And at least for now, he has the support of the partners, Hintz writes.
"Financial institutions should not be structured like an LBO, " says brokerage analyst Brad Hintz of Sanford Bernstein.
"They're telling the market that trading is not quite as buoyant, " says Hintz, a former bank treasurer.
"These guys aren't going to fail for a funding run because of the Fed's backing, " Hintz said.
"The halcyon days of 30%-plus returns may be over for now, " Hintz said during a conference call Wednesday.
Hintz countered speculation that HSBC (nyse: HBC - news - people ) would take a position.
"What you have here is speculative pressure, " said Brad Hintz of Sanford C.
"Wasserstein has never struck me as someone with expense discipline, " says Hintz, who worked with the dealmaker in the past.
"There is also concern about dilution from what price it will have to raise capital in the market, " Hintz said.
"The ability to place trades in different buckets allows you to ignore the problem, " says Brad Hintz, an analyst at Sanford Bernstein.
When I asked Brad Hintz, an equities analyst with Sanford C.
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Brad Hintz of Alliance Bernstein expects the government to delay Goldman's repayment until a larger group of banks is able to repay simultaneously.
"Lehman needs to reduce its leverage ratios to reflect the new realities of the fixed income marketplace, " Hintz said in a research note Monday.
Hintz's doomsday scenario for Goldman: A 15% decline in 2008 earnings per share, 18% for Lehman, 13% for Merrill and 12% for Morgan Stanley.
"Demand for profitability is pushing the wannabes to be more aggressive on credit terms, " says Brad Hintz, a senior Wall Street analyst at Sanford Bernstein.
Goldman has met with clients "to discuss any concerns they may have with the firm, " according to Brad Hintz, a securities analyst at Sanford C.
"The central bank cannot allow a broker to fail, " Hintz said.
Hintz added that Bear Stearns has always been an independent firm, making it hard for him to believe that it would suddenly change the corporate culture.
"They have to batten down the hatches between now and then, " says Brad Hintz, an analyst at Sanford Bernstein (and a former chief financial officer at Lehman).
The upshot: Goldman has seen "no degradation of business, " has been winning assignments it expected to win, and "trade flows remain in line with expectations, " Mr. Hintz said.
Instead, there will be more opportunity for its retail clients to get in on public offerings, private equity funds or a special commodities fund, and lending, explains Hintz.
Bernstein Research analyst Brad Hintz describes as throwing multiple ropes on a client via financial products so that it becomes more difficult for them to leave the firm.
On February 9, 2012, Judge Clarence Cooper of the United States District Court for the Northern District of Georgia ordered Scott Hintz back to prison for another three years.
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But Brad Hintz, of Alliance Bernstein, thinks the bank may have to make do with eight to nine percentage points less as bets with borrowed money become less acceptable.
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Banks could lose 2% of 2007 earnings because they are forced to hold these loans or sell them at a discount, according to Brad Hintz, an analyst at Sanford Bernstein.
Hintz countered speculation that HSBC would take a position.
In future, numerous trading businesses will no longer be able to beat their cost of capital, says Brad Hintz of Alliance Bernstein, though some of these may still be run as loss-leaders.
The retail channel can grab as much as two years' management-fee income from mutual funds just for placing their shares with clients, points out Charles B. (Brad) Hintz, an analyst with Sanford C.
Not so, says Bernstein research analyst Brad Hintz.
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"Falling home prices, rising food and energy costs, which will inevitably lead to slower consumer spending, are reducing expectations for corporate profitability, pushing up defaults and widening out spreads, " Hintz wrote in a research note Tuesday.
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