Goldman CEO on Bitcoin: “A Vehicle to Perpetrate Fraud”
bloomberg.com
bloomberg.com
"There was little ambiguity about the criminality of Rajaratnam’s intentions. In one tape played at trial, he called a contact and said, “I heard yesterday from somebody who’s on the board of Goldman Sachs that they are going to lose two dollars per share.” Rajaratnam quickly traded his shares, avoiding major losses, thanks to this inside information. Convicted in 2011, he was sentenced to eleven years in prison, and given a ten-million-dollar fine, along with an order to forfeit more than fifty-three million in gains. (Gupta, who was also a board member at Goldman, was later convicted of insider trading as well.)"
Source: 2016 : The Man Who Terrifies Wall Street: https://www.newyorker.com/magazine/2016/05/09/the-man-who-te...
If this isn't a recipe for financial disaster, I don't know what is. When dumb money, fast money, and smart money are all feeding off the same carcass, things will get ugly.
Because here's what happened: "Goldman Says the Bitcoin Haters Just Don’t Get It"
https://www.bloomberg.com/news/articles/2017-11-29/goldman-s...
An employee may or may not be depending on their role and the circumstances. For example, if they are the company's press officer then they will be representing the company's view.
Your link is regarding the view of an analyst who works at Goldman's. Because of the nature of their role, they can and do make statements that are not company policy nor strategy.
As such, of the two, Blankfein's statements will better reflect the official position of Goldman.
Microsoft CEO on Linux: "Microsoft loves Linux"
Just give him time.
Then, Goldman Sachs should not be pontificating about fraud. Remember 2008?
Goldman already has a cryptocurrency patent portfolio and top-notch lobbyists in Washington. I wonder what they're using both for.
If anything, it'll be net positive for Goldman if Bitcoin settles down as a sensible investment vehicle as they can then make fees flogging it.