finance

Goldman Sachs' Worst Week Ever

Remy Stern · 04/30/10 05:31PM

The week didn't end well for Goldman Sachs. Following news a criminal probe of the firm is now underway, shares of its stock plunged nearly 10% today, "which translates to a one-day loss in company value of $8.1 billion." [WaPo]

Nice Republicans Temporarily Halt Assault on Democracy

Jeff Neumann · 04/29/10 04:30AM

After realizing they look like huge assholes to everyone outside of the finance industry, GOP senators have decided to allow a debate on the financial regulation bill to begin today. "We owed the American people our best effort." [NYT]

SEC Sues Goldman Sachs

Ravi Somaiya · 04/16/10 10:22AM

The Securities and Exchange Commission has filed a civil suit against Goldman Sachs for inventing and selling a housing investment that was, allegedly, devised to fail and make the bank lots of money. How can God's work be wrong? [NYT]

Jim Cramer is Still Very Bad with Numbers

Jeff Neumann · 03/18/10 04:18AM

Remember that sweaty guy who helped lots of people make terrible decisions with their life savings before, and during, the financial crisis? Yeah. Well, he still does that. And now the SEC is investigating his website, TheStreet.com, over poor accounting.

Suze Orman: "I Am a Total Lady Gaga Freak"

Matt Cherette · 03/13/10 10:45PM

On her show tonight, Suze Orman entertained a request from a woman who wanted to buy $1,400 headphones. Orman then went on a sweet/hilarious/awesome tangent about her love for Lady Gaga—love that's not reciprocated, apparently. Video inside.

Goldman Sachs Doesn't Do Snow

cityfile · 02/10/10 02:58PM

Want to express your displeasure with the way Goldman Sachs steamrolled Washington and profited at the expense of American taxpayers during the financial meltdown? Head to the Embassy Suites in the financial district tonight: "Goldman employees have all the rooms [booked] because they don't want to commute home in the weather and come back early." [BI]

Jamie Dimon Will Have to Make Do

cityfile · 02/05/10 09:20AM

"JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, who led the second-biggest U.S. bank to a profit each quarter of the financial crisis, got a bonus package valued at $17 million for 2009 that didn't include any cash. The 53-year-old banker, who got a $27.8 million bonus for 2007 and only a $1 million salary for 2008, received restricted stock units and options and no cash bonus for last year, spokesman Joseph Evangelisti said. The valuation of his 2009 bonus was based on a JPMorgan regulatory filing today. "It's consistent with past pay practices and returns," said Alan Johnson, founder of New York-based Johnson Associates Inc. "You could argue that for him, personally, pay could have been higher, but this isn't the year for them to have done that." There's always next year! [BN]

Miranda Kerr to the Rescue

cityfile · 02/04/10 12:08PM

Remember the banker that got busted for looking at racy photos on his computer because one of his colleagues was being interviewed on TV at the time? The woman he was looking at pictures of—Victoria's Secret model Miranda Kerr—has now stepped in and offered to sign a petition to help him try and save his job. [Herald Sun/NYP, previously]

Citigroup 2.0

cityfile · 02/03/10 01:14PM

Citigroup chief Vikram Pandit is blogging! Well, not exactly. But he does make an appearance on "The New Citi Blog," a site the bank launched earlier this week to try and convince the public—and Washington—that Citi has totally changed since the financial crisis unfolded and is now totally focused on making the world a better place: