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"marcus goldman" Discussed on FinTech Insider

FinTech Insider

03:25 min | 11 months ago

"marcus goldman" Discussed on FinTech Insider

"Financial services in how banking is being broke confer. It just looks like european fintech. My doesn't it so. I'm not sure if that necessarily lead to him. Leaving apple probably should've done that was one of the things actually when they first to reveal l. a. bit more about the card. It was like oh god. You're gonna get spending. Insights color coded categories that everyone in europe like this is not new. I was sitting with jason jason bates. Ah timing news like yeah like it's the only time i've felt smarter than jonny on which was good. I think they will be stumbling block just because the u._s. is is not contactless friendly yet and if you're trying to convince people to use apple pay places they can't use apple pay will then immediately customers are going to be like well. I've got this new production. You're promising me great cashback. I back icon actually use it anywhere. So what uses it takes seven days apparently still so you have to go to the underlying came out in the desert does big risk for apple in that because when you just look at what apple has done before with with their control freakish about a product so that they wanted to control everything then of the price about now now only a small part of the thing especially. The name is on the apple. The rest is into design. Maybe the rest is is somebody else where their whole customer experience might go. Oh quite wrong and as you said before this in this comes back to apple and nobody is saying this is goldman this somebody else it is at the end of the day. It's an apple card image. Something goes wrong. It will always come down to apple so i think said we see a seismic shift here in in how they look at products and penta people care pinta goes wrong. They don't care about like the underlying supplies. I've just done that for my life. I can tell you that free apple has the same problem. No one will care all boost. The role of good goldman here is interesting because i think we will go experience of big banks and house lived the they they can operate but if goldman behind the scenes emerging apple credit card data eighty two with marcus data some leave high interest savings with credit card data and then it's not that much of a leap into something like long term investments and so i think that's an interesting interesting from goldman sachs but not not much publicity for them but they're not using the data selling the data. Actually this is this is the benefit of the marcus platform. Essentially you know the it says goldman sachs in some ways marcus goldman sachs but this is essentially the marcus platform being being exposed through a j._v. with somebody else. I think they really interesting for to your point branding. I mean actually i mean credit cards lead to people getting into debts. It's like this isn't eventuality of this. Because i mean shiny aluminium. Things cost a lot of money right say like how do you think the apple brand will take basically being the sort sort of gateway drug into two deck for many people tearing this around. I mean probably just fine pressure kind of seeing it a little bit outside of apple book with clone on his entry to the u._s. because they've gone big marketing campaign with using influences and trying to get young people of any kind of shape and form into using saying something respectively interest payments but then can give you a really big interest rate. If you don't make the payment without much forethought into who were they actually targeting targeting because if you choose an influence or you've got no control over that audience that could be a lot of people in there who walk very fiscally responsible vulnerable that receiving this information then thinking oh great new your product i can use and when you get.

apple goldman sachs goldman marcus goldman sachs jason jason bates europe jonny l. seven days
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:37 min | 1 year ago

