goldman-sachs

Goldman Exec, Ping Pong Star Quits with Brutal Rant in The New York Times

Max Read · 03/14/12 09:19AM

There is no better way to quit your job than by unloading on your former employer in the pages of the country's paper of record, and for that if nothing else we salute (former) Goldman Sachs executive director Greg Smith, who has a Times Op-Ed today entitled "Why I Am Leaving Goldman Sachs." Spoiler alert: it's because the firm is filled with "morally-bankrupt" sociopaths.

How American Banks Are Engineering the Next Apocalypse, Again

John Cook · 11/02/11 02:31PM

Remember credit default swaps? AIG? Hopelessly entangled exotic financial instruments tied to esoteric asset valuations that caused cascading defaults in 2008 and threatened to tank the global financial system unless taxpayers ate all the losses? Remember how we reformed Wall St. to make sure that never repeated itself? Someone tell Goldman Sachs, JPMorgan, and Morgan Stanley, because they've teed the whole damn thing up again, this time in Europe.

Jon Corzine is Still a Miserable, Well-Compensated Failure

John Cook · 10/31/11 11:26AM

Goldman Sachs has taken plenty of well-deserved knocks over the last three years, but the man single-handedly most responsible for damaging the Wall St. giant's reputation hasn't worked there for more than a decade: Having done a tour as a shitty senator and a loathed governor, former CEO Jon Corzine has added failed futures broker to his post-Goldman career.

Trader: 'I Go To Bed Every Night and I Dream of Another Recession'

Jim Newell · 09/26/11 04:00PM

Here's a pretty remarkable interview with independent stock and forex trader Alessio Rastani on the BBC this morning, in which he's either being perfectly candid about how traders are viewing the Eurozone crisis, or he's just trolling. Anyway, he's a sociopath.

Goldman Sachs Hunts Down Its Elevator Tweeter

Maureen O'Connor · 08/26/11 01:54PM

The golden age of anonymous corporate elevator Twitter accounts is ending. It lasted about a week. After @CondeElevator closed down operations because "This got really crazy. Love my job," a series of knock-off elevator Twitter accounts launched. The only worthwhile one was @GSElevator, tweeting overheard conversations from Goldman Sachs branches the world around. According to Page Six, the company's notorious rigid management has "kicked off an internal probe" on the matter. After reportedly trying—and failing—to get Twitter to freeze the account, Goldman is now "investigating who is behind it. They believe it is an intern or a young gun, but there are enough facts on the feed for bosses to suspect it is someone with access inside the company."

Goldman Sachs Shares Tank as Shifty CEO Lawyers Up

John Cook · 08/23/11 04:28PM

Remember when Goldman Sachs was a remorseless, cruelly efficient monolith run by soulless machines intent on harvesting wealth at the expense of the global economy and without regard to consequences?

Rich Bankers are Still Crying About 'Unfair' Pay Regulations

Jeff Neumann · 07/06/11 04:15AM

Performing God's work is tough, and should be rewarded accordingly. So it's no surprise that investment banking executives are still bitching and moaning about a looming Federal Deposit Insurance Corp "clawback provision" that would give the government the right to take back up to two years of executives' pay if their banks fail and they ruin the global economy again. It's obviously The Poors' fault for being poor and and stupid and for losing their money, not the guys who are in charge of it.