Goldman Sachs news stories on Newser

Why Obama Won't Nail Wall Street 'Crooks'

Neal Colgrass — Mon, 07 May 2012 17:34:51 CDT

With President Obama's campaign officially underway , two journalists examine why his promise to end "business as usual" on Wall Street has amounted to more, well, business as usual on Wall Street. "Casting Romney as a plutocrat will be easy enough," write Peter Boyer and Peter Schweizer at the Daily Beast...

Goldman 'Traitor' Scores $1.5M for Tell-All

Mark Russell — Fri, 30 Mar 2012 08:21:05 CDT

It looks like the Goldman Sachs exec who ripped the company in a New York Times editorial when he quit isn't going to suffer too badly for his angry farewell notice. Hachette's Grand Central imprint is paying Greg Smith $1.5 million for the worldwide rights to a tell-all book...

Goldman Scours Emails for 'Muppet' References

Kevin Spak — Thu, 22 Mar 2012 11:36:14 CDT

Goldman Sachs is searching its internal email system for any use of the term “muppet,” as it struggles to spin a scathing op-ed piece from departing executive Greg Smith. In a conference call with Goldman partners last week, CEO Lloyd Blankfein assured them that they'd root out any instance of...

Goldman Traitor Greg Smith: Hero or Weasel?

Kevin Spak — Thu, 15 Mar 2012 11:58:22 CDT

Former Goldman Sachs executive Greg Smith certainly made a splash with his hit piece on his former employers, but Felix Salmon of Reuters is a wee bit suspicious of his motives. Yes, his points are valid; Goldman surely is bilking customers. But "it's much easier to see the disgruntled ex-employee...

Goldman Shares Dive After Exec's Attack

Rob Quinn — Thu, 15 Mar 2012 04:15:00 CDT

Goldman Sachs shareholders had a bad day yesterday thanks to departing exec Greg Smith, who slammed the firm's " toxic and destructive " culture in a New York Times op-ed . The investment bank's shares dived 3.4% in trading yesterday, wiping $2.2 billion off its market value—although shares are still...

Quitting Exec Rips Goldman Sachs for Screwing Clients

Kevin Spak — Wed, 14 Mar 2012 09:54:38 CDT

Goldman Sachs executive director Greg Smith resigns today, and he's not going quietly. In a scorching New York Times op-ed, Smith says that after almost 12 years at Goldman, "the environment now is as toxic and destructive as I have ever seen it." Goldman's culture once revolved around integrity and...

Moody's Slaps Wall Street's Big Banks With Review

Kevin Spak — Thu, 16 Feb 2012 08:31:44 CST

Moody's isn't feeling great about the health of the financial industry right now. The rating agency put a host of banks under review for possible downgrade today, including US giants Bank of America, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley, the Wall Street Journal reports. It said the banks now...

Goldman's Golden Analyst Under Investigation

Kevin Spak — Wed, 15 Feb 2012 08:20:56 CST

Federal investigators have set their sights on famed Goldman Sachs tech analyst Henry King in a broadening insider trading probe. The Feds suspect King, who is known for his spot-on calls, may be leaking inside information from Taiwanese electronic parts manufacturers to US investors, sources tell the Wall Street Journal...

Students Revolt Against Big Bank Recruiting

Matt Cantor — Mon, 06 Feb 2012 09:51:05 CST

Half of those surveyed in Harvard's class of 2010 went into finance or consulting; at the University of Pennsylvania, the figure was even higher—and some students are fed up with the "brain drain." Inspired in part by the Occupy movement, students have launched protests against recruiting by big banks,...