Tonight on The Daily Show, Jon Stewart made fun of today's Goldman Sachs hearings on Capitol Hill by taking shots at both the senators who questioned the company's executives and the Goldman employees in the hot seat. Video inside.
Today was Goldman Sachs' big day in front of the Senate Subcommittee on Investigations—The C.S.I. of Senate subcommittees. From Goldman CEO Lloyd Blankfein, we've compiled an illustrated guide on how to comport yourself at your next Senate hearing.
Did you think the fact a Senate subcommittee pummeled Goldman Sachs executives on Capitol Hill all day would put off investors? Not so much. Goldman Sachs stock traded up today while the rest of the markets took a nosedive.
Goldman Sachs is spending today being harangued on Capital Hill. Senator Carl Levin read a Goldman email about the "shitty deal" it made, and felt compelled to repeat the phrase a dozen times. Watch in amazement! [Clip by Matt Toder!]
By now you've heard the news that investment bank Goldman Sachs is in some hot water with the government. Today, executives from the firm will testify on Capitol Hill. Will there be drama? Here is a quick guide.
Did you know that traders at the troubled investment bank are legendary health nuts? It's true! So could a fastfood eating contest between 10 mortgage traders at the firm have lead to the housing market collapse of 2007?
Here is a theory about the Goldman Sachs case which comes as much from our ignorance of all things financial as anywhere: Basically, we are pissed that Goldman Sachs made a lot of money while everyone else went broke.
Goldman Sachs has hired Barack Obama's old White House counsel, Gregory Craig. Politico hears that Craig wasn't hired "just because he's well-connected." He also has his own car which he can use to drive to himself to the courtroom. [Politico]
The Way We Live Now: Caught between a rock and a hard place. The "rock" is the "Wall" of "Wall Street," and the "hard place" is the other "Wall" of unemployed zipper sellers, ruthlessly pricking our gonfalon bubble.
Goldman Sachs is facing an SEC lawsuit that names a prominent London-based banker. The British Prime Minister said today he too wants to examine their "moral bankruptcy." They responded by giving their London staff bonuses equivalent to those of 2007.
First Goldman Sachs gets a lawsuit from the SEC, now prosecutors have indicted a former Blackwater president and four other former employees on weapons charges. Details are not yet clear. But who knows where this Federal justice train will stop.
Here's a graph showing the beating Goldman Sachs stock took when it emerged today that their (allegedly) shady practices merited an SEC lawsuit. It's a good weekend to go out in New York, unharried by bankers.
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]
CBS's Undercover Boss, in which a corporate CEO is beatified for doing normal jobs for a few days, is this season's hottest advertainment hit. Now, the show is reportedly coming to Wall Street. Glorious! We can already imagine it...
The investment bank's CEO Lloyd Blankfein said in an annual report that while Goldman "held various positions in residential mortgage-related products in 2007, our short positions were not a ‘bet against' our clients." They just bet against everyone else. [BusinessWeek]
The Apprentice is looking for horrible people to debase themselves and others on television, and judging by a recent New York City casting call, just the right candidates are showing interest: laid off bankers and Goldman Sachs staffers. [via NYM]
Thanks to you, the taxpayer—and following a bit of controversy—Goldman Sachs moved into its new "global world headquarters" in Battery Park City late last year. The best part about it? No rats! At least for the moment.
In the interest of balance, here's a quote from a New York Times article today that explains why the recession in New York will probably be a lot less severe than predicted, and the recovery quicker.