BUSINESS VERSUS Goldman Attack

The Many Possible Charges

Hong Kong Business Competition may be bad indeed. In just a matter of days, even hours, news of Goldman Sachss getting demands from the U.S. capital market watchdog, its competitors try to twisted bank with the biggest gains in Wall Street.

The bankers lobbied on bnak's executive orders, the Agricultural Bank of China and urged officials in Beijing to cancel the role of underwriter Goldman as shares of initial public oversight (IPO) which is prepared by the bank. The IPO valued at more than 20 billion U.S. dollars. Said a source who knows the deal in Hong Kong.Bankers competitors also asked government officials at the Bank of Communications Banks to leave Goldman as coordinator offering new shares (rights issues) worth 1.6 billion U.S. dollars. China's fifth largest bank was prepared to do the right issue at the Hong Kong stock market.

Both banks are not commenting about it. Goldman was also silent when it was confirmed about it. competitors were aware that in china, the background of an organization can mean everything. what happened to Goldman could make it drowning. in the meantime, Paulson & Co.. hedge funds associated with derivative products Goldman, explaining to customers about their role in derivative products. Paulson said in a press conference, no one else in the company that has received a notice that called Well and indicates there will be demands that are put to the hedge funds. They also mengakatan, no one had an interesting customer funds on their investments. Total funds under management at hedge funds handle the number of 32 billion U.S. dollars. "We wanted to know if anyone was out of Paulson. So far no one who stepped down seorng customers," said one customer. One, a spokesman for Paulson & Co. that Profit 15 billion U.S. dollars for having predicted the housing market will collapse not want to comment anything about it.

British demands 

England finally demanded Goldman associated with allegations provided by the capital market watchdog As (SEC) that Goldman had to deceive investors. However, the bank states do not do anything wrong, but it still will cooperate with authorities. Several hours after the demands of the London stock exchange authorities english Financial Services (FSA) was accepted Goldman, the bank announced a profit of 3:46 billion U.S. dollars, almost double from last year's acquisition. Both the FSA and the SEC was concerned for a very complex investment instruments and trading positions related to high-risk assets in the U.S.."After the initial investigation, the FSA has decided to give formal endorsement of the SEC investigation against Goldman," declared the British stock exchange regulators. "FSA will be watching closely on this with the SEC," the FSA said in a statement. Goldman has 5500 employees in London said it would cooperate with British stock exchange authorities. In his written statement. Goldman stated, "We believe the SEC's allegations are not based on law and fact. We also want to cooperate with the FSA."

British interest in the case of Royal Bank of Scotland (RBS). RBS paid an amount of 841 million U.S. dollars to Goldman in 2007 to strengthen its position in the Dutch took over ABN Amro. The possibility that RBS can get back some money from Goldman to help increase the price of bank shares held by pemerinntah. RBS shares rose to 2.8 percent in trading yesterday. British Government has a 84 percent stake in RBS which had nearly bankrupt. UK Business Minister Peter Mendelson said that "we should look at the whole system and banking regulation. We need a system that imposes taxes that apply to banks internationally," he said on BBC radio. Nick Clegg Liberal Democrat leader, the third largest party in the UK, said: "The claim is a warning. I believe that Goldman Sachs must be stopped temporarily as an advisor to the government until all the allegations and the case is seen clearly." In addition to the FSA, insurance company AIG and the German Bank IKB also is studying whether they will sue Goldman. Fabrice Tourre, Vice President of Goldman, called the SEC charges, promoted and moved to a branch of Goldman in London. later he was appointed director of Goldman Sachs International in late 2008.