"marcus goldman" Discussed on Bloomberg Radio New York

"By Goldman Sachs presents personal Marcus by. Goldman Sachs is supposed to be Goldman's move into offering banking and personal longs to two slugs like media Peggy. That's right. John and here to tell us about this. No, you're very fast paced Johnson. But Goldman is getting even faster pace with its digital Bank called Marcus and here to tell us more about how they're doing that is sheet hard Nadarajah. And he's our Bloomberg news crackerjack finance reporter in New York SRI. So first off tell us, what is Marcus do understand what this is all about it is essentially remarkable pivot foreign old institution for someone like Goldman. It's a change from the very fabric of it's being this firm for most of its hundred and fifty years is used to dealing with the major corporations the massive investment firms hedge funds and now it wants to turn its attention to mainstream. That's a big step away from what they're known for and Marcus is a key pillar of that Marcus is sort of their face to main street. It's not even call. Goldman Sachs is Mark as it's a happier nicer brand that goes out and try stall person loans, deposits and. Whole lot of other things down the road. And they wanna make it a key component of their business going forward over the next thirty fifty years. So what are they doing with Marcus at this point that they're changing it to a different unit to different people are going to be in charge? What's behind that? And what's the big deal? Well, golden as structures always used to it through weird wonky acronyms and various division. So for the longest time. It had four main pillars. Right. It's investment banking division the trading division. It's most merchant Bank. And then there was the investment management division in for one people thought in the last couple of years is Marcus too cold that it would be a fifth pillar on its own it. It was called sort of this consumer and commercial banking division. But in the last month, or so you've you've seen a big management change at the top with the new CEO coming in David Solomon who started as the chief executive of the start of the month. He took over. And then the person who was running the division was kicked up. Stairs to the C suite. So what they've done use that as an opportunity to take their entire Marcus effort to take their entire digital banking effort and folded into their wealth management group that is their excuse to take away that business which for years has been used to court your folks on Park Avenue and the Hamptons in the Swiss out, the non slugs, the non exactly and now donate do regular people across the country and hopefully across the world for them. Okay. But how much of a challenge is this for Goldman Sachs. I mean, they were one of the firms coming out of the financial crisis. That was arguably most vilified in the eyes of so called mainstream investors. So how are they actually trying to reach mean street? Well for one you're not getting loans by Goldman Sachs are getting loans from Marcus a happy entity. It is a bit of a challenge. But like all things public memory fades no-one's really looking at ten years past the crisis. You could argue that Komen's not seen as the villain as it used to be in there clearly making a big makeover them having said that it is going to be a challenge not just from a branding perspective. But also from the competitive landscape, their whole argument is look we we not a legacy Bank. We don't have these brick and mortar places we can just go online show, you these ends offer you these loans, but there are many other people who can offer the same things. So the competitive landscape is what is going to prove for them to be the biggest challenge. And now you have Buckley's saying that it will come to the US and its own digital Bank. And I would say Barclays is arguably a much more well known retail Bank, even though it's a UK entity. So the challenge is going to be the competitive, landscaping, not so much the branding. What's what are the potential payoffs and the potential risks for Goldman Sachs in terms of? Potential payoffs in many ways, look at it thirty years ago, they didn't even have this wealth management asset management division today. And I have some numbers with me today that division is about twenty percent of their revenue growth that's about six billion dollars from hardly anything couple of decades ago. Clearly, they made a big progress, and that's steady stable revenue. Unlike investment banking, that's probably tied to capital markets or training that could be very dependent on hits or misses all regulatory pressures. This is stable source of revenue cheese from clients on an annual basis or something like that sort exactly. So if you can build it out aching obviously become a very strong pillar of a very stable it sets a base for institution that allows it to flourish and expand look at it this way, you you have Goldman that's now going out and making personal loans. Do people who might not have the best credit ratings out there. Do they have the experience there? Arguably the best risk managers on Wall Street, but that's very different from offering loans. Do retired teachers in Nevada or. Mechanics in Texas or any any other place, you you're dealing with a very different set. How will the face to that challenge ramping up at a time when we are in the late late stages of a credit cycle that there will be a challenge. But their their point is that's up and down of a cycle that you'll always get what they want to do is build something over the next twenty thirty years, and they're hopeful even if they have any sort of small obstacles of setbacks to start with that's not going to deter them from their long-term pop and who's their target customer here. Are they going for the baby boomers who actually have the most money and are rolling into retirement with it? Or are they going after the millennials in the hopes that one day, they'll have more money everyone? Everyone who wasn't a Goldman Sachs client that is everyone who wasn't a big corporation, everyone who's not your massive. The wealth manager with the hundred million dollar trust fund, CTO, Google, employees. It's your Bloomberg employees. Or an employee anyone in anyone in this country who has some money to spend who has who wants to get some financial savvy. They're willing to offer them an opportunity by saying they can provide these products without really having to put up some massive upfront cost to service them because this is not a. Hey. No branches robot visors apps for financial planning the kind of stuff that doesn't require a huge affirmed costs, but could have some benefits down the road. And once you once you real them in then you could offer them variety of products. Where did this name come from Marcus, Marcus, Goldman, the gentleman who started Goldman Sachs in eighteen sixty nine? Sack spot of the name is his son-in-law. And I don't want to be quoted on this. But. Coast to coast here, which is I believe Samuel Sachs or Walter sacks. One of them was the son-in-law, so Marcus Goldman and son-in-law Mr. sex would original Goldman Sachs. Thank you so much for your terrific story this week about how Goldman is moving its digital Bank, aka Marcus into its wealth unit as it expands, and that's Shreedhar Nadarajah on Bloomberg. News finance reporter in New York. And just ahead on Bloomberg finance.

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"marcus goldman" Discussed on 760 KFMB Radio

760 KFMB Radio

01:57 min | 1 year ago

"marcus goldman" Discussed on 760 KFMB Radio

"What I I have like to keep with the calm. autozone. Rewards program. You'll earn a twenty What dollar reward. Every time you spend twenty what bucks or were more you five saying times. about the goblet It's just why one more it has way to no get curse more done. a Getting magic? your engine top I just shape made starts that story with getting up. oil and filters changed regularly. So come right now to autozone. And take advantage You of our great mean, deals of on course, oil change I specials. bought the goblet Visit in an any antique of our fifty shop. five As a hundred matter of locations fact, I have a whole nationwide. set of them. And let us do more for you. See Punches terms hammered zone away dot com in my slash head. rewards. Restrictions and details the store. Uncontrollable anger seized me or it because precious fingerprints We see wiped every out day because I they cut believed you off. in the government myself. And they take you off I don't know. it's called road I rage. only know that I had to But fight they're not natty to keep you. from grabbing him. They're mad the overpaid You on a used know? car I because don't they think didn't go you're to telling Carfax me everything, dot com. you know, about this horrible business. Hobby. Carfax In fact, has a better way. wave When tanglewood, you search used cars I at don't Carfax remember, dot exactly. com. You get the most accurate price Oh. based on the Carfax report. Me. So you never have to overpay on a used car again. Start your used car. Search today at Carfax dot com. Thing you see Office to embrace. body assigned to now. Com. And gerald. Kalisa Aaron This. Hey, I have we. to hurry. I. We've. We've been Alexa, play Arianna Guerande. Okay. No. Some of the broken fragments still With veteran. Amazon music. Crush A voice is all them. you need tens of millions of songs. Download the Amazon music app today The credit card debt pieces. with a personal loan for Marcus, Goldman Sachs when Hiding you have a from family me. life adds up a new semester But I of find. school a new season on the Team New goalie pads to go with it. Now, your youngest wants to learn an instrument, and of course, she didn't pick the harmonica. Bodies like Dead huddled happens. on the floor. It's how you Madman get out to Kaos. pushing the fragments of the Get broken a personal loan for powder Marcus. Goldman as a Sachs police car drives fixed up interest the rates club spikes, fees twelve and ever. far. Learn more, Marcus dot com. Your brain is an amazing thing. But as you.

