poteva fallire ancora una banca ?
Leggasi, "poteva fallire"="abbiamo deciso di fare fallire"
Vabè in attesa del prossimo grosso crack, godiamoci la scivolata di Merdman Sachs sull'olio, non accettata più come controparte affidabile
Goldman slick
Uh oh.
DUBAI/SINGAPORE, Oct 13 (Reuters) -
Goldman Sachs, the biggest oil trader on Wall Street, has been restricted from making a market in price assessment agency Platts’ daily oil trading window as counterparty anxiety grows, two sources familiar with the move said on Monday.
Goldman is the latest in a series of major investment banks to be placed under a so-called ‘review’ by Platts, which has said it may sometimes need to limit the activities of some companies in its half-hour price-discovery process if their acceptability by counterparties threatens to distort benchmark prices.
Worth noting that Platts, which provides benchmark prices for oil and other energy materials, put Lehman Bros. under review in July — some two months before it went bankrupt. It did the same to Morgan Stanley about a month ago. Here’s Platts’ explanation, via Reuters again:
Platts does not have the resources nor the remit to assess a company’s credit status, but says it must respond to changes in the market when faced with issues — including counterparty credit acceptance — that threaten to skew its prices.
So it’s more about other people’s perceptions of Goldman than Platts’ — though that probably doesn’t provide any comfort.
At least the review doesn’t stop Goldman from trading oil, it just reduces the bank’s influence on the benchmark price. No $200 a barrel for a while then. In fact, Goldman lowered its 2009 forecast to $75 a barrel from $110 a barrel this morning, based on economic weakness.