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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…

Credit union flap may reveal Goldman Sachs is bullying community banks

When it was announced recently that Goldman Sachs had withdrawn its sponsorship of the small community bank at which Occupy Wall Street had set up an account for its donations, it appeared to be merely a petty act of vindictiveness. According to investigative reporter Greg Palast, however, the motivations go…

Michael Moore: Obama first term ‘heartbreaking’

Liberal filmmaker Michael Moore told BBC’s Richard Bacon that most of President Barack Obama’s first term had been “heartbreaking” and a “disappointment.” “He did not come into office like I hoped that he would,” Moore admitted. “To to do what Franklin Roosevelt did in his first few months, where he…

Goldman Sachs withdraws from sponsoring credit union honoring Occupy Wall St.

Goldman Sachs has withdrawn its sponsorship and funding of a credit union honoring Occupy Wall Street at a fund-raising event, according to The Wall Street Journal. The investment giant pulled its support for the Lowest East Side’s Federal Credit Union and its 25 anniversary after learning that the protestors were…

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