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"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:42 min | 1 year ago

"marcus goldman" Discussed on Bloomberg Radio New York

"Be Goldman's move into offering banking and personal loans to two slugs like media Peggy. That's right. John and here to tell us about this. No, you're very fast paced Josse, but Goldman is getting even faster pace with its digital Bank called Marcus and here to tell us more about how they're doing that is she'd hard Nadarajah and he's our Bloomberg news crackerjack finance reporter in New York SRI. So first off tell us, what is Marcus do understand what this is all about it is essentially remarkable vivid foreign old institution for someone like Goldman. It's changed from the very fabric of it's being this firm for most of its hundred and fifty years is used to dealing with the major corporations the massive investment firms hedge funds and now it wants to turn its attention to mainstream. That's a big step away from what they're known for and Marcus is a key pillar of that Marcus is sort of their face to main street. It's not even called Goldman Sachs is Mark as it's a happier nicer brand that goes out and try stall for you person loans, deposits and. Whole lot of other things down the road. And they wanna make it a key component of their business going forward over the next thirty fifty years. So what are they doing with Marcus at this point that they're changing it to a different unit to different people are going to be in charge? What's behind that? And what's the big deal? Well, golden structures always used to weird wonky acronyms and various division. So for the longest time. It had four main pillars. Right. It's investment banking division the trading division. It's most much in Bank. And then there was the investment management division. And for why people thought in the last couple of years is Marcus too cold that it would be fifth built on its own it it was called sort of this consumer and commercial banking division. But in the last month, or so you've you've seen a big management change at the top with the new CEO coming in David Solomon who started as the chief executive at the start of the month. He took over and then the person who was running the division was kicked up. Stairs to the C suite. So what they've done use that as an opportunity to take their entire Marcus effort to take their entire digital banking effort and folded into their wealth management group that is their excuse to take away that business which for years has been used to court your folks on Park Avenue and the Hamptons in the Swiss out, the non slugs, the non slaps, exactly. And now donate do regular people across the country and hopefully across the world for them. Okay. But how much of a challenge is this for Goldman Sachs. I mean, they were one of the firms coming out of the financial crisis. That was arguably most vilified in the eyes of so called main street investors. So how are they actually trying to reach mean street? Well for one you're not getting loans by Goldman Sachs. They're getting loans from Marcus a happy entity. It is a bit of a challenge. But like all things public memory fades. No one's really looking at ten years past the crisis. You could argue that Coleman's not seen as the villain as it used to be in. There clearly making a big makeover having said that it is going to be a challenge not just from a branding perspective. But also from a competitive landscape that whole argument is look we we not a legacy Bank. We don't have these brick and mortar places we can just go online show, you these ends offer you these loans, but there are many other people who can offer the same thing. So the competitive landscape is what is going to prove for them to be the biggest challenge. And now you have Buckley's that are saying that it will come to the US and south its own digital Bank. And I would say Buckley's is arguably much more well known retail Bank, even though it's a UK entity. So the challenge is going to be the competitive, landscaping, not so much the branding. What's what are the potential payoffs and the potential risks for Goldman Sachs in terms of? Potential payoffs in many ways, look at it thirty years ago, they didn't even have this wealth management asset management division today. And I have some numbers with me today that division is about twenty percent of their revenue. That's about six billion dollars from hardly anything couple of decades ago. So clearly they made a big progress, and that's steady stable revenue. Unlike investment banking, that's probably tied to capital markets or training that could be very dependent on hits or misses or regulatory pressures. This is a stable source of revenue fees from clients on an annual basis or something like that sort exactly if you can build it out eight can obviously become a very strong pillar of a very still eat sets a base for institution that allows it to flourish and expand look at it this way, you you have Goldman that's now going out and making personal loans to people who might not have the best credit ratings out there. Do they have all the experience that they're arguably the best risk managers on Wall Street, but that's very different from offering loans do die teachers in Nevada or you know? Mechanics in Texas or any any any other place, you're dealing with a very different set. How will they face to that challenge ramping up at a time when we are in the late late stages of a credit cycle that there will be a challenge. But their their point is that's up and down off a cycle that you'll always get what they want to do is build something over the next twenty thirty years, and that hopefully, even if they had any sort of small obstacles and setbacks to start with that's not going to deter them from their long-term and who's their target customer. Here. Are they going for the baby boomers who actually have the most money and are rolling into retirement with it? Or are they going after the millennials in the hopes that one day, they'll have more money everyone? Everyone who wasn't a Goldman Sachs client that is everyone who wasn't a big corporation, everyone who's not your massive. Wealth manager with the one hundred million dollar trust fund. It's your Google employees. It's your Bloomberg employees, tiller and employed anyone in anyone in this country who has some money to spend who has who wants to get some financial savvy del willing to offer them an opportunity by saying they can provide these products without really having to put up some massive upfront cost to service them because right there, that's this is not a. Hey. Branches robo advisors apps for financial planning the kind of stuff that doesn't require a huge affirmed costs, but could have some benefits and once he hooked them in once you read them in. Then you could offer them a variety of products. Where did this name come from Marcus? Marcus Goldman the gentleman who started Goldman Sachs in eighteen sixty nine. Sack spot of the name is his son-in-law. And I don't want to be quoted on this. But. Coast to coast, which is believe Samuel Sachs or Walter sacks. One of them was a son-in-law, so Marcus Goldman and son-in-law Mr. with would original Goldman Sachs. She thank you so much for your terrific story this week about how Goldman is moving its digital Bank, aka Marcus into its wealth unit as it expands and Q, that's Shreedhar Nadarajah. Bloomberg news finance reporter in New York. And just ahead on Bloomberg finance ATF's in space. This is me. The art and.

