The Goldman Sachs Warrants
Review of Business, Vol. 30, No. 1, 2009
42 Pages Posted: 8 May 2009 Last revised: 6 Jan 2010
Date Written: May 7, 2009
This paper values the Capital Purchase Program (CPP) and Berkshire Hathaway warrants issued by Goldman Sachs in 2008. The paper’s methodology could be of interest to policy makers, non-profits, journalists, and advisors for the government and the over 500 banks with CPP warrants outstanding.
Keywords: bailout, banks, banking, Capital Purchase Program, Emergency Economic Stabilization Act, Goldman Sachs, options, TARP, too big to fail, valuation, warrants
JEL Classification: G01, G13, G21, G28, G32, G38
Suggested Citation: Suggested Citation