VIDEO: Goldman Under Fire
CNN - January 14, 2010
by Janet Tavakoli

Janet Tavakoli tells CNN Goldman and others created value-destroying securitizations and are trying to pretend they were not responsible for massive systemic risk.

(Eliot Spitzer appears first in this segment. His notion that banks receive taxpayer subsidized money and invest in T-Bills is quaint.)

JT Note: Shareholders should consider protesting high bonuses to the Board of Directors. High bonuses are only made possible through apparent earnings calculated with lax accounting combined with taxpayers’ ongoing subsidies (cheap funding, interest payments, asset purchases, guarantees and more). Not only are more reserves needed, but if taxpayers ever influence Congress enough to demand restitution for subsidies worth far more than the TARP program, banks will need every penny.


Janet Tavakoli is the president of Tavakoli Structured Finance, a Chicago-based firm that provides consulting to financial institutions and institutional investors. Ms. Tavakoli has more than 20 years of experience in senior investment banking positions, trading, structuring and marketing structured financial products. She is a former adjunct professor of derivatives at the University of Chicago's Graduate School of Business. She is the author of: Credit Derivatives & Synthetic Structures (John Wiley & Sons, 1998, 2001), Structured Finance & Collateralized Debt Obligations (John Wiley & Sons, 2008), and
Dear Mr. Buffett: What An Investor Learns 1,269 Miles From Wall Street (John Wiley & Sons January 2009)

Clients of Tavakoli Structured Finance have the benefit of proprietary consultation, which is not available in any other paid or public forum. Clients also commission proprietary research and analysis.

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