Marcus Goldman Goldman Sachs Bloomberg Samuel Sachs New York reporter Buckley John Josse Nadarajah ATF Mark Texas Shreedhar Nadarajah US Google Coleman
"marcus goldman" Discussed on 10 10 WINS

10 10 WINS

03:52 min | 1 year ago

"marcus goldman" Discussed on 10 10 WINS

"Avenue. This happened early this morning officers responded to a nine one one call about five AM, and they got there. They say they found the woman unconscious and unresponsive with the laceration to her neck release. Haven't said anything about what alleged ties the person of interest to the crime scene, but chief of detectives Dermott, say's they're pretty anxious to get to the bottom of it. We have a female person of interest for the case. We were exploring what relationship if any between the two, and it is still pretty preliminary. They say this person is someone who lives in the building so far. Again, no arrests. Meantime, the victim is ideas, Susan trot. They think she was killed in her living room. But she was found in a bedroom. When police got their neighbors say mistrial was known in her building for her passion for dogs. Thanks. He rescued a lot of them and took care of them. Neighbors say MS trot is also key at keeping their building looking nice. He was in charge of the gardening. They're now they're wondering why would anyone want to kill her police are hoping to find that out pretty soon? Well, the MTA today announcing efforts to ease the pain of L train riders who face suspension of that service for fifteen months across the East River in Manhattan, starting next April thousand new round trip trains will be up and running weekdays the temporary changes follow along with me. We'll target the a train the Eli and f- line modified additional service will operate on the G line as well as the Jay Z trains. Follow me so far. There will be other offerings, by the way for the two hundred seventy five thousand straphangers affected by the L train repair work. Shut again, all this happens next April. Three more arrests in connection with that brawl between the so-called western Sovan. Right. Proud boys and left-wing protesters outside the metropolitan Republican club on the upper east side last week Forty-one-year-old urban Antion of queens and forty year old northport resident Douglas Lennon are facing riot and assault charges. Twenty six year old max. Well hair of Harrisburg, charged with gang assault assault riot and weapon possession where it yet as to which group. These men were a part of this brings a number of arrests linked to the class now to five and the NYPD says the neighborhood policing program it began almost three and a half years ago will extend to every residential precinct. When the last two segments are launched this weekend. Manhattan's midtown north and the one hundred and fourth in queen's Commissioner Jimmy O'Neill saying it's forged deeper connections with the people served marks a new beginning that highlight public safety as a shared responsibility neighborhood policing focuses on keeping the same officers in the same neighborhoods on the same ship. So they get to know people and local problems the department knows that since the launch of the program grime has continued to fall citywide recently for the first time in a quarter century the city had no shooting incidents reported during a three day weekend wins news time five twenty six. Now, Bloomberg money watch on ten ten wins. And here is Larry kofsky, Bank, healthcare and energy stocks. Wall Street to a mostly lower close only the NASDAQ rose that Ed Jones industrial average lost one hundred twenty six the S and P five hundred fell eleven the NASDAQ composite climbed nineteen the Federal Trade Commission has given its blessing to the merger of Germany's and Connecticut-based Praxair. The forty six billion dollar deal will create the world's largest supplier of industrial gases. Boeing is getting a shot at selling at seven eighty seven Dreamliner to Lufthansa a source says the German airline has requested proposals from both Boeing and Airbus. Is it looks to order about twenty jets to update its aging long-haul fleet? Goldman Sachs's disbanding. Spending consumer and commercial banking division. Marcus Goldman's, retail banking business will shift to the firm's investment management division. It hopes to expand the range of products that can be pitched to its clients..

Susan trot Manhattan Dermott assault Boeing Goldman Sachs Marcus Goldman MTA East River Jay Z NYPD Sovan metropolitan Republican club Bloomberg Larry kofsky Harrisburg Federal Trade Commission
"marcus goldman" Discussed on ESPN Chicago 1000 - WMVP

ESPN Chicago 1000 - WMVP

01:33 min | 1 year ago

"marcus goldman" Discussed on ESPN Chicago 1000 - WMVP

"Probably from my friends. Doc, it's not your dog's hair the dog, and you passed you can see why we cut it down. Visit hondacertified dot com. Check out our latest certified pre owned inventory from ABC dot com. Two thousand eighteen best value brand based on two thousand eighteen brand inventories. From Kelley blue book. Visit KP dot com for information. Off credit card debt with a personal loan from Marcus by Goldman Sachs. Life can add up quickly like when your youngest needed braces the same week as your oldest tuition was due. And then he got hit with the vet Bill for the real baby of the family. Dead happens. It's how you get out. That counts. Get a personal loan for Marcus. Goldman Sachs fixed interest rates monthly payment options and no fees ever. Learn more at Marcus dot com. Major league baseball on ESPN radio and on the ESPN app. Manage your dream team and franchise goal. Plus get weekly stats roster. Updates and more RBI baseball. Eighteen is available now. Learn more RBI dot com. Rated e for everyone. Chris singleton Kevin winter back at the studios. Roxie burn with you from Dodger Stadium one nothing LA over the Rockies in this match up of the top two teams in the NFL west with the dodgers game on Colorado coming into play tonight. Bottom of the order for the rocks here. The third eye Annetta Hamson and the pitcher freeling against Clayton Kershaw..

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"marcus goldman" Discussed on FinTech Insider

FinTech Insider

01:40 min | 2 years ago

"marcus goldman" Discussed on FinTech Insider

"Product as well over that to six thousand best off in Britain, Marcus. If you wanna run the name, it comes from the Goldman Sachs. Founders named as. Marcus Goldman already, amass more than twenty billion dollars in deposits in the US and lent three billion to customers over there in an internal memo opens your boss, Richard openness. I'm gonna put to this note, said nationwide. Roll out with follow in the coming weeks from the reason is does so well is because this brand us so well stories because they offer on the savings account, very, very high interest rates room to be one point, five percent in the UK and on the lending side, very, very low interest rates, which you can see why that is popular. Goldman hopes, retail banking, Brandon launch, right? The lawn to the retail banking brand push. We'll help it hit his target of increasing revenues by five billion dollars by twenty twenty for Koos. Not for me in this one, is that about one point, five percent interest rate for savings compose to about no point, five percent average? So in the on, the us in Europe is terrible. I mean Germany's probably just as bad a to. Yeah, I think this is the this is the thing you can occur. Choir customers by being top of the league table. And then if you can hook them with a great service on the back of that, the atom, Donna similar thing, I believe, which is your top of the league table offering in terms of lending and then acquiring a significant number of customers using that route on the price comparison websites was interesting to me about Marcus is they Goldman are actually starting from a greenfield perspective here. They have very mature investment banking infrastructure, but they didn't really have a retail banking offering. Unlike j. p. Morgan Chase.

Marcus Goldman Goldman Sachs US Britain Morgan Chase Europe UK Brandon Richard Germany Donna j. twenty twenty five percent twenty billion dollars five billion dollars
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 2 years ago

"marcus goldman" Discussed on Bloomberg Radio New York

"And affirm and he also had a loan from marcus that's right i mean if you don't know from the bankruptcy filings what order all the long exactly but still it's like it's just sort of a telling thing about the ease that people are getting consumer credit these days and because since the financial crisis defaults in general have come way down and there's been more and more competition to lend out money yeah it's just become easier for people to get lots of credit cards and they get that but you would have thought that those would be the situations that marcus goldman what is it not so much yeah i mean i was surprised yeah no it back in the day american express about in the late eighties was the new entry into lending if you can believe it and they they had only ever done charge cards they started offering credit cards and there was a lot of talk about how they will get the best customers 'cause already knew these elite people from their charge cards but it turned out that win the economy did get bad their results weren't as good or even worse than other lenders so some analysts i spoke to had some fear that goldman might run into trouble despite all the good modeling that they say they've been doing to be fair what does goldman say about this in terms of risk i mean even two or three billion dollar loan portfolio under marcus is still pretty small when you look at goldman's assets right i mean they're saying that they are being careful with who they lend to that some people going bankrupt is expected and as part of the plan and yes even if things go worse than they expected they can handle it i mean goldman is making the making hundreds of millions of dollars every every month know they'll make it back their losses if they were to occur real quick well and it is it comes at a very interesting moment for goldman clearly and big wall street banks as you well know and with goldman specifically you know they're about to transition to a new ceo you know david solomon waiting in the wings he has been pretty vocal proponent of this business has talked it up as something that they can invest in for the long term yeah i mean he's saying this has a lot of potential data can do maybe they could do mortgages or or credit card with apple or loans.

marcus goldman ceo david solomon apple three billion dollar
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 2 years ago

"marcus goldman" Discussed on Bloomberg Radio New York

"And affirm and he also had a line from arcus yeah i mean if you don't know from the bankruptcy filings what order all the long exactly but still it's like it's just sort of telling thing about the ease that people are getting consumer credit these days and because since the financial crisis defaults in general have come way down and there's been more and more competition to lend out money yeah it's just become easier for people to get lots of credit cards and i get that but you would have thought that those would be the situations that marcus goldman would have said that's much yeah i mean i was surprised yeah no it back in the day american express about in the late eighties was the new entrance into lending if you can believe and they they had only ever done charge cards they started offering credit cards and there was a lot of talk about how they would get the best customers to new these elite people from their charge cards but it turned out that win the economy did get bad their results weren't as good or even worse worse than other lenders so some analysts i spoke to had some fear that goldman might run into trouble despite all the good modeling that they say they've been doing to be fair what does goldman say about this in terms of risk i mean even two or three billion dollar loan portfolio under marcus is still pretty small when you look at goldman's assets right i mean they're saying that they are being careful with who they lend to that some people going bankrupt is expected in this part of the plan and yes even if things go worse than they expected they can handle it i mean goldman is making the making hundreds of millions of dollars every every month or they'll make it back their losses if they were to occur real quick well and it is it comes at a very interesting moment for goldman clearly and big wall street banks as you well know and with goldman specifically you know they're about to transition to a new ceo you know david solomon waiting in the wings he has been pretty vocal proponent of this business has talked it up as something that they can invest in for the long term yeah i mean he's saying this has a lot of potential they can do maybe they could do mortgages or or credit card with apple or loans.

marcus goldman ceo david solomon apple three billion dollar
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:59 min | 2 years ago

"marcus goldman" Discussed on Bloomberg Radio New York

"And affirm and he also had a line from marcus yeah i mean it's you don't know from the bankruptcy filings what order all the long exactly but still it's like it's just sort of a telling thing about the ease that people are getting consumer credit these days and because censu financial crisis defaults in general have come way down and there's been more and more competition to lend out money yeah it's just become easier for people to get lots of credit cards and they get that but you would have thought that those would be the situations that marcus goldman would said not so much yeah i mean i was surprised yeah no it back in the day american express about in the late eighties was the new entry into lending if you can believe and they they had only ever done charge cards they started offering credit cards and there was a lot of talk about how they would get the best customers 'cause i already knew these elite people from their charge cards but it turned out that win the economy did get bad their results weren't as good or even worse than other lender so some analysts i spoke to had some fear that goldman might run into trouble despite all the good modeling that they say they've been doing to be fair what does goldman say about this in terms of risk i mean even a two or three billion dollar loan portfolio under marcus is still pretty small when you look at goldman's assets right i mean they're saying that they are being careful with who they lend to that some people going bankrupt is expected and this part of the plan and yes even if things go worse than they expected they can handle it i mean goldman is making the making hundreds of millions of dollars every every month know they'll make the back their losses if they were to occur real quick well and it is it comes at a very interesting moment for goldman clearly and big wall street banks as you well know and with goldman specifically you know they're about to transition to a new ceo you know david solomon waiting in the wings he has been pretty vocal proponent of this business has talked it up as something that they can invest in for the long term yeah i mean he's saying this has a lot of potential data can do maybe they could do mortgages or or credit card with apple or tomato loans money management for people who aren't quite so rich i mean he sees us as a as a platform for them to expand and he says that even if they don't become the biggest player in these markets there's still an opportunity for golden to make a lot of money serve a lot of new customers that's great thanks so much rain story thank you thanks a lot you're listening to bloomberg businessweek coming up thanks to high tax ation sweden has record surpluses carol yes even those are under pressure and that's because of the welfare needs hundreds of thousands of refugees have come into that country as they have all over europe nationalism yeah coming into sweden tapping into some of those benefits.

three billion dollar
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:16 min | 2 years ago

"marcus goldman" Discussed on Bloomberg Radio New York

"And firm and he also had a loan from marcus yeah that's i mean it's you don't know from the bankruptcy filings what order all the long exactly but still it's like it's just sort of telling thing about the ease that people are getting consumer credit these days and because since the financial crisis defaults in general have come way down and there's been more and more competition to lend out money yeah it's just become easier for people to get lots of credit cards and they get that but you would have thought that those would be the situations that marcus goldman would have said not so much yeah i mean i was surprised yeah no it back in the day american express about in the late eighties was the new entrant into lending if you can believe it and they they had only ever done charge cards they started offering credit cards and there's a lot of talk about how they would get the best customers 'cause already knew these elite people from their charge cards but it turned out that when the economy did get bad their results weren't as good or even worse than other lender so some analysts i spoke to had some fear that goldman might run into trouble despite all the good modeling that they say they've been doing to be fair what does goldman say about this in terms of risk i mean even two or three billion dollar loan portfolio under marcus is still pretty small when you look at goldman's assets right i mean they're saying that they are being careful with who they lend to that some people going bankrupt is expected in this part of the plan and yes even if things go worse than they expected they can handle it i mean goldman is making the making hundreds of millions of dollars every every month or they'll make it back their losses if they were to occur real quick well and it is it comes at a very interesting moment for goldman clearly and big wall street banks as you well know and with goldman specifically you know they're about to transition to a new ceo david solomon waiting in the wings he has been pretty vocal proponent of this business has talked it up as something that they can invest in for the long term yeah i mean he's saying this has a lot of potential they can do maybe they could do mortgages or or credit card with apple or loans.

marcus goldman ceo apple david solomon three billion dollar
"marcus goldman" Discussed on WAFS Biz 1190

