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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When it was announced recently that Goldman Sachs had withdrawn its sponsorship of the small community bank at which Occupy Wall Street had set up an account for its donations, it appeared to be merely a petty act of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Goldman Sachs has withdrawn its sponsorship and funding of a credit union honoring Occupy Wall Street at a fund-raising event, according to The Wall Street Journal.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…
Roseanne Barr: Behead bankers who don’t give up wealth
Comedienne and actress Roseanne Barr told RT’s Max Keiser Saturday that bankers should each give up all but $100 million of their personal wealth or face decapitation. Barr explained that she had spoken at the “Occupy Wall Street” protests in September. “I ended up speaking there to announce my candidacy…
Goldman Sachs eyes major cuts: report
Goldman Sachs is mulling drastic spending cuts as it braces for what could be one of its worst quarterly reports since it went public more than a decade ago, the New York Times reported Tuesday. After Goldman set out this summer to cut costs by $1.2 billion by mid-2012, including…
Facebook doubles first-half revenue
SAN FRANCISCO (Reuters) – Facebook’s revenue doubled to $1.6 billion in 2011′s first half, a source with knowledge of its financials told Reuters, underscoring its appeal to advertisers while it grapples with intensifying competition from the likes of Google Inc. Net income in the first half of 2011 came to…
U.S. government to sue major banks over mortgages: report
The United States plans to file lawsuits against more than a dozen big banks over mortgage-backed securities seen to have fueled the 2008 economic crisis, the New York Times said. The lawsuits are set to be filed Friday or early next week against Bank of America, JP Morgan Chase, Goldman…
Goldman Sachs to be fined over mortgage practices
NEW YORK — Goldman Sachs has agreed to pay a fine and reform some controversial mortgage practices that sparked the “robo-signing” scandal, the US Federal Reserve said on Thursday. The Fed’s announcement did not reveal the size of the fine, which stemmed from foreclosures carried out in 2009 and 2010…
Goldman CEO retains lawyer; shares slump
US banking giant Goldman Sachs said Monday its top executive Lloyd Blankfein had retained a private lawyer in connection with a US Senate investigation into the mortgage meltdown and the global financial crisis. The company said the chief executive and chairman had his own lawyer to deal with the possibility…
Economists: Threat of recession rising
WASHINGTON — The threat of a new recession is rising in the United States, economists say, as they slash their growth forecasts for the second half of the year. Slowing global expansion, the plunge in US stock markets after Standard & Poor’s cut the country’s credit rating, and political pressure…
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