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Goldman Sachs dumps stake in Village Voice Media to avoid ties to sex trafficking allegations
New York Times columnist Nicholas Kristof has revealed some information on one of Goldman Sachs’ investments that has the private equity firm furiously attempting to control what it apparently sees as potential damage to its image. Kristof wrote in his column on Saturday that Village Voice Media, which owns a…
U.S. judge OKs wiretap evidence in former Goldman Sachs director trial
NEW YORK — A US judge said he will allow prosecutors to play recordings of wiretapped phone conversations in the insider trading trial of former Goldman Sachs director Rajat Gupta. Judge Jed Rakoff’s ruling, made public in court papers Tuesday, was a blow to Gupta, whose scheduled May 21 criminal…
Goldman Sachs director quits ‘morally bankrupt’ Wall Street bank
By Juliette Garside – Greg Smith resigns as executive director of Goldman’s European equity derivatives business after devastating attack A Goldman Sachs director in London has resigned after publishing a devastating open letter accusing senior staff of being “morally bankrupt” and bent on extracting maximum fees from clients by offloading…
Romney profited from mortgage lenders that foreclosed on thousands
Republican presidential candidate Mitt Romney and his wife, Ann, saw profits by sinking millions into a Goldman Sachs fund that invested in mortgage-backed obligations, which were owned by lenders who foreclosed on thousands of Floridians. By examining the candidate’s May 2011 financial disclosure forms, Think Progress determined that Romney and…
Goldman Sachs profits plunge 47%
Banking titan Goldman Sachs on Wednesday reported a steep drop in profits for 2011, a fall of 47 percent from the prior year as the firm battled global economic headwinds. The New York-based bank, once famously described as a “great vampire squid” for its ability to make money, made $4.4…
Corzine can’t explain missing MF Global funds
WASHINGTON — Former Wall Street high-flyer and Democratic politician Jon Corzine told US lawmakers Thursday he did not know what happened to an estimated $1.2 billion that disappeared from the accounts of now bankrupt broker MF Global. Corzine — former US senator, New Jersey governor, head of Goldman Sachs and…
Stewart calls Corzine a ‘motherf*cker’ for supporting Wall St. fraud
The contrasting political and financial versions of former New Jersey governor and Goldman Sachs CEO Jon Corzine (D) was on Jon Stewart’s mind Tuesday evening. The Daily Show host displayed how Corzine preached strong regulations on Wall Street’s bets on risky derivatives in his eventual losing campaign against Chris Christie…
Rep. Joe Walsh yells at constituents: Don’t blame the banks
Republican Rep. Joe Walsh of Illinois became noticeably upset during a meeting with his constituents in Gurnee over the weekend after it was suggested that financial regulatory reform would be beneficial. One person in the UNO Bar & Grill pointed out that people in the banking industry often occupied positions…
‘Occupy Wall Street’ protestors flood into court
NEW YORK — Occupy Wall Street protesters in New York shifted their fight from the streets to the court Thursday, when dozens of people arrested while marching rejected a deal for them to avoid trial. The first batch of 78 protesters from among hundreds arrested for disorder over the last…
Chris Hedges, 16 others arrested in Occupy protest at Goldman Sachs
Police arrested at least 17 protesters who were demonstrating outside the Manhattan headquarters of Goldman Sachs on Thursday, according to the Associated Press. Protesters had marched from Zuccotti Park to Goldman’s headquarters to stage a “people’s trial” and deliver a guilty verdict to Goldman executives. Police asked protesters to vacate the…
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