WAFS Biz 1190

03:36 min | 2 years ago

"marcus goldman" Discussed on WAFS Biz 1190

"And you have sat alone from marcus yeah i mean if you don't know from the bankruptcy filings what order all the long exactly but still it's like it's just sort of a telling thing about the ease that people are getting consumer credit these days and because since the financial crisis defaults in general have come way down and there's been more and more competition to lend out money yeah it's just become easier for people to get lots of credit cards and they get that but you would have thought that those would be the situations that marcus goldman what is it not so much yeah i mean i was surprised yeah no back in the day american express about the late eighties was the new entrance into lending if you can believe and they they had only ever done charge cards they started offering credit cards and there was a lot of talk about how they would get the best customers because ready knew these elite people from their charge cards but it turned out that when the economy did get bad their results weren't as good or even worse than other lender so some analysts i spoke to had some fear that golden might run into trouble despite all the good modeling that they say they've been doing to be fair what does goldman say about this in terms of risk i mean even a two or three billion dollar loan portfolio under marcus is still pretty small when you look at goldman's assets right i mean they're saying that they are being careful with who they lend to that some people going bankrupt is expected and as part of the plan and yes even if things go worse than they expected they can handle it i mean goldman is making the making hundreds of dollars every every month know they'll make it back their losses if they were to occur real quick and it is it comes at a very interesting moment for goldman clearly and big wall street banks as you well know and goldman specifically you know they're about to transition to a new ceo you know david solomon waiting in the wings he has been pretty vocal proponent of this business has talked it up as something that they can invest in for the long term yeah i mean he's saying this has a lot of potential they can do maybe they do mortgages or or credit card with apple or auto loans money management for people who weren't quite so rich i mean he sees us as a as a platform for them to expand and he says that even if they don't become the biggest player in these markets there's still an opportunity for golden to make a lot of money serve a lot of new customers that's great thanks so much rain story thank you thanks a lot you're listening to bloomberg businessweek coming up thanks to high taxation sweden has record surpluses carol yes even those are under pressure and that's because of the welfare needs hundreds of thousands of refugees have come into that country as they have all over europe nationalism yeah coming into sweden tapping into some of those benefits that the swedes take for granted this is bloomberg dell knows there's nothing small about your small business that's why this is their biggest black friday in july sale ever get up to forty percents off and shop deals on pc's with intel core processors plus enjoy free shipping on everything don't small business technology advisers are waiting to help you find the bills on the right track for your needs at eight seven seven buy dell to shop savings that are anything but small visit dell dot com slash business deals or call eight seven seven by dell my number two does not.

three billion dollar
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:27 min | 2 years ago

"marcus goldman" Discussed on Bloomberg Radio New York

"Credit cards alone from online lenders sofi prosper and affirm and he also had a loan from marcus yeah i mean you don't know from the bankruptcy filings what order all the long exactly but still it's like it's just sort of a telling thing about the ease that people are getting consumer credit these days and because since the financial crisis defaults in general have come way down and there's been more and more competition to lend out money yeah it's just become easier for people to get lots of credit cards and they get that but you would have thought that those would be the situations that marcus goldman what is it not so much yeah i mean i was surprised yeah no it back in the day american express about in the late eighties was the new entrance into lending if you can believe and they they had only ever done charge cards they started offering credit cards and there's a lot of talk about how they will get the best customers 'cause all ready knew these elite people from their charge cards but it turned out that when the economy did get bad their results weren't as good or even worse than other lenders so some analysts i spoke to had some fear that goldman might run into trouble despite all the good modeling that they say they've been doing to be fair what does goldman say about this in terms of risk i mean even two or three billion dollar loan portfolio under marcus is still pretty small when you look at goldman's assets right i mean they're saying that they are being careful with who they lend to that some people going bankrupt is expected and as part of the plan and that yes even if things go worse than they expected they can handle it i mean goldman is making the making hundreds of millions of dollars every every month or they'll make it back their losses if they were to occur real quick and it is it comes at a very interesting moment for goldman clearly and big wall street banks as you well know and goldman specifically you know they're about to transition to a new ceo you know david solomon waiting in the wings he has been pretty vocal proponent of this business has talked it up as something that they can invest in for the long term yeah i mean he's saying this has a lot of potential can do maybe they could do mortgages or or credit card with apple or auto loans money management for people who aren't quite so rich i mean he sees us as a as a platform for them to expand and he says that even if they don't become the biggest player in these markets there's still an opportunity for golden to make a lot of money serve a lot of new customers that's great thanks so much rain story thank you thanks a lot you're listening to bloomberg businessweek coming up thanks to high taxation sweden has record surpluses carol even those are under pressure and that's because of the welfare needs hundreds of thousands of refugees have come into that country as they have all over europe nationalism yeah coming into sweden tapping into some of those benefits that the swedes take for granted this is bloomberg oh long time no see it's me the rock t shirt in the back of your closet do remember you crowd surfed in me man but you haven't worn me like forever i got it you're retired but i still got some left him so take me to goodwill where i.

three billion dollar
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:08 min | 2 years ago

"marcus goldman" Discussed on Bloomberg Radio New York

"And affirm and he also had a line from marcus yeah i mean you don't know from the bankruptcy filings order all the long exactly but still it's like it's just sort of a telling thing about the ease that people are getting consumer credit these days and because since the financial crisis defaults in general have come way down and there's been more and more competition to lend out money yeah it's just become easier for people to get lots of credit cards and they get that but you would have thought that those would be the situations that marcus goldman would have said not so much yeah i was surprised yeah no it back in the day american express about in the late eighties was the new entry into lending if you can believe and they they had only ever done charge cards they started offering credit cards and there was a lot of talk about how they would get the best customers 'cause already knew these elite people from their charge cards but it turned out that when the economy did get bad their results weren't as good or even worse than other lender so some analysts i spoke to had some fear that goldman might run into trouble despite all the good modeling that they say they've been doing to be fair what does goldman say about this in terms of risk i mean even two or three billion dollar loan portfolio under marcus is still pretty small when you look at goldman's assets right i mean they're saying that they are being careful with who they lend to that some people going bankrupt is expected in this part of the plan and yes even if things go worse than they expected they can handle it i mean goldman is making the making hundreds of millions of dollars every every month or they'll make it back their losses if they were to occur real quick and it is it comes at a very interesting moment for goldman clearly and big wall street banks as you well know and with goldman specifically you know they're about to transition to a new ceo you know david solomon waiting in the wings he has been pretty vocal proponent of this business has talked it up as something that they can invest in for the long term yeah i mean he's saying this has a lot of potential they can do maybe they could do mortgages or or credit card with apple or tomato loans money management for people with who aren't quite so rich i mean he sees us as a as a platform for them to expand and he says that even if they don't become the biggest player in these markets there's still an opportunity for goldman to make a lot of money serve a lot of new customers that's great thanks so much rain story thank you thanks a lot you're listening to bloomberg businessweek coming up thanks to high taxation sweden has record surpluses carol yes even those are under pressure and that's because of the welfare needs hundreds of thousands of refugees have come into that country as they have all over europe nationalism yeah coming into sweden tapping into some of those benefits that the s weeds take for granted this is bloomberg listen as a hiring manager i've got to tell.

three billion dollar
"marcus goldman" Discussed on WCHS

WCHS

01:57 min | 2 years ago

"marcus goldman" Discussed on WCHS

"This report is brought to you by marcus by goldman sachs americans total credit card debt continues to climb with the average household carrying credit card balance of over fifteen thousand dollars according to nerdwallet american household credit card debt survey sixty one percent of americans who have ever owned a credit card have carried a balance from one month to the next i'm andrea work ambassador for marcus goldman sachs to get your financial house in order this spring explore your options when it comes to paying off credit card debt if you carry a balance on one or multiple cards consider consolidating debts by taking out a personal loan you can find these loans online with lenders such as marcus by goldman sachs which offers no fee fixed rate personal loans to help consumers with good credit pay off high interest variable rate credit card debt for more information please visit www dot marcus dot com that's w w w dot marcus dot was a goal that i wanted to achieve at the very beginning i'm a forty year old man that walked in there to get his high school diploma i wasn't sure if i could do it very hard for me by the teachers the counselors they help you one of the teachers was ms ara sally missouri sally she gave me direction every single time had a question she'll put down whatever she's doing she'll come over and she'll sit there with your till you get it at age forty seven with the help of his teacher marco finished his high school diploma fifty percent of getting your high school diploma is walking through those doors the other fifty percent is doing the work getting your high school diploma it is a life changing experience it really is a catapults you to where you wanna go no one gets a diploma alone if you're thinking of finishing your high school diploma you have help find free adult education classes near you at finishyourdiploma dot org that's finish your diploma dot org brought to you by the dollar general literacy foundation.

marcus marcus goldman sachs marco goldman sachs missouri fifty percent fifteen thousand dollars sixty one percent forty year one month
"marcus goldman" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:49 min | 3 years ago

"marcus goldman" Discussed on Bloomberg Radio New York

"The one right now that that so far ahead of everybody else is goldman sachs goldman sachs created the marcus its new bank named after marcus goldman and this did not really exist a year ago they have now given out one billion dollars in loans to it's it's it's it's a purely online bank a cpa is doing amazing stuff in the far east i think they're probably a more than anybody else and then you know that i'm starting to lose out here i'm starting to run out of ideas here and so we really need to have some pretty revolutionary thinking or some of these traditional asian banks are going to be in trouble so are the margins there to justify this or do you really have to say well they're very narrow so we're going to go after scale well the the the the margins are there for people who are online business as who don't have as ilian employees in central business district this is the problem the margins are not there for the banks who have a hundred and fifty thousand employees in there in some of the most expensive real estate in any city in the world so this is a a a huge benefit to the online companies and it's a huge problem for the large banks that are that are buried in costs but ali baba's margins are some of the highest margins of any tech company in the world ali baba has the margins you mentioned city iowa when they brought in album that was back in two thousand nine owns hand it was one of the best stay in the space i guess but there's also let of startups and we actually speak to someone from estonia on his program a while ago his building effing techsat up as well what kind of funding days banks nader and do you think it's going to be a guess they going to start getting at and and then move ahead of these traditional makes them motor banks i i think the money's there i think the private equity monies there you know a pingon is now has a billion dollar fund to exert actually this to be investing in these guys i think i think.

real estate ali baba tech company iowa estonia nader goldman sachs goldman sachs marcus goldman one billion dollars billion dollar
"marcus goldman" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

MAD MONEY W/ JIM CRAMER - Full Episode

01:49 min | 3 years ago

"marcus goldman" Discussed on MAD MONEY W/ JIM CRAMER - Full Episode

"The other thing i'll comment on is when things really affect the ability of our people to be who they are and to do their job and to be effective it's professionals and that's the lgbt the immigrant ban so that people could move around with their spouses who may have had a passport for another country so i commented on those issues because really icon of have to be the champion of our people and i would i kinda oh it to the body politic to comment where i have expertise they could take my advice or not know right decisions but i do give them our expertise okay speaking of wheelhouse you're doing some are different things involving of investors that i would never that you would have been furious sure i go on after when i was goal was so we are traditionally an institutional wholesale business we do with big companies the biggest institutions governments richest people and one of the things that we started to do and this is a little bit part regulation because the world kind of favors lending over lot of other activities that we do right market making and other kinds of investing and so what we've done as we've augmented the lending part of our business in one place where we thought we could really fulfil an important business purpose but also an important social purpose is nonrecourse lending to consumers and so we have this platform call marcus which is named after our founders marcus goldman and we do loans between thirty five hundred dollars and thirty thousand dollars we distribute this online and now i'm not i'm very conscious of the limits of our expertise and what with good adding obviously your youth but that's how the world has evolved because again these nonrecourse loans that we provide a lot of the you know it's about risk management.

marcus goldman risk management thirty five hundred dollars thirty thousand dollars