Goldman Sachs

Once again, maybe for the last time, Senator Carl Levin and the Permanent Subcommittee on Investigation has demonstrated how government, and the legislative branch in particular, can work in the public’s interest regardless of partisanship. Yesterday’s hearing laid out a complex system of price...
11/21/2014
Blog
There is a prevailing, politically expedient myth that the Fed’s bond purchase programs are somehow akin to job fairs; as if there’s an economic umbilical cord stretching from a mortgage-backed security lying on the Fed’s books to a decent job becoming available in the heart of America. Yet, since...
12/06/2013
Blog
The Department of Justice has brought a civil suit against Standard & Poor’s, the credit rating agency, that centers on the decisions that S&P made concerning models it used to evaluate default risk for mortgage-backed securities prior to the financial crisis. Default risk was central...
02/07/2013
Blog
Talk about biting the hand that bails you out of bankruptcy. AIG shareholders have brought suit against the federal government because the bailout deal had a “punitive” interest rate of more than 14 percent and diluted the holdings of existing shareholders due to the government’s...
01/08/2013
Blog
The President’s Rose Garden press conference last week on speculative trading and gas prices has induced a flood of editorials that lecture the administration on the law of supply and demand. President Obama pressed for renewed scrutiny of excessive speculation and manipulation in oil...
04/27/2012
Blog
The uproar over Greg Smith’s parting shot op-ed as he walked from Goldman Sachs is remarkable.  Strongly held opinions will be shared in many cocktail party conversations in Manhattan and the Hamptons this weekend. Some will say that Smith must have an ax to grind over a dead-end posting...
03/17/2012
Blog
Former Goldman Sachs employee Greg Smith wrote an op-ed in yesterday’s New York Times that simmers with pathos. Smith describes the devolution of the culture at Goldman: Whereas in the past, the company worked in the interests of its clients, they are now seen merely as the source...
03/15/2012
Blog
Greg Smith's resignation letter published yesterday in the New York Times shot across the internet and the world of finance. In fact, it caused enough of a ripple to wipe $2.2 billion from Goldman Sach's market share.  For many observers, however, what angered Smith about the firm's...
03/15/2012
Blog
One of the major companies responsible for the nation’s credit meltdown will now control your personal credit history. Goldman Sachs Capital Partners, the private equity wing of the financial firm, has partnered with another private equity company to buy the credit reporting firm TransUnion....
02/22/2012
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