How much lost money does Goldman Sachs have? The Goldman Sachs Group, Inc. is leading global investment banking, securities and investment management firm with its headquarters in New York and offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world. The firm provides a wide range of financial services to various corporations, financial institutions, governments and high-net-worth individuals.
Goldman Sachs hogged limelight last year for all wrong reasons. On April 16, 2010, the Securities and Exchange Commission (SEC) was prepared to sue the firm and one of its employees, Fabrice Tourre. It incurred a loss of more than $90 million owing to this unprecedented incident that shook the financial markets and Americans’ faith in the firm.
Past is behind it and the company is slated for growth in the coming future. Although, the company had projected around $4.00 rise per share in the coming quarters, 2010 first quarter earnings per common share is of $5.59.
Americans Have Lost Money
Goldman Sachs is not the only place where Americans have lost money. If the latest reports are to be believed, $33billion of cash that Americans think lost is laying unclaimed with the state treasurer. This huge cache is mostly owing to un-cashed checks, unclaimed wages, dividend payoffs, utilities deposits, or forgotten bank accounts or other unclaimed funds.
If the respective organizations like banks, insurance agents, tax departments, etc, cannot trace the owner of the money it goes into dormant account. After another three years, the unclaimed cash is transferred to the state treasurer’s coffin. Every state in U.S. has special departments of unclaimed cash, which take care of the money until the rightful owner shows up.
There is a huge amount of unclaimed cash resulting from the deposits or insurance benefits of a deceased people. Many Americans fail to inform their kith and kin about their financial deposits and property. After their death, the deposits and property remain unclaimed.
To claim such cash the heir or relatives are required to show the proof of relationship. If the cash remains unclaimed for more than three years, it adds up to the state treasury.
Recover Your Lost Money
Though Goldman Sachs is showing signs of recovery; it may be difficult for the shareholders to recover completely from the losses due to the problems of the company and the volatile economic situation. However, recovering your own money that was lost sometime earlier due to any reason is obviously easy. Each of the states has their own databases for unclaimed cash and property. People need to find their names or variation of their names in these databases.
Otherwise, with a website like www.cashunclaimed.com , a person can access various databases of different states from the site to search any unclaimed cash laying anywhere in their name. Finding this money is a lot easier now for almost every one. With the government taking initiative to return money to its rightful owners, Americans never had it so easy to claim their forgotten treasure.