Whether it’s for real or nothing more than political posturing to avoid paying their fair share to protect tax payers from the next crisis, go for it. Asia (thanks to China) will have a very bumpy ride in the next few years as the bubble in China bursts so if Goldman wants to move into that, great. More power to them. If only they have moved into the Middle East when they made that threat a few years ago. Imagine how much fun that could have been now that the region is in turmoil. Business Insider:
Goldman Sachs is going to fire employees in the U.S. and some other countries so that it can hire 1,000 in Singapore, where it’s cheaper.
Charlie Gasparino heard the news from people who were briefed on the hiring in Washington. He says Goldman gave Washington the heads up because hiring offshore is likely to cause a